VPanel Debate:

Can there ever be true partnership when money is changing hands?

Panellists:Rob ManningBob BannisterSteve GladwinLucy Jeynes

V

Lucy Jeynes, Larch Consulting

The Art of Intelligent Negotiation:

“Getting To Yes”

V

V Preparation

“If I had six hours to cut down a tree, I’d spend the first four sharpening the axe”. (Abraham Lincoln)

– What are your relative rankings?– What’s the current relationship?– Do you need to maintain a relationship in the future?– Are you buying or selling?– Can you be a good negotiator without losing touch

with your principles and values?

V

V Goals

• What do you want to get out of the negotiation?

• What do you think the other person wants?

• Think about and map these outcomes

V

V Trades

• What do you and the other person have that you can trade?

• What do you each have that the other wants?• What are you each comfortable giving away?

V

V Alternatives

• If you don’t reach agreement, what are the alternatives?

• Are these good or bad?• How much does it matter if you don’t agree?• Does failure to reach agreement cut out future

opportunities?• What alternatives does the other party have?

V

V Relationships

• What is the history?• How will this history impact the negotiation?• Are there any hidden issues?• How will you handle these?

V

V Outcomes

• What outcome will people be expecting from this negotiation?

• What precedents have been set in the past?

V

V Consequences

• What are the consequences for you of winning or losing?

• What are the consequences for the other person?

V

V Power

• Who holds what power in this relationship?• Who controls resources?• Who loses most if agreement isn’t reached?• What power does the other party have to

deliver what you hope for?

V

V Compromises

• What possible compromises might there be?• How can each party come away from the

negotiation feeling positive?

V

V Exploration

• Negotiation is a careful exploration of your position and the other person’s position

• The goal is finding a mutually acceptable compromise that gives you both as much of what you want as possible

• Ideally, the other person wants what you are prepared to trade, and you are prepared to give what the other person wants

V

V What’s your style?

• Be confident and authentic• Don’t assume it’s a battle!• Be prepared – think things out• The nice guys don’t always come last

V Five Tips

V

V Learn to Flinch

• A visible reaction to the offer or price• Makes the other person feel uncomfortable

about the offer they’ve presented• Leave them to respond

V

V Ask for more

• Ask for more than you expect to get• (Be cheeky rather than insulting)

V

V Do your research

• The person with the most information usually does better

• You need to learn as much as possible about the other person’s situation, motivation, wants and needs

• If you are selling - know as much as possible about your competition and their offer too

V

V Practice

• Practising all the time will help you become more confident

• It will help you to see that there is more scope for negotiation than you think

• Good situations to practice?

V

V Be ready to walk away

• Make sure you have an alternative• The most powerful negotiating position is the

one where you don’t need to do a deal

V

RE-CAP

V Preparation

V

V Five Tips

V

V

“My job is to make it better than it was when I got here”. Lee Iacocca

@LarchLucyLucy Jeynes lucy@larch.co.uk

WWwwww.larch.co.uk

larch.co.uk lucy@larch.co.uk