Archive for: May, 2023

Presentation Skills: Further Tips For Overcoming A Fear Of Public Speaking

May 30 2023 Published by admin under Uncategorized

If you feel genuine terror when you are asked to speak in public, you are not alone. Fortunately there are some very simple things you can do to help you overcome this fear. This article look sat visualizing your performance, setting your intention and having contingency plans for things going wrong.

Tip 1: Visualize Your Performance

Your brain cannot tell the difference between reality and something that is vividly imagined. Therefore if you vividly imagine successfully giving your presentation, you will increase your internal confidence as your brain believes that you have already done it successfully. This will help you to make a more confident presentation.

This is as simple as sitting down, closing your eyes and imagining yourself giving a great presentation. Another way you can use visualisation is after the presentation; but this time imagine how you would like it to have gone, so that you have the perfect experience as a base line for your next presentation.

Tip 2: Ask For Help Or Set Your Intention

This is the magic little extra that works for me. You might need to change what I do to fit in with your belief system. Before every presentation I say:

In this presentation I am about to give, help me to say the things that will make the biggest positive difference to every person in the room. I ask for your guidance to say the things it is highest wisdom for me to say. I offer you my voice box to share wisdom that would be relevant for the people in the room.

Since doing this, I have found that my presentations generate a much bigger ‘buzz’ and more people come up to me afterwards and tell me what a huge impact the presentation has had upon them.

What I say may not be appropriate for you, but there will be a way you can modify what you say to yourself so that you are achieving a similar result. It is really just setting your intention for the outcome you want from the presentation before you start.

Tip 3: What Is The Worst That Could Go Wrong And What Would You Do If It Did?

Fear of public speaking can be overcome in the same way you have overcome any other fear you have had in your life. Your fear is really is you imagining the worst possible outcome. The reality is that this worst possible outcome rarely happens and you have wasted a lot of time and energy thinking about it. Here are some things you can do to help you move through this fear:

  • Work out what could go wrong and what you would do if it did.
  • Ask yourself what is the worst thing that could happen and then check whether that is really as bad as you have imagined.
  • Remind yourself of how many times in the past the worst possible scenario has actually happened – not often.
  • Understand that by staying stuck in your fear, you are guaranteeing a less positive outcome than could otherwise be the case.
  • Know that every time you move through fear, the size of your confidence sphere expands. The only way to get it to expand is to move through fear.
  • Look at the benefits you could obtain from doing the presentation and compare them with the cost of the fear.
  • Take backup copies of everything with you. If something goes wrong, you will have it with you. From past painful experience… if you are travelling, these copies need to be in your carry on luggage rather than you checked in luggage… just in case the checked in luggage goes to another city.

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After Your Presentation — You Are Still in the Spotlight

May 29 2023 Published by admin under Uncategorized

You just finished your presentation. The audience is applauding with gusto. You feel relieved and accomplished. You can’t wait to get back to your seat or out of the room. You rush off the stage or platform. But should you? In this article, I address the importance of what happens once you have ended your presentation.

Give the audience time to show their appreciation. I had opened the day with my “Signature Story.” A wise, fellow speaker pulled me aside later and admonished me for not giving the audience enough time to tell me how much they had enjoyed my story with their applause. Since that day, I have always allowed enough time to stay up front until the clapping starts to die down. And I have noticed how many speakers and storytellers hurry away. As your audience applauds, don’t feel or look uncomfortable. You deserve to enjoy this moment of glory. Smile, nod and silently say, “Thank you.” This is your curtain call!

Be willing to stay around after a presentation, whether it is a workshop, a keynote or a meeting. I have found in my years of presenting, there are several people in the audience who want to speak to me after a presentation. They may want to share a positive comment, tell a story of their own, ask a question or even disagree with something I have said. Personally, I feel that a presenter who leaves immediately gives the impression of not caring enough. Usually, I have found that when I linger, I learn a huge amount about how my presentation was good, but also could be better. From the questions asked, I discover points that I should cover in the future and some areas that I could skip.

Make sure that when you are “off stage” and no longer in the “spotlight” that you still “walk your talk.” Often when we present, our presentation will be followed by other events and sessions that involve us. For example, if you are giving a workshop at a conference, there is a good chance that you will stay for more of the conference, the meals and other workshops. I have been turned off by speakers who seem to be warm and wonderful while presenting and then are unfriendly when you see them later. It makes one feel that this presenter is far from sincere. Once we have presented to a group, the people in that group feel they know us and we are still “on stage,” even if not literally. The speakers who are genuine and always warm and gracious are forever loved and remembered – and asked back!

As a presenter, remember to keep that professional edge at all times. Once you have given a presentation, and especially if it was a well-received presentation, you will be revered as someone special. As that revered person, however, it is important to consider how you dress, act and handle your affairs when meeting the public. It is OK to be casual, but not sloppy. It is OK to have a raucous time, but not be impolite or rude while enjoying it. It is OK to have opinions, but never to be unkind.

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Business Presentation Tips to Improve Your Business Skills

May 28 2023 Published by admin under Uncategorized

To create a niche for yourself in your profession, you have to learn how to be understood. When you understand how to communicate concisely, you’re halfway on your path to success. As a professional, your communication skills are put to test every time you are required to give a business presentation. Read on to find out how you can master the art of presentation.

The first step is to create your business presentation which can be understood by your audience:

  • Content – Research the topic of your presentation thoroughly. It will help you in creating a well-structured presentation, as well as keep you informed to answer any questions your audience might ask. It is a good business practice to plan a few minutes extra to take questions from your audience.
  • Expression – Stick to one topic per presentation. Don’t add any extra detail to it. You will waste time, and end up confusing your audience.

Start practicing when you have your first draft. Ask for feedback from your friends or colleagues, and make changes accordingly.

On the D-Day, keep the following presentation tips in mind while giving the presentation:

  • Your position – Start your presentation after taking the position (sitting or standing) facing the audience. Don’t start before or while you take position.
  • Your body language – Your facial expression should be pleasant and smiling. Make eye contact with everyone during the presentation. Use your hands to explain, or keep them hanging on the side. Avoid shuffling from one foot to another. Stand comfortably with body weight equally on both feet.
  • Your mannerism – Be confident while delivering your presentation, even if you are not actually feeling it. Practicing before the D-Day helps in feeling more confident. Avoid clearing your throat, smacking of lips, frequent use of words/lines “you see”, “I mean”, “OK”, breaks such as “Ah” and “unh”, etc.
  • Medium of communication – Stick to one language, preferably English, during the presentation. It is a good business practice to avoid the use of slang, or regional dialects.
  • Command over language and delivery – You should speak clearly, slowly and fluently to avoid any confusion in your audience. This helps to improve communication between you and your audience.

These are some good business practices to improve your presentation skills. Practicing these presentation tips will improve your presentation skills, and help you communicate more effectively.

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Best 9 Practices to Include Quotes in Presentation

May 27 2023 Published by admin under Uncategorized

Many presenters opt to include the quotations in view of the excellent benefits of using them in presentation. Here are a few practices which could be adopted to incorporate Quotations and integrate vital points in the presentations.

1. Always prefer to use a quotation relevant to your subject from a well-known person or author known to the audience, with whom your audience can relate to.

2. Direct quotations are another person’s exact words–either spoken or in print–incorporated into your own presentation. Indirect quotations are not exact words but rather rephrasing or summaries of another person’s words. If you are not sure to whom the quotation belongs, you can say ” I understand, it was ____________ who said this.”

3. Stretching them to make it fit to your point shall be avoided. It should be creative, concise, relevant and timely to your presentation.

4. Never try to use quotations which became stale by overuse as they would only appear amateurish to your audience.

5. In order to accept your ideas in your presentation, quotations need to be explained with some facts and figures.

6. It is better to use the Quotes that are informative and surprising. For example an important or latest information related to the topic of your presentation can get you immediate attention and establish a connection between you and your listeners.

7. Pick a quotation you admire most and try to use it frequently. This helps you to registered in your memory and such quotes become handy, whenever you want to include in your presentations.

8. They work best when the original words are accurately reproduced. An appropriate punctuation with better pronunciation is necessary.

9. Explore whether you have any quotes from:

- Your father or mother or grandmother or grand father

- Your Teacher or mentor

- Your Boss or Managers of your organization

- Your Clients

- Your wife or Yourself

Avoid excessive use of quotations as it may suggest that original ideas on the subject are lacking. Always remember:

# Quotations can be used to get audience attention almost immediately

# Quotation should be from a well-known person or author known to the audience

# Quotations must be strictly relevant to your presentation subject

# Quotations can be used to bring together or sum up the points in a presentation.

# Quotations can be used to add cheerfulness to any occasion.

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3 Tips for Giving an Excellent Presentation

May 27 2023 Published by admin under Uncategorized

Presentation is something that probably all of us are quite familiar with. Unfortunately not many of us really know how to deliver a killer presentation. Giving an excellent presentation should be much easier than you think if you know the tricks.

First of all, you should understand that generally the aim of a presentation is to give information. Thus, it is not wise to overwhelm your audience with a demonstration of all the technology whistles and bells. You should avoid the typical pitfalls of presentation by sticking to goal, simplicity, and consistence. Here are the 3 rocking tips on giving an excellent presentation.

1. Well prepare your presentation with knowledge and pay attention to little details.
An essential part of the preparation is to research well the topic that you are going to present. It is also vital to specify if your presentation is intended to persuade, inform, entertain, or sell. This will determine appropriate templates, color scheme, font types, and graphic images that you should choose in order achieve your main objective.

Remember that consistency and simplicity is essential in designing a presentation. Thus, it is important to pay attention to little details such as accuracy of your information, grammar and spelling, and number of bullets to ensure readability and appropriateness of your presentation.

2. Structure your presentation well: Core concept and overview are to begin with.
Well-structured presentation helps you a lot in delivering key information to your audience. It is always best to give an overview in the beginning of your show where you can give simple core concept to your audience. There is evidence that giving general concept in the beginning of your presentation can increase understanding of your audience by 40%.

Clear transition and liberal repetition emphasizing linkage in between one slide to another is also essential to keep you audience enthusiastic and focused.

3. Anticipate communication problems: You are nervous while your audience pays half attention.

Remember that in every presentation nervousness should be your friend. Even the best speakers admit such nervousness in their every new presentation regardless hundreds of presentations have given before. Realizing will help you with the mental side of presenting. You should focus more on the positive result of your presentation rather than think too much about your nervousness.

When your audiences who are supposed to be listening to you but they are doing something else, you should not be irritated. Try to see the positive that it is just a common phenomenon. Besides, multitasking audiences will give you less pressure by scrutinizing you less. However, to build connection with your audiences and ensure they pay full attention it is important to maintain eye contact with them and keep your presentation fun.

In short, giving an excellent presentation is all about three simple things – preparation, structure, and communication. If you can get the hang of these three points, then you will win every single presentation that you deliver.

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Big Mouth Negotiations – Howard Stern Vs Sirius Radio

May 23 2023 Published by admin under Uncategorized

The Background
That Howard Stern is famous, nobody can deny. That he is paid a lot of money is another indisputable fact. Where things get interesting (from a negotiating point of view) is what happens when his current contract runs out…

If you’ve ever listened to Howard for any length of time, he’s always talking about his relationship with the Sirius satellite radio network. He’s very grateful for everything that they’ve done for him and his team; however, he’s recently been saying on the air: “I don’t think that I’m going to be re-signing.” Clearly pre-negotiating posturing is already well underway. Howard is no dummy and he’s got a great way to communicate his negotiating position to the other side of the table via his daily radio show.

Back when Sirius hired Howard away from traditional radio, satellite radio was a new kid on the block and more of a curiosity than a viable radio network However, by hiring Howard, Sirius was able to put themselves instantly into the press and brought themselves to the attention of both new subscribers as well as investors. Since he’s been on board, Sirius has been able to add millions of new subscribers. Howard was richly rewarded for making the jump to satellite radio – the contract that he got gave him $500M in cash and stock over five years.

The Posturing
The CEO of Sirius radio, Mel Karmazin, has been quoted as saying “It is my strong desire that we keep Howard in satellite radio on terms that are in the best interest of our shareholders.” Clearly Mel is also skilled at the pre-negotiating posturing game also.

The world has changed since Sirius hired Howard five years ago – they don’t need Howard as much today as they did back then. Sirius has been able to add other well-known talent to their lineup included most recently Rosie O’Donnell. Now that’s all good and well, but having Howard on board is a big plus for Sirius. If he were to leave, then Sirius would probably lose subscribers. What’s interesting is that the company has changed its focus from only growth to now being more focused on profitability.

The reason that anyone can even start to talk about Howard leaving is because it’s a real possibility. The cause is pretty simple – Howard’s paycheck represents a very large expense for the company.

The Possible Outcomes
So as students of sales negotiating, what does all of this show us? Well, we’ve got two parties doing their best to clearly communicate their starting positions to the other side of the table before negotiations even begin. There are a number of different ways that this could all end up.

Although unlikely, it is possible that Howard could once again land a job on traditional airwaves. He had originally left because of the public outrage over the content of his show; however, times have changed and this might not be such a big deal any more. The challenge of “saving” traditional radio might be more than Howard can resist.

What All Of This Means For You
There is much for us to watch and learn from here: Howard wants to work less and make more money, Sirius wants him to work more for less money. When negotiating starts, it’s almost certain that we’ll see some very interesting posturing occurring by both sides. Due to the public nature of Howard’s job, we’ll be provided with a window into the negotiations and a running commentary on how he wants us to think that he feels about the process.

Turn your Sirius radios on and get ready for some lessons in high-stakes negotiations!

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A Negotiator Needs Good People Skills

May 22 2023 Published by admin under Uncategorized

Negotiations and the people involved in them are going to be managed by someone. Managing a negotiation, all of the parties at the table, requires exceptional people skills to influence and motivate others. Honing these people skills is a sure way to improve your ability to negotiate successfully.

The parties to a negotiation are people. People are unique individuals. To reach them through a debate of the issues requires that you present your case in terms they can readily understand. To effectively communicate with the other person you must understand the person. Not his or her argument but the “person”. Researching the other party before the settlement conference can provide valuable details about their background, professional, personal and scholastic. Another way to learn about your adversary is to ask associates or common acquaintances about the person with whom you are about to meet. Finally, the time spent informally talking with the person before a negotiating session serves the purpose of providing insights into how you might phrase your arguments.

An assertive management style can be counter-productive unless it is mitigated by the proper mode of delivery. To lead an informal group you must adopt a subtle manner rather than boldly taking command. You want a management style that enables you to gain control the actions of the group with out confronting the other person and backing him or her into a corner. Rather than commanding try leading the others by informing, educating and convincing them that there are viable options in addition to what they came expecting to achieve.

To influence how others will act or respond requires intervention or management on your part . As they don’t work for you and assuming you don’t have absolute power in the negotiation, this means you have to make them want to do what you need to have done. This requires leadership. Leadership requires that you win their minds and convince them that doing what you want is in their best interest. Typically settlements arise when the parties become convinced that modest compromise on their part is worth gaining concessions from the other person. A small negotiation manager will seek to define and sell strategic compromises that achieve the needs of the parties. Mediators are adept at this small group management technique and negotiators benefit by applying the mediation techniques of leadership and management in their negotiations.

Managing another person or a small group requires good people skills. Those not within your control must want to listen to you and go along with your suggestions. The personal traits most likely to win favor with an adversary are not those of an adamant, arrogant, ruthless despot. They are more likely to warm to the approaches of a benevolent, sharing, nurturing benefactor. Teaching, coaching and informing are viable tactics to garner the support or at least attention of the other person. by attacking their message or facts you are not attacking them. By adding information to the equation you can inject doubt into their position. By demonstrating how things might work out for them, you offer options to be considered. All of these actions serve to establish your subliminal leadership role.

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Negotiation – Understanding Movement, Concessions And Bargaining

May 21 2023 Published by admin under Uncategorized

Asking questions and listening effectively are important skills both in selling and
negotiating. The first phase of negotiation involves both parties agreeing the
background to the negotiation and fishing for the opening demand or offer.

It is often better to present the opening demand or offer in terms of a hypothetical
question, as this allows the negotiator to retreat to his initial position if necessary.

The opening offer will probably be at or just about the level of the negotiator’s
maximum expectation, giving him room to manoeuvre, but not so high that the offer
lacks credibility. Do not attempt to win. at this stage, but hold sufficient back so that
you are able to move, if necessary, at a later stage.

This is a difficult period in the negotiation process and a professional negotiator will
often use silence or other pressure techniques to solicit information from the other
party.

Further Movement and Concessions:

During negotiations, it can be in the interest of each side to keep asking questions
and raising objections. Many excellent negotiators are low reactors who will proceed
very slowly. However, given that the opening position of each party differs, then there has to be movement and concessions if a deal is to be struck.

Negotiators will tend, at first, to discuss extra demands, trying to get the other side
to agree to these without offering anything in return. They will be reluctant to give
information or will defer decisions in order to increase the pressure on the other
person.

When an offer does come, it will often be on the basis of a quotation based on the
minimum quantity at the lowest possible price. In all this, the negotiator is
attempting to dominate the interview, pressing for maximum advantage, and trying
to force the other person to concede on a major issue.

The skilled negotiator will ask the other side for a complete list of all his, or her
requirements, and will not concede on a single issue until he knows the nature of
the whole package. He will then begin to trade concessions, starting with the
smaller, less important aspects of the package.

Negotiators should avoid making one-sided concessions which will severely weaken
their final position and could affect the overall profitability of the deal.

When movement comes, it begins slowly, and then can be very rapid as both parties
sense a deal is on the cards. Movement does tend to be discontinuous with
either party moving and the other holding up the agreement at any one time. This
leads to short periods of deadlock, which can be brought to an end in different
ways.

Some of these are:

o Period of silence. Wait for the other party to speak.

o Agree to a concession. Always trade concessions by saying“If I do this, will you do that”?

o Adjournment to review positions.

o Agree to leave certain issues to one side for later and concentrate on the rest.

Identify areas of common agreement.

o The use of the relationship with the other side to break the deadlock.

Signals to be aware of that could mean the other side wishes movement to take
place could include:

o Trial movement. One side uses words like “What would you say if …?”
or uses hypothetical examples.

o Summarises the position to date and asks “Where do we go from here?”

o One side calls for adjournment.

o Appeals to the other side’s better nature.

o Asks for more information.

o Uses “crowding” techniques to force movement, e.g. aggressive behaviour, sets
deadlines and time limits, threatens use of the competition.

The use of concessions is a vital part of building a profitable relationship for both
parties in the negotiation. Earlier, we discussed the different elements that could
constitute the final deal. The use of concessions enables negotiators to build a
mutually profitable deal that is not one-sided in the other side’s favour i.e. It results in a “win-win” outcome.

And Finally – Bargaining:

When it comes to bargaining try to get the other side to commit themselves first. For
example:

Scenario 1.

Buyer: “I’m willing to reach some sort of deal, but I want a 10% discount”.

Salesperson: “Okay, I’ll agree a 10% discount, but we’ll have to look at a
longer-term agreement”
.

Buyer: “Well, thanks for the 10% but the 1 year contract we have already
agreed will have to stand”
.

Scenario 2.

Buyer: “I’m willing to reach some sort of deal, but I want a 10% discount”.

Salesperson: “Okay, we may be able to look at our discount structure, but to
do that we’ll need to agree a 2 year contract”
.

Buyer: “Okay, well 2 years may be possible, but can we go to the full 10%?”

In the first scenario an offer of 10% was made, but what was asked for was vague.
Responding to a specific demand like this we need to be vague, but positive: “Okay, we may be able to look at our discount structure”. and our counter demand needs to be specific: “But to do that we’ll need to agree a 2 year contract”

Remember, when you bargain, offer vague, ask specific.

Copyright © 2007 Jonathan Farrington. All rights reserved

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How to Negotiate Used Cars Price With Any Seller?

May 20 2023 Published by admin under Uncategorized

We all know that the seller starts off with a higher than expected asking price, with the predetermined concept that any buyer will try to lower the price through a process of negotiation. Negotiating is easier said than done and the last thing one wants is to be taken for a sucker when it comes to buying your next used car.

Here are a few very simple and straightforward tips that will help you have the confidence to know how to negotiate with the seller on the price of a used car:

1) Be Persistent: One of the key underlining skills to the art of negotiation is persistence. Be persistent as you the buyer negotiate between the seller’s asking price and your all time high. This also means, of course, that you should have a high or maximum amount that you are willing to spend so as not to go above that determined figure and to also have a solid ground for negotiating.

2) Know Car’s Personal Value: What we mean by know the car’s personal value is to determine, prior to negotiating with the seller, what the car is worth to you. That way you have a solid argument for the price you believe you should pay for the car. Check KBB to find the current value for a car. A car’s worth is different from its value, which changes with each buyer in other words know its value to you, the person in the market for a used car. A buyer must ask him or herself exactly how much the car means to them and what they are willing to pay for a particular car based on its age, make, model and condition.

3) Know Car’s Actual Value: To me negotiating is a form of an argument, where you the buyer are arguing your reason for paying the price with the seller’s reason for asking the price. It stands to reason therefore, the more facts you know about your argument the better your strategy will be and the more leverage you will have upon negotiations. To find the actual value of a car, research what the Kelley blue book value is for the car at which you are looking, and then compare it with four to five other similar cars that are selling in the same area. If you learn that there are less expensive cars with comparable mileage and other specifics, then you have negotiating power to lower the price by considering your option to purchase another car from a competitor seller. Let the seller know that you are aware they are not the only one with a desirable vehicle for sale.

4) Be Aware of Defects: When I say defects I am referring to the quality of the used cars as it is now in comparison to how it was when it was brand new. Carefully examine the shape and condition of the used cars and be sure to use any “defect” you find in the car, such as dings, scratches, and previous accidents the car may have been involved. Additionally, consider the condition of the tires and whether or not they need to be replaced soon, along with rust anywhere in or around the car, etc. as a valid means to negotiate a lower price with the seller.

5) Upgrades are Valuable: Negotiate or rather politely argue that the “necessary” upgrades are missing. We all have an idea of what a car “needs” even if those needs are not critical in helping a car run, but do add to a buyer’s level of desire to drive it. Essentially what I am saying, is that with a used car you have the ability or at least the opportunity to negotiate the price simple because the car “should” come equipped with certain features that you may find as important and possibly a deal breaker when buying a car. Necessary upgrades may vary slightly by person, but keep in mind the following expected extras, such as CD player or iPod connector as examples to lower the price if the vehicle doesn’t have the basics that any car its same year would or should have.

6) Be Firm but Reasonable: I feel the need to remind potential buyers that when negotiating on anything the seller has every right to ask as much or as little as they wish. It is because of the seller’s prerogative on the price that it helps if the buyer is reasonable with his or her negotiation, and realizes that the seller too has to make money on the sale. Generally speaking, a seller wants to make a sale. The asking price is therefore different than the sale price, which may be an undetermined cost and may be discussed during negotiations. This is true unless they are not selling the used cars for quick cash, but rather to make an actual profit, then the seller is more likely to be strict in their sale and have a set asking price that they will not budge. However, in most cases, if the seller knows they can make a sale by lowering their asking price, then they will be more likely to come down and meet you somewhere in the middle between your ultimate high and their absolute low to avoid risk losing the buyer all together.

7) Online Negotiations: The best place to start your negotiations is online from home or office. It offers you the privacy and no worries about face to face negotiations. UsedCarsGroup.com offers easy to use online used cars price negotiation tool to used cars shoppers. Start your used cars price negotiation online the smart way.

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Preparing for Negotiation

May 20 2023 Published by admin under Uncategorized

In the words of Chester L. Karrass, ‘In business, you don’t get what you deserve, you get what you negotiate.’ Negotiation is something that no individual can avoid. It even takes a very vital position when it comes to business. Your ability to properly negotiate business deals can literally translate into cost savings and profits worth tens of millions of dollars, significant leaps in earnings, remarkable rise in shareholder value, higher stock prices etc. Indeed you get what you negotiate. But are you negotiating right? What are the considerations that can improve your negotiation?

Of course several ideas help improve your business negotiation. In this article we are focusing on preparing for negotiation. Assume that you are getting yourself and your team ready to negotiate a very important deal that could change the future of your enterprise. This could be with your banker, major supplier, key investor etc. You must get this deal right. It’s not just any usual deal. You are thinking about the negotiation and how prepared you are. You begin jotting down salient issues. In your opinion, what aspects would you note down? I guess you would not fail to consider the following.

  • Your negotiation strategy and tactics are vital. What are your negotiation approaches and plans? Are you going to play it hard or soft? Could use of threats and hard talk help? Alternatively, are you playing the gentleman strategy?
  • Negotiation goals and objectives will certainly be on the table. These are based on what you are negotiating for. You need to consider whether the negotiation is focused on short-term or long-term goals. If it’s not a one-off negotiation, you have to think of the impact of this particular one on future negotiations. Consider some options you can table and also your bottom line. Do you have your optimal or ideal target?
  • The negotiating teams also come into focus. On your side, consider the buildup of your team including the team leader and other required technical experts. Does your team have adequate and appropriate negotiating skills, power etc? Regarding the other team, consider its composition, negotiating power, strengths and weaknesses, negotiating fundamentals, negotiating styles, goals and objectives, mediators etc. You should put yourself in their shoes to get their negotiating perspective properly.
  • Take care of requisite facts and statistics including assumptions in your preparations. Avoid being caught off-guard simply because you lack basic information. Knowledge provides for you an advantage and leverage. Don’t forget any previous negotiation information if applicable, and also decide on what facts you will share and what you won’t share. Won’t you appear powerful and smart when you have all the required facts at your fingertips?
  • Don’t forget to jot down your vital tradeoffs and negotiation limits. What are your vital variables and what can you concede? How about your second and third options or alternatives? What possible responses and reactions exist? Are there any deal breakers? Is an agreement essential? Consider also your best alternative before shutting off negotiation, commonly abbreviated as BABSON.
  • Any related legalities and statutory aspects should also come into focus in your preparations. Remember aspects related to deadlines, notices, the law etc. I believe you see the value of learned friends here, don’t you?
  • Some general issues such as the venue, timing, duration of negotiation, post negotiation issues, unique social and cultural issues etc should not be forgotten. Imagine you are dealing with foreign partners who consider negotiating while eating to be a taboo. And here you are proceeding with the deal right in the middle of a very good lunch that deserves utmost attention. Won’t you just spoil everything? Imagine again your team talking for the whole morning when your partners consider only two hours adequate to strike a deal. You may just be accommodated. You have to be smart.

It’s good for you to prepare adequately. You winning chances are greatly increased by this aspect. Now, why not make use of all the above next time you are preparing to negotiate? I wish you the best in your future business negotiations.

For more resources on enterprise management skills you can consider The Wise Entrepreneur.

Respectfully,

Clayton Mwaka

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