Submitted by bebeo123 on 10/24/2010 08:04 AM Flag This Paper
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What ever you do, you'll do it better, faster and with more success if you are well prepared for it!
Preparation is, in negotiation, as well in most things in life, extremely important. Master negotiators spend huge amount of time gathering information and preparing for their negotiation. Many poor negotiators crash and burn due to lack of preparation. Go into a negotiation with an agenda which you have to prepare beforehand.
Negotiation Preparation = Negotiation Success
Mediocre sales people are notoriously bad planners. It can be said that they habitually “play†more than they “practiceâ€. Going into most sales interactions unprepared, thinking they can “wing it†and negotiating “off the cuffâ€. Top negotiators know differently. Top performers know that in order to successfully negotiate with clients they must plan carefully or risk being left vulnerable. Without proper strategy, your opponents will use your lack of preparedness to their advantage. In other words, you are likely to give up more than you intended because you didn’t have a plan.
Here are 9 areas of planning to consider before you start a negotiation with a client:
1) Determine your goals.
Negotiation is the art and science of reaching an agreement that meets your client’s goals. Your strategic goals create the measure you judge yourself by at the end of the processes and need to be set before the negotiation begins. Your goals also will act as your guide during the negotiation, supporting everything you say, every move you make and every agreement you reach. Carefully planning your strategy in advance will ensure you reach the goals that you and your company want to achieve. Remember that all goals should be set using the S.M.A.R.T. formula (Specific, Measurable, Attainable, Realistic and Time bound).
2) What’s your BATNA?
What will happen if you do not reach an agreement with your client? One of the biggest negotiating dangers is being too committed to...