Length: 2 Days
Negotiation Training
Don’t leave money on the table.
While organizations take competition for granted, they often overlook effective negotiation strategies they can use to cooperate and achieve better outcomes.
Employers’ failure to teach staff good contract negotiation skills and ensure that standard negotiation procedures are in place is costing them millions. One study reported that some 80% of respondents indicated that they currently had no internal negotiation processes in place, meaning that any concessions made during an interaction tended to be arbitrary.
To make matters worse, a further 84% failed to measure the success of any given negotiation after a deal was signed.
Negotiation is an integral part of creating value for an organization.
It’s a skill set that casts a wide net regardless of whether you are seeking project resources, deciding on a new hire’s salary, or inking a high-stakes deal for your company.
Negotiation is unquestionably one of the most crucial management disciplines and life skills. The study of negotiation, which distills into the question of how one might create value by improving upon our ability to achieve influence, and compliance in a transaction, is a human theme that concerns us all the time.
Negotiation professionals says it’s crucial to challenge and be assertive in everything. You also need to approach a negotiation with the mindset that everything gets settled. When you are confident, you will press on until you achieve whatever you want, and you will not accept a negative answer. This involves learning to express how you feel without showing anger or anxiety.
One problem is the myth that organizations still hang on to that good negotiators are born that way. Studies show that companies that have well-trained staff that take time to plan and have mature procedures in place tended to enjoy better negotiation outcomes. In fact, organizations employing negotiators with a high negotiation maturity benchmark score saw profits rise by an average of 42.5%.
The message is clear: If you do not understand what is negotiable or what you want from the negotiation, it will likely lead to a bad deal. Failure to plan results in negotiations may leave you angry or frustrated, spending more money, and investing more time than you have available.
Negotiation pros recommend saving yourself time, money, and emotional angst by planning the negotiation before the negotiation happens. Think about everything that you would want if it would be your dream negotiated agreement. While you may not be able to negotiate everything, it is important to have options.
Negotiation Training Course by Tonex
Negotiation Training focuses on solving the problem and closing the gap between what both parties want. Whether it’s allocating resources for a project, funding a new initiative or establishing a supply chain for a new product or service, or procurement of new equipment, negotiation is inevitably at the heart of the process.
Negotiation training, hands-on, with theory, exercise, workshop and case studies and videos, gives the attendees a step-by-step guide to effective negotiation. You must identify the problem, understand it from the other perspectives, generate alternative solutions and select a solution that benefits both sides. All parties need each other to achieve their goals.
Who Should Attend Negotiation Training Course?
Buyers, account executives, contract negotiators, sales professionals, sales managers, and anyone involved in selling and buying negotiation processes and would benefit from this negotiation training.
Negotiation Training Program Objectives
- Discover how to influence them and improve your profits!
- Regain the seller’s advantage over today’s more sophisticated purchaser with the help of this strategic sales negotiation training.
- Learn the tools, techniques and savvy sales negotiation tactics that enable you to influence your buyer’s perception of cost, value and benefits.
- Close the sale by maintaining a flexible position that successfully counters your buyer’s negotiating moves
- Discover through sales negotiation training how to improve sales margins and closing ratios
- Influence how customers view your product’s costs, benefits and value to them
- Anticipate buyer behavior and turn it into an advantage
- Establish your credibility as the buyer
- Develop confidence-building skills that maintain your control of sales negotiations
- Be ready to justify your price when meeting price specifications
- Use creative advantages to counter competitive offers
- What You Will Cover
- Understanding the sales negotiation process from both perspectives—yours and the customer’s
- Differentiating between selling and negotiating
- Using powerful sales negotiating/planning tools
- Addressing aggressive buyer demands face-to-face
- Developing stronger client relationships through win-win negotiations
- Applying strategies to favorably influence the four primary negotiating styles
- Creating a motivational climate for your buyer
Why Choose Tonex?
For nearly 30 years Tonex has been offering cutting-edge courses in advanced business and technology topics. Our client base spans the globe. We have helped individuals, organizations, agencies and businesses large and small stay current.
Our world glass instructors are experts in their fields and bring real world experience into the classroom.
Tonex is also flexible. Rather than push a one-size-fits-all curriculum, we can tailor our classes to meet your specific needs. Just let us know how we can assist you.
For more information, questions, comments, contact us.
Negotiation Training
Outline
Day 1
Introduction to Negotiation
- About the Program
- Why are we here?
- What do you want to take away?
What Is Negotiation?
- Define the Basic Concepts of Negotiation
- Define What Is Negotiable in Typical Business Situations
- Identify Approaches to Negotiation
- Define Your Negotiation Style
- Rules on Procurement Negotiation
- Negotiation Stages
- Identify the Six Stages of a Negotiation
- Use Appropriate Behaviors in Each of the Stages
- Define the Influences on the Negotiation Process
- Planning Your Negotiation
- Plan a Negotiation
- Determine a Settlement Range
- Apply the Planning Framework in Practice Negotiation
- Apply the Persuasion Process
- Use the Frame/Reframe Process to Understand the Other Party
- Examine Possible Approaches to Use When There Is Confrontation
- Use Listening Skills in the Negotiation Process
- Communication
Fundamental Negotiation Concepts and Process
- Sales Negotiation Process
- Role of the Buyer
- Perceptions of the Sales Negotiation Process
- Common Ploys and Countermeasures Used in Sales Negotiations
- Buyer’s Motivation in Most Situations
- Consultative Sales Processes
- Difference between Selling and Negotiating
- Selling First, Negotiating Last
- Premature Negotiation Pressure from the Buyer
- Know When and When Not to Negotiate
- Elements of an Offering
- Identify Negotiating Chips
- Create Value Which Offsets the Need to Make Concessions
- Value of Maneuvering Room, Concession Planning, and Planning
- Fundamental concepts to use in every negotiation
Plan and Prepare for a Negotiation
- Expectations impact a negotiation
- Sales Margins and Closing Ratios
- How Customers View Your Product’s Costs, Benefits and Value
- Buyer Behavior and Turn It into an Advantage
- Your Credibility with the Buyer
- Confidence-Building Skills That Maintain Your Control of Negotiations
- Role of the Professional Salesperson
- Difference between Manipulative Selling and Consultative Selling
- Key Sales Responsibilities of Professional Salespeople
- Integrative (value based) agreements
- Build trust and develop relationships
- Uncover the other party’s interests: how to ask and not ask questions
- Avoid communication irritators
- Build long-term relationships with the other party
- Identify and diffuse gambits (dirty tactics such as good cop/bad cop)
- Manage a multi-issue negotiation
- Skills of effective negotiators
- Create values
- Post settlement settlements
- How and when to present a proposal and counter-proposal
Integrative Negotiations
Multi-Issue Negotiations
Close of Day One
- Summary of key points
- Q&A
Day 2
Review of Day One
Team Based Negotiations and Preparation
- Manage complex team dynamics
- Skills for negotiating within and between teams (internal vs. external negotiations)
- Managing conflict and perceived power differences
- Work with difficult others
- Strategy for managing informational, procedural, strategic and social complexities
- Facilitate and manage the negotiation process (agenda, ground rules, decision rules, etc.)
- Create a super-ordinate goal and gain buy-in
- Importance of discussing the “no agreement alternative”
- Build a visual matrix
- Revisit the post settlement settlements
Cross Functional Teams
Close of Day One
- Summary of key points
- Q&A
Day 3
Review of Day Two
“Shadow” Negotiations: power, politics, coalition building, and agency issues
- Importance of “shadow” negotiations (negotiations that occur away from the table prior to an “official” negotiation), how they operate and influence the negotiation outcome.
- How and why coalitions are built, the positive and negative consequences of forming a coalition with colleagues, the instability of coalitions as well as “first mover advantage” in coalition formation.
- How agents and other parties outside of the immediate negotiation can wield influence and alter the “expected” negotiation process.
- How to build trust and why trust is important to maintain long-term relationships.
- Uncovering hidden interests to move parties toward problem solving and away from positional bargaining.
- Strategies to build power and determine which tactics yield the most influence with team members; discover how perceived power impacts a negotiation.
- Study how emotions impact negotiation behavior and how to manage their own as well as the other parties’ emotions.
- How others may perceive their behavior and understand the importance of observing the other parties’ behaviors both prior to and during the official negotiation; recognize signs of loyalty and betrayal.
- Ethical implications for their behavior and the impact of other’s perceptions of honesty on their reputation and future encounters.
- How phone and face-to-face negotiation interactions differ and which strategies are most effective for each type of medium.
- Part 1: Shadow Negotiating: Pre-exercise phone and e-mail communication
- Part 2: The Press Party: Informal Negotiations
- Part 3: Crisis Meeting: Resolution
Sales Negotiation Planning Tools
- Process of Establishing Settlement Ranges in Advance
- Concept of Planning for Concessions
- Power and Position in Sales Negotiations
- Evaluate Relative Strategic Positions of the Parties to a Sales Negotiation
- Fundamental Strategies for Various Power Positions
- Different Sources of Real and Perceived Power
- Improve Sales Margins and Closing Ratios
- Influence How Customers View Your Product’s Costs, Benefits and Value
- Anticipate Buyer Behavior and Turn It into an Advantage
- Establish Your Credibility with the Buyer
- Develop Confidence-Building Skills That Maintain Your Control of Negotiations
Close of Day One
- Summary of key points
- Q&A
Exercises, Workshops, case studies and Last Day Project
· Exercise #1: Fundamental Negotiation Concepts in practice
· Exercise #2: Integrative Negotiations in practice
· Exercise #3: Multi-Issue Negotiations in practice
· Exercise #4: Team Based Negotiations with issues of power and conflict in practice
· Exercise #5: Cross Functional and advanced negotiation skills exercise
· Exercise #6: “Shadow” Negotiations in practice
· Exercise #7: Cross Cultural Negotiations
Last Day Project: Practicing Win-Win Sales Negotiations
- A Sales Negotiation Exercise
- Define Practical Experience in Developing Settlement Ranges
- Define Practical Experience in Identifying Negotiating Chips
- Define Practical Experience in Planning Concessions
- Define Practical Experience in Completing the Sales Negotiation Planner
- Negotiation Planning Steps
- Evaluate the Sales Negotiation Process More Fully
- Determine If a Sales Negotiation Was a Winner for Both Sides
- Critical Mistakes to Avoid in Sales Negotiations
- Importance of Following through after the Negotiation Is Completed
- Achieving Success as a Negotiator
- Negotiating Problems
- How To Deal With Them, How Hard a Bargain Should You Drive After the Negotiation
- How You and Your Company Benefit, Review
- Prescription For Continuing Success.
- Defining Key Elements and KPIs which Can Lead to Success in Negotiations at UTS
Case Study: Negotiating a Mutually Profitable Win-Win Sale
- Appreciation for the Importance of Internal Negotiations
- Experience in Developing Settlement Ranges
- Experience in Identifying Negotiating Chips
- Experience in Planning Concessions
- Experience in Completing the Sales Negotiation Planner
- Effective in Sales Negotiation Planning
- Influence Buyer Behavior More Purposefully
Workshop 1: Profitable Win-Win Negotiation Plan
- Negotiating Practices on how to define a Mutually Profitable Win-Win Plan
Workshop 2: Thinking Beyond "Win-Win"
- The Negotiator's Dilemma: Cooperate or Compete?
- The Psychology of Change
- Working with the Six Laws of Influence
- The Anatomy of a Distributive Negotiation
- Creating Value through Integrative Negotiation
- Different personality, different underlying interests:
- Power vs. Leverage
- Beyond Listening
- Managing Your Emotions
- Dealing with Difficult People
- Finding Creative Solutions
- What Will We Take Away?