Special report – press release
Speaking at the international professional speaker’s annual convention in Birmingham – negotiation adviser and expert Derek Arden gave the audience from all over the world the following advice for negotiating in the credit crunch, recessionary conditions we find ourselves in
1 – Haggle everything. But before we haggle make sure we have built rapport with the person. They will be more receptive to helping you.
2 – Ask twice or three times, check their body language. Talk to the decision maker. If you don’t have another offer to buy the product then say this “ I want your absolute best price
3 – Be careful with what people are telling you. There has been an incidence of more aggressive behaviour since times got difficult. The truth may not be exactly what people are telling us. Lying to save your skin is happening much more often. Tell tale signs of lying are there to be spotted
4 – Be very careful with organizations that are not doing well. Banks, insurance companies in particular. They have instructed their people to take no risks even though they have been taking unacceptable risks previously. This leads to a fear culture within the organization and poor decision making.
5 – Look out for unacceptable negotiation tactics to get you buy. Subscribing to surveys, reports, charitable things which are not for the purpose they say they are.
6 – Fraud is more prevalent, safe guard all your documents, credit cards, pin numbers, electronic banking numbers. Keep a copy of everything in a safe place where you can access it.
7 – Cash is King – A deal is not a deal until the cash is in the bank. There are too many people owed money at present and they should have been paid by now. Make sure your terms of trade are strict and you stop work if the other party has not paid by the agreed date. You have to retain the power in the negotiations. You do not want to be nursing a bad debt – and banks will have no sympathy with you, they are too busy dealing with their own stupidity.
Finally – Cash is King. However remember where you have your cash is important. Some people still have their cash tied up in an Icelandic bank or in a bond trough an offshore account which is not subject to a Government guarantee.
Derek Arden is an International negotiating expert. He is an author and presenter who has negotiated and spoken in 27 countries. www.derekarden.co.uk