Neg.2

Question 1

9 steps for the negotiation preparation success

Answer 1

1. Know your strategy
2. Choose the negotiation style
3. Identify goals
4. Prepare SWOT
5. List Pre-Meeting questions
6. Compile options/deal designs
7. Form a trading plan
8. Set the agenda
9. Build a team

Question 2

Strategies and tactics

Answer 2

1. Be ready to make mistakes
2. Embrace the discomfort
3. Take a proactive approach
4. Think twice
5. Participate in negotiation case study exercise
6. Consciously practice
7. Identify a negotiation coach

Question 3

6 skill communication skills for negotiation

Answer 3

1. Know your purpose for the conversation
2. Focus on how you deliver the messages
3. Mirror your audience’s speed of speech and tone
4. Listen to their really emotions: really happy, really excited…
5. Practice saying your content out loud before the meeting
6. Create suspense in relaying the details and why they are important

Question 4

Categories of business personality

Answer 4

1. Driver types
   Focused and straight to the point.
2. Amiable types
   Strongly care about relationships, they go into business with people they like.
3. Analytic types
   They need a spreadsheet. They like to see the numbers.
   More reserved, and do not like to have a large amount of conversation.
4. Expressive types
   Similar to drivers, but have a stronger focus on relationships. They will make the best decision for the company in a timely manner, but want to get to know you too.

Question 5

5 concessions patterns

Answer 5

1. Sucker: Im over-eager; take it or leave it.
2. Wrecking ball: im inflexible, im not willing to negotiate
3. Avalanche: If you hang in there, you can get it free
4. Ice cream cone: I am willing to negotiate and concede some, but have a bottom line
5. Martini: I am serious about my proposal, yet willing to concede some, however, I have a bottom line

Question 6

7 tips for closing the deal in negotiations

Answer 6

1. Negotiate the process
2. Set benchmarks and deadlines
3. Try a shut-down move
4. Take a break
5. Bring in a trusted third party
6. Change the line-up
7. Set up a contingent contract

Question 7

Characteristics of commitments, how they should be:

Answer 7

• Practical
• Durable
• Understood by all
• Verifiable

Question 8

6 Tips when presenting a proposal

Answer 8

1. Explain the benefits
2. Be confident by knowing your value
3. Do not be afraid to ask for what you want
4. Tell the why of your brand
5. Know your BATNA
6. Leave your ego and emotion at home

Question 9

Phases of proposals (3):

Answer 9

1. In review: proposal is under negotiation, changes are still being made, details are not fully agreed yet.
2. Buyer acceptance: agreement reached.
3. Finalised: buyer has accepted your formal offer and the proposal is considered sold.

Question 10

Preparation for the negotiation:

Answer 10

1. Do some background research.
2. Check with past negotiations.
3. Search on the internet.
4. Explore the work environment.
5. Make a note – during the negotiation, it is also a good time to get information
6. Gather information

Question 11

Important information to gather pre negotiations:

Answer 11

• The goals the other party has set.
• Information about their company and its current situation.
• Interests and motivations of the people you are to negotiate with.
• Strengths and weaknesses of the negotiators.
• What they achieved in previous negotiations.
• How they have negotiated in the past (cooperating or competing).
• Who makes the decisions.

Question 12

How to manage your negotiating TEAM

Answer 12

1. Align your own team’s interests
2. Plot out the conflicts
3. Work with constituents