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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

Tactics            

  • 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”