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Glenn Faulkner

Influence Negotiation Building Stronger Relationships & Trust sm. presented to. NIRI Richmond Chapter. Glenn Faulkner. 703 204 1669 gfaulkner@WatershedAssociates.com. Red Yellow Green Blue Red Blue Yellow Green Blue Red. Red Yellow Green Blue Red Blue Yellow Green Blue

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Glenn Faulkner

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  1. Influence Negotiation Building Stronger Relationships & Trustsm presented to NIRI Richmond Chapter Glenn Faulkner 703 204 1669 gfaulkner@WatershedAssociates.com

  2. Red Yellow Green Blue Red Blue Yellow Green Blue Red

  3. Red Yellow Green Blue Red Blue Yellow Green Blue Red

  4. Think big, ask for what you want B A T N A B/L LAA Goal MDO Defining Your Negotiating Opportunity MDO – Most Desired Outcome LAA – Least Acceptable Agreement B/L – Bottom Line BATNA - Best Alternative to a Negotiated Agreement

  5. Think big, ask for what you want And Determine What They Need LAA MDO Yours Mutual Motivation Theirs LAA MDO Are the goals aligned?

  6. Never say No…or Yes NO! NO! NO! NO! • Ends discussions • Is face losing YES! • Invalidates last offer • Violates trust • Cuts off creativity • Removes give-and-take The Negotiated Yes…"Yes, if" • Allows you to say yes • Validates your opening offer • More engaging • More likely to generate creativity

  7. Make smaller concessions • Give value, but don’t rush • Progressively smaller concessions • Allow counterpart a sense of satisfaction • And don’t forget to summarize early and often

  8. Make smaller concessions Concession Patterns A 300 B 300 C 300 D 300 E 300 Pattern MDO 1 2 3 Goal 300 300 300 200 275 250 225 200 295 285 265 200 200 200 200 200 250 220 205 200 LAA = 150

  9. Always be patient The Power (and risk) of time • A quick solution may be a bad solution • Patience softens expectations and encourages flexibility • Patience allows them time to accept tough choices • Beware, their patience may compel you to make unnecessary concessions • Deadlines force concessions • Establish deadlines for them • Probe any deadline they set

  10. Don’t negotiate too early in the process Always be patient MDO LAA No perceived value in agreeing Yours Theirs LAA MDO

  11. Always think creatively • A low cost to You but a high value to them • …or a low cost to them, high value to you • Interests and needs, not positions or demands • Put yourself in their shoes • Avoid zero-sum exchange vs. value creation • Will be different from situation to situation Creative concessions are “painless”

  12. Always think creatively When did we stop being creative? • Percentage of highly creative people at the age of 5 • Percentage of highly creative people at the age of 10 • Percentage of highly creative people at the age of 22, 32, and 42 90% 10% 2%

  13. Prepare, prepare, prepare Sources of Information • What does the counter party want? • Peer organizations • Past negotiations • Legitimacy- • Industry Standards • Third Party Measurements • Newspapers and magazines

  14. The most powerful thing you can do is make offers and proposals. • You cannot negotiate an argument • You can negotiate proposals • Proposals keep the other side engaged • An offer or proposal compels a response: • Accept • Counteroffer • Probe

  15. Never say No…or Yes 1. “If we can find a solution on this one item, can we get a final agreement today?” 2. “What if we…” (the hypothetical) 3. “In a perfect world, what would this look like to you?” 4. Maybe you need only to acknowledge the objection When THEY say “No”: Handling Objections You find out by probing:

  16. Never say No…or Yes When THEY say “No”: Handling Objections • Need more information on the other side? • Need more information on Your solution, position, product, organization, market, etc.? • Need more information on stakeholders? • Are you talking to the right person/people? • Maybe this is not a good agreement? • Should you execute your BATNA? How well did you prepare?

  17. So Remember • Think big and ask for what you want • Be patient do not fill the silence • Be creative, look for low cost high value • Preparation and legitimacy advance your position • Use linkage through the negotiators yes Good Negotiating ! Glenn Faulkner

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