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Making concessions to close the deal, fast.

Skilled negotiators prefer to trade rather than concede. But when you are under time constraints, what can you do to close the deal? A common rule in negotiating is that 80 per cent of the concessions occur in the last 20 per cent of the time remaining to negotiate. If demands are presented early in a negotiation, neither side may be willing to make concessions, and the entire deal might collapse. Conversely, supplementary demands arise in the last 20 per cent of the time, both sides are more willing to make concessions. More often than not, you may encounter people who use this against you. They

2021-02-04T14:37:59+00:00

Ensuring the satisfaction of the other party

Keeping both parties satisfied when negotiatingIt easy to get caught up about the performance of your team in a negotiation. If you are one of the few that conduct post negotiation assessments, you will reflect on the wins and losses of the negotiation. Most likely you will focus on your performance and understanding how the other party feels or if they are satisfied with how the discussion went will slide under the carpet. This can turn out to be harmful in the short and long term.Let’s take a step back and think about the outcome of the negotiation with a net positive result in mind. How

2021-02-04T14:47:45+00:00

Virtual Negotiations Challenges

Virtual negotiation comes with its limitations that may be unwelcome to the growth of your business if not well managed. These limitations are common, however, they are also very easily overlooked and not addressed with high urgency. Virtual negotiation challenges Limitations with seeing a negotiator’s emotions: the major setback facing many businesses using virtual negotiation in this generation is the limitation to read client’s or other member’s emotions. There are non-verbal clues that come along with the physical mode of negotiation, such as facial gestures, hand movement, sitting positions, among many others. Virtual communication hardly gives access to all those features. Technical challenges: there could still

2021-02-04T14:53:18+00:00

4 Quick Tips When Negotiating via Email

Negotiating over email is no easy task. You end up spending more time on drafting a response that in person and without any assurance that the other party is completely engaged and encouraged about the negotiation itself. There are a number of tactics you can use to solicit more effective responses from your counterpart. Are you aware of all of these tricks to email negotiations? Less is more. Make 1 point per email. It can be counter-productive to make multiple requests or introduce new topics to an already loaded email, especially if you are aiming to get a clear and succinct response from the other party.

2021-02-04T13:30:04+00:00

When money isn’t everything, how to challenge a price hungry supplier

Price wars are not fun. They are not built for the long term nor do they allow for win-win outcome. They most often occur when we are faced with internal and/or external pressure that are out of our control. Perhaps, there was a sharp change in the supply/demand balance, or maybe an upstream supplier has been hit with a tariff for exporting materials across borders. For your sure, we can expect that primary focus shifts to a battle on price. What can you do to safeguard yourself from drastic price changes? Start with No Do not be afraid to start with a negative reply to any

2021-02-04T13:30:18+00:00

Negotiating with your employer during times of uncertainty

These are turbulent times. The career goals we defined for ourselves last year or at the beginning of the calendar year are now in the rear-view mirror. Your hopes for a raise, a promotion, more flexible office hours, buying in company shares, better overtime conditions now seem like an insensitive request to talk about when there is so much global uncertainty. You may have already heard friends or colleagues been asked to use their holiday entitlements to minimize costs for the company, many have been made redundant, others have been forced into retirement. While these cases tend to push our psyche to ask for less, in

2021-02-04T14:56:23+00:00

Negotiating with Family and Friends in a Lockdown

Lockdowns across Europe and the world, we never thought of being in such a position. thus far, you may have never had to do business with friends or family, but chances are you will have to negotiate, now more than ever. It might be over screen time, or more significant financial, social, business, or investment decisions. These situations present a different set of challenges than standard negotiations.   Preserve the relationship Primarily, you want to preserve your relationship throughout and after negotiating, so the same rules apply that you might use with a long-term business contact. With friends or family, you may be even more committed

2021-02-04T15:02:02+00:00

3 Social Pressures That Shape Our Decision Making

We're in the midst of a global epidemic. COVID19 is directly affecting millions of people, the markets are making immense turns and shifts to combat the impact the disease can make on our health and economy worldwide. We are seeing increased cases of panic buying in Australia and mass-movement of people leaving Milan following the extension of the quarantine zones in Italy over the weekend. This isn't a cultural or nation-specific 'phenomenon'. It's happening in Singapore, USA, Germany, Hong Kong, Latin America.   If we would take Hofstede's cultural dimensions and compare Australia and Italy, we find a number of pillars to have alternative priorities. For as a third comparison, I have put China

2021-02-04T14:59:06+00:00

Applying the Priming Effect to Negotiation

  Priming works by using associations made in our subconscious, they are almost always unnoticeable to the subject. Priming in negotiation and influencing can come in many shapes and forms. In this 3 minute video, I present two studies on the priming effect as well as the implications it has in negotiation.     The main learning of the research about priming is that our thoughts and our behaviour are influenced, much more than we know or want, by the environment of the moment and by stimuli to which we pay no attention at all. Giuseppe Conti

2020-12-15T11:47:51+00:00

9 Ways to Avoid a Negotiation Stalemate

Having navigated through countless negotiations in my professional career in Procurement, there are a number of go-to moves that I have picked up to catalyse the different stages of the deal I was working on. These tips work great in both single party negotiations or multiparty negotiations as some are used to ease tension, encourage information sharing, develop rapport or simply to give a little push to get things moving. They are a little insight into what I teach in my workshops with Conti Advanced Business Learning. 1. Take a BreakTaking a break can give both parties the chance to deal with the emotional burdens of the discussion. It’s a

2021-02-04T15:07:11+00:00
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