You Can Negotiate Anything.
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You Can Negotiate Anything.
Three keys to negotiation.
Most people don’t have any idea how frequently they are negotiating. If you are a parent, you are negotiating with your children all the time. (You just may not be as good at it as they are.) Think about it: getting dressed, doing homework, eating their vegetables, staying up past their bedtime. Kids have a natural tendency to ask for a little more than that which they are entitled. As adults, we don’t do this nearly as well.
But it’s definitely in your best interest to sharpen up your negotiating skills. They’ll not only benefit you, but they benefit your customers, your employees, and your vendors. So, here are three keys to successful negotiating.
First, get the facts. There’s a saying in negotiating that goes, “The side with the most information wins.” Years ago, I successfully negotiated a contract to staff all the skilled printing industry people for the world’s largest printing company (at the time), RR Donnelley. I did this without cutting my price one cent. The reason I was successful was because I knew information that my counterpart — the purchasing manager — did not know. For example, I was aware that the people in that department were desperately fighting a deadline and their current vendor was failing miserably. Having that piece of information turned RR Donnelley into my largest printing client in just four months’ time.
Second, know your counterpart’s deadline. There’s another saying in negotiating that goes, “The side with the shortest deadline loses.” I learned this the hard way years ago on a Delta Airlines flight when I had neglected to bring the boarding pass for my return trip with me. Since there was only one seat left for the return trip and the plane was leaving in six minutes, I had the shorter deadline and I had to pay several hundred dollars for another ticket. However, when I returned home, I wrote a letter to the president of Delta Airlines who not only issued me a full refund for the ticket, but also gave me a free round-trip ticket to anywhere in the United States for my inconvenience.
Third, always have more concessions than you are going to need. A concession is a bargaining chip. These are things you want to have, but are also willing to give up, if necessary. For example, if you are negotiating for a new job and you can’t get the full salary you want, you might be willing to sacrifice the higher salary for a signing bonus, extra vacation time, or an education budget to take additional classes. The more innovative you are, the more successful you will be getting what you want.
In any negotiation, the true success comes when both parties feel that they’ve given up something but are satisfied with what they’ve received. I challenge you to be as concerned that your counterpart feels as great about the outcome of the deal as you do.
“Negotiate in a way that you would feel great telling your counterpart’s mother, spouse, or children how you behaved.” – Dave Romeo
...it’s definitely in your best interest to sharpen up your negotiating skills. They’ll not only benefit you, but they benefit your customers, your employees, and your vendors- Dave Romeo
This excerpt is taken from my Communication Excellence III: Negotiation Excellence seminar. I encourage you to register for this seminar to be presented from 9 AM to 12 noon on Thursday, August 20, 2020 at the Comfort Suites in Manheim, PA. You can also view my Negotiation Excellence video program at Dave Romeo Online University.
Communication Excellence III: Negotiation ExcellenceVIEW SEMINAR
This academy is a 5 part series. Get a free Sales Mastery 6-CD audio program ($147 value!) Ramp Up Pricing Available (Ramp up payments are non-refundable) Contact Dave for...