Negotiation Flashcards
To bargain
To try to change a person’s mind by using various tactics
Bottom-line
The lowest one is willing to go
Expanding the pie
To create value by thinking of all the other possible elements that could enrich the final deal, next to the main variable
Cookies
Paramètre supplémentaire
Negotiation elements beside the main variable, that can be exchanged, and that increase the value of the final negotiation outcome.
Aspiration point
Your High Hypothesis
Reservation point
Your Low Hypothesis
ZOPA
Zone Of Possible Agreement
BATNA
Best Alternative To a Negotiated Agreement
Negative BATNA
Leaves no real choice to the other party. It’s a ‘take it or leave it’ last offer. It’s pretty close to blackmail in fact, as not
taking your BATNA means that the negotiation is over.
Positive BATNA
Allows you to throw a last compensation on the negotiation table, that could save the negotiation. One last cookie for the other party, that you normally wouldn’t give away. In last resort
Discovery strategy
Two soft skills:
- interview skills
- active listening
Actual strategy
Hard skills and soft skills :
like active listening, creativity, resistance to stress, communication skills, etc
Interview skills Summary
- Rank all questions in categories
- Within each category, start with the most generic questions to proceed to the most specific ones = the funnel technique.
- Use active listening, and take notes
Active listening summary
- Ask open questions as often as possible
- Reformulate, and then leave a blank. Silence is a powerful weapon…
- Summarize every now and then, and especially at the end of the discovery phase.
Advantages of reformulation
a. Checking you have understood correctly;
b. Showing interest
c. Relaunching the conversation – and possibly learning more.