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Breakout Session #104 Tom Reid Chief Problem Solver Certified Contracting Solutions, LLC Louisville, CO www.certifiedK

Advanced Negotiation Techniques Dealing with Negotiation Fears. Breakout Session #104 Tom Reid Chief Problem Solver Certified Contracting Solutions, LLC Louisville, CO www.certifiedKsolutions.com April 15, 2008 10:45 to 11:45 AM. What Are You Afraid of?. Innate Fears.

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Breakout Session #104 Tom Reid Chief Problem Solver Certified Contracting Solutions, LLC Louisville, CO www.certifiedK

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  1. Advanced Negotiation Techniques Dealing with Negotiation Fears Breakout Session #104 Tom Reid Chief Problem Solver Certified Contracting Solutions, LLC Louisville, CO www.certifiedKsolutions.com April 15, 2008 10:45 to 11:45 AM

  2. What Are You Afraid of?

  3. Innate Fears • Loud noises • Falling • Abandonment

  4. Fear of Negotiating • Key skill for contract managers • One of the major impediments to effective negotiation is fear

  5. Primary Fears in Business • Fear of looking foolish • Fear of the unknown • Fear from past bad experience

  6. Fear of Looking Foolish • We all want to be a “good person” • Leaders • Parents • Competent business people

  7. What is the “Perfect Deal”? • Depends on the circumstance • Depends on your perspective • Depends on your goals • Can a good deal go bad?

  8. Reject my Deal – Reject Me • We personalize our effort • You are “tainted” by bad results • Even if you did not cause them • Even if you could not have avoided them • You feel you can’t save face • Your reputation as a negotiator is bad

  9. YOU ARE A FAILURE!!!!

  10. REALLY????

  11. What is Success? • We all want to bat 1.000 • In business, often anything over 50% is pretty good • Success is amorphous • You can’t know what “might have been” • Position yourself to: • Capitalize on positive risk • Minimize negative risk

  12. Mistakes • Part of being human • If not making any – probably not doing anything • Accept your mistakes; you can’t change history • Learn from them • You don’t fail until you stop trying

  13. Fear of the Unknown • You can’t know everything • There is more you don’t know than you do know • Seek training in negotiation skills • Have substantive knowledge of the situation

  14. Understand the Process • Does the first person who speaks always lose? • Is good cop/bad cop a legitimate technique? • When is it appropriate to slam your fist on the desk and walk out?

  15. Understand the Subject Matter • Do you know what you are buying? • Have you gone out and “kicked the tires”? • Do you know your company’s strategic plan? • Do you know whether cost, schedule, or technical excellence is the key driver for your company?

  16. Understand the Relationship • What do you know about the other party? • Would you want to have a beer with them? • What motivates them? • Why are they doing business with you?

  17. Fear of Change • One of the greatest learned fears • Every day is a new adventure • The only constant in life is change • Deal with it!

  18. What Did You Know And When Did You Know It? • Known knowns • Known unknowns • Unknown unknowns

  19. Fear from Experience • Experience is an excellent teacher • “Tried it once and failed, so I’ll never do THAT again!” • Experience allows us to rationalize • Can you explain WHY it was a bad experience and learn from it?

  20. So – What to do? • Prepare • Study and practice • Understand power • Understand fear

  21. Prepare • Understand the subject matter • Know your company’s objectives • Prepare your BATNA, then improve it • Be rested and nourished • Have a negotiation plan/agenda • THINK!!

  22. Study and Practice • Ever fly with a pilot who had NOT been through the simulator? • All skill development takes study and practice • What was the last book on negotiation that you read? • Do you do mock negotiations, murder boards, or lessons learned for your negotiations?

  23. Understand Power • Power is like money – neither good or bad • Power exists whether you recognize it or use it • Often it is more perception than reality • Preparation exhibits power

  24. Understand Fear • Negotiations are not usually fight or flight situations • Most fear is self generated • Called WORRY • Treat fear signals as opportunities for positive change • Developing relationships reduces fear

  25. What Does Zig Say? • F.E.A.R = False Evidence Appearing Real • Fear motivates • Harmful fears versus helpful fears – know the difference • Fear can be your friend

  26. Conclusion • Success requires responsibility • Don’t fear negotiations • Prepare • Understand • Study • Build relationships • Position yourself to pass it on

  27. “The first responsibility of a leader is to define reality. The last is to say thank you.” Max De Pree Author & Business Executive

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