PROFESSIONAL NEGOTIATION STRATEGIES

Tools & Tactics for Gaining the Edge in Any Situation

KEY TAKEAWAYS

ABOUT THE SEMINAR

George Lucas

About the Trainer – Dr. George Lucas For over 25 years Dr George Lucas has been a professional speaker, trainer, consultant, and field coach. His primary areas of expertise include negotiation skills, leadership, sales and business development. As a highly sought-after speaker and trainer, Dr Lucas has conducted programs for major organizations across North America, Asia, Europe, Latin America, Africa and Australia. He received his Bachelors degree, MBA and Ph.D. from the University of... Read More

Each of the negotiation strategies has a place. You have to understand the situation. You have to match the strategy to the situation, and then you have to have the skills to effectively deploy that strategy. So we’ll take a look at that. We’ll also take a look at a negotiation tactic that’s frequently confused with a strategy. Then we will take a look at and consider the issue of negotiation chips as well as how to use effective concession making, understanding those chips to reach an agreement.

Then finally, as we go toward conclusion we will take a look at that win/lose competitive negotiation strategy and some of the tactics that are very frequently used or can be used by you or other people out there in that process. We’ll take a look at both offensive tactics, things that you will do proactively, as well as defensive tactics. What do you do when somebody else tries that on you? So we have a lot of good skills to share with you, and the great thing is you’re going to start seeing the impact….

There is a huge difference between the strategy of accommodating with someone and the tactics of effectively making concessions to reach a favorable agreement. You see the difference up here. With accommodation one side gives. With accommodation it’s one issue—cut your price 10%, you can keep the business—and you’ve got to give it up.

Accommodations are reactive. They ask, and we agree. That’s what they’re looking for. It’s from weaker power, and as well as it’s a unilateral give. One side gets better. The other side gets worse. We’re more involved in an accommodation approach, and we talked about there are instances where we have to do it.

Concessions are very, very different, very, very different. Here both sides give something, and both sides get something in return. The great thing is if you’re a really good concession maker, you give up stuff that doesn’t matter that much to you and the other side really likes, and they give up stuff that doesn’t matter to them and that you really like. That’s effective concession making taking place.

Multiple issues involved. By the way, when they come back and say, I think we’ve got it all nailed down on everything except price, what do you have to say immediately? Just to be clear, until everything is decided, nothing is decided. Because if they’re trying to say the only thing left on the table is price, what are they trying to get you to do? Accommodate, drop your price to get the deal. So nothing is decided until everything is decided.

Concessions are done proactively as you put them on the table. Let’s get creative here. What if we do this; can you do this to bridge the gap? They’re done from strength and their bilateral “chip” are issue maneuvers, and we’re going to talk a good bit about chips over the next few minutes. Chips are issues in a negotiation process….

Investment in time is an easy one. If I can catch them looking at their watch, what do I know? They’re running out of patience here, and I love somebody on the other side of the table that’s running out of patience, and here’s the play. I don’t know if you noticed this or not, but when you’re out to dinner, maybe it’s a business dinner, after the time the first person looks, and you can’t look at your watch without the other people noticing; you look at your watch, and in a matter of five minutes the bill’s going to be paid and everybody’s going to be gone.

It’s the same thing in negotiation. If I catch you taking a glance—oh, I’m married; I didn’t know that, oh wow. If I catch you taking that glance at your watch, here’s what I’m going to say. You know, it’s been a tough process. This is a very complex deal. It’s not an easy negotiation, but it’s been a good faith negotiation, and I appreciate the way we’ve worked together here. We’ve got a very fair proposal on the table. You know you need to get this implemented. Let’s wrap this thing up and get started because we’re in the point of diminishing marginal returns. More time on this negotiation really isn’t going to be doing anybody any good.