The Ultimate Negotiation Strategy©
How do you design a negotiation strategy for your entire customer or supplier base? Sometimes training isn’t enough. Our unique approach to strategy development teaches each attendee how to utilize our own consulting tools to develop a robust comprehensive multi-phase negotiation strategy. Half of the workshop is devoted to understanding the model, the other half is spent building an actual strategy for their deals.
Pressure diminishes the ability to think. People make simple calculation errors when pressure increases. You need to be able to manage pressure and minimize mistakes to maximize the result. Negotiation strategy is predicting the future. Preparation, preparation, preparation……
Nobody has time to plan. The Edge Negotiation Group provides the tools, the focus, and the time to create The Ultimate Negotiation Strategy©. Projects include:
- Cross cultural negotiations
- Acquisitions and divestures
- Price increases
- Payment terms
- Commercial terms discussions
- Multi-party negotiations
- Joint ventures
- Strategic alliances
- Large mission critical deals
Strategic planning is an exercise in critical thinking. The foundation is built on understanding the power, the people, and the process.
Our involvement doesn’t stop at the planning phase. We are there throughout all stages until the deal is final.
The strategic overview is the template used to summarize the entire strategy and highlight the phases involved. An example template is listed below:
GENERIC STRATEGY – INCREASING USE OF POWER
Detailed output includes:
Segmentation– When dealing with multiple parties it is necessary to group the parties according to specific criteria (i.e. growth, maintain, rationalize). A separate strategy is then developed for each segment.
Sequencing Communication– Negotiating power is like potential energy. When you exercise your power you lose that power. Learn to sequence your negotiations (especially across multiple parties) to conserve and grow your power base and maximize results.
Issue Identification – Ensure that all potential problems are identified before discussions commence. Develop preventive actions and contingency plans to minimize the impact of any serious issues whether circumstantial or personality generated.
Information Management – Dictate the flow of information between the parties. Assess the information already gathered. Identify any gaps in critical information. Finally, conceptualize the exchange of information by identifying which information to share now, to share later, or to conceal. Also identify the best method of exchange.
Questioning Strategy –Unlock crucial pieces of missing information and test assumptions. Create an agenda to prepare the other side and signal proper intent.
Identify Critical Triggers – During each phase of the strategy it is absolutely critical to identify the “triggers” that escalate your strategy into the next phase, triggering either an increase or a decrease in applied pressure.
Internal Alignment and Negotiation Roles – The primary objective of an effective strategy is to make sure that all relevant stakeholders on your side are aligned completely. The strategy documents will be used to present the strategy to all relevant internal parties. It is also essential to establish clear lines of decision making authority, as there is little tolerance for ambiguity around the decision process.
Tactical Plans for Each Stage – Each phase will have individual actions, meetings, proposals, and triggers, associated with the changing dynamics of the negotiation. All actions will need to be time bound and have assigned responsibility.
Identify Anticipated Reactions – A robust strategy plans for as many eventualities as possible. Predicting the reactions of the other party helps to identify gaps in the strategy and allows for robust contingency planning.
Download PDF brochure here –> The Ultimate Negotiation Strategy