Negotiation Teams need a Vision!

Negotiation Teams need a Vision!

I recently had the pleasure of being on a panel discussion in Australia on the impact of human intelligence (Hi) and artificial intelligence (Ai) and creating a competitive edge by combining both. The main question is always “where do we start”? Start with your strategic goals. Ai and Hi are most successful when you use them to solve a problem or leverage an opportunity. A key message was - technology is an enabler, but success depends on leader’s ability to use technology and people together.

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Organisations must be Negotiation Ready!

Organisations must be Negotiation Ready!

“Where do we start?” The strategic direction of organisations are most effective when solving problems or leveraging opportunities.

Over the last few years, around the world, I’ve been fortunate to have researched and delivered some negotiation workshops on how and why organisations need to develop teams of negotiators and not just individual stars.

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Negotiators Need a Framework and Need to be Stress Tested

Negotiators Need a Framework and Need to be Stress Tested

Some companies and industries are slowing down for their summer holidays and end of year celebrations. However, in other industries like the pharmaceutical and healthcare sectors, January is busy with training and planning for 2019. Last week, a manager asked, “How do teams prepare for negotiations with major accounts?”

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The Negotiator's Dilemma: Ai or Hi®

The Negotiator's Dilemma: Ai or Hi®

As humans, how do we change our minds? How do we change our behaviour to negotiate for a new product or a new service? Like it or not we need to change because of artificial intelligence (Ai).

In 2015 the world of Ai changed forever because for some tasks the accuracy of Ai now exceeded the accuracy of humans. After this change, many leaders and industries realised that there was now an urgency to change.

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I have a great Answer - who has a fantastic Question?

I have a great Answer - who has a fantastic Question?

I love seeing successful professionals at work: watching a great tennis player return an unwinnable shot, or a swimmer come from behind to win the greatest race of her life.

It’s the same as when in a tough negotiation someone asks a great question that unlocks value, breaks a deadlock or achieves a great outcome.

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End of Financial Year: Ready, Set, Negotiate

End of Financial Year: Ready, Set, Negotiate

n business, we are bombarded by information telling us that it’s the end of the financial year. Go to the mall, and JB Hifi and Harvey Norman shout at you too. We’ve even created a new word EOFY.

So what does that mean for you? Well, there are some opportunities to negotiate good deals. Why? Because you know that the other person is negotiating with a deadline and they need to get the sale. 

What do we mean?

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Negotiating: How can you send signals without saying a word?

Negotiating: How can you send signals without saying a word?

Consider a typical two person negotiation: buying a house or buying a computer. Our experience shows most of these negotiations involve four major issues. For example, with a house: buy price, when to exchange money, size of deposit, what existing items in the house will be included. Or, when buying a new car: buy price, trade in value for existing car, length of warranty and what extras might be included (e.g. better audio system, rust proofing or special wheels). Whenever preparing for a negotiation we always advise you to use a planning sheet.

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What is your Negotiation Style?

What is your Negotiation Style?

Everyone is individual, yet we alter our behaviour according to different circumstances. Think about the way you interact with your friends. You don’t treat all your friends the same, do you? Isn’t there someone you know who’s a bit more sensitive than most – so you have to be extra careful not to hurt their feelings. Or what about that member of the family with such thick skin that you need to be blunt?

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Creativity in Negotiations Means Thinking Differently

Creativity in Negotiations Means Thinking Differently

As negotiations become ever more complex, it is necessary to find more creative solutions to make sure both parties gain value. To be creative in a negotiation you need to think differently, using your imagination to find original ideas. Here are three ways you can open your mind to be creative:

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Do you know the real Interests in the Negotiation?

Do you know the real Interests in the Negotiation?

To find out what the real interests are in your negotiation you need to follow Roger Fisher's advice: separate the people from the substantive issues.

Over the years, I have been an observer and adviser to many global negotiations with individuals and companies that fail to heed this advice, and they always fail.

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What is your risk-taking style when negotiating?

What is your risk-taking style when negotiating?

There are two main risk-taking styles on the continuum. It is important to know your basic style, as it has a great impact on your willingness to take risks during a negotiation. But, regardless of your personal style, you will move along the continuum and back again during a negotiation.

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How can you expand the size of the pie in negotiations?

How can you expand the size of the pie in negotiations?

To make a decision in a negotiation you need to understand what will satisfy you and what you need to do to satisfy the needs and interests of the other party. Do they value the process of expanding the pie or are they fixed on a single outcome?

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Why bother with a negotiating process?

Why bother with a negotiating process?

Your world is changing, and changing fast: characterised by turbulence; shifting regulations, evolving technology, economic uncertainty, and competitor movement and changing customer needs. These fast changes mean that you and your negotiation team needs to be more agile in response to these drivers.

As we continually say in our books and blogs, competitors are becoming more aggressive – favourite weapon of choice price. Customers are becoming more demanding, and shareholders are demanding increasing profits: so companies must either increase revenue or increase productivity. However, increasing revenue and productivity is getting harder.

The success of a negotiation depends on the planning and preparation done beforehand for each of the four distinct phases of the negotiation process:

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