Plan Prepare and Practice.
Remember the 6p’s.
Proper, preparation, prevents, pretty, poor, performance.
What are your BP – TP – WAP – AP? (Best position, Target Position, Walk away position, Alternative position)
- What do you visualize as their BP – TP – WAP – AP?
- Have you checked your positions to the current market conditions?
- What is the basis of your estimate of theirs?
What are your ‘tradeables / variables?’
- Tangible – Price, fee / other business / tariffs etc.
What are your intangible ‘tradeables / variables?’
- Extras / your relationship / hospitality / networking / leads / reciprocity etc.
How are you going to trade concessions?
- Start high? Start realistically to the local market?
- Why do you think this will be best?
- What ‘variables / tradeables’ will you use?
- Come down in small amounts
- If you – then we could / we might
- Does the customer price match, talk to other competitors, have other accounts, play hardball.
- What legitimate tactics might you use? Higher authority, good guy / bad guy?
- Have you considered having someone else at the meeting?
- How will you handle dirty tactics?
Quality questions to break a deadlock
- How far are we apart?
- What would I have to do to get this deal?
- What would I have to do to get a part of your business?
- Would that work for you?
- What is the offer from the other party?
- Could you let me have a copy to put in our file for Head Office?
Remember – People buy people – What’s in your toolbox?
“If you think hiring a professional negotiator is expensive – try hiring an amateur”