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The Art of Negotiation

Lisa Pritchett

Lynne Wester

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What We Will Cover

• What Works

• What Doesn’t Work

• The Customer Experience

• The Vendor Experience

• Budgets and other Four Letter Words

• Tips and Tricks

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Why is Negotiation Important?

• Builds a Foundation

• Beneficial for All

• Sets Expectations

• Allows for Creativity

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What is Negotiation?

• "A negotiation is an interactive communication process that may take place whenever we want something from someone else or another person wants something from us.”

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What Works

• Listening

• Being Fair

• Being Honest

• Giving Choices and Options

• Timing

• Doing Preparation

• Be Willing to Walk Away

• Establish a Relationship

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What Doesn’t Work

• Unfair Demands/Expectations

• Raising Your Voice

• Coming Unprepared

• Not Listening

• Making everything Black and White

• Personalizing the deal

• Not being patient

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The Customer Experience

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The Vendor Experience

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Alternatives to “NO”

• “I don’t think this really works for me.”• “Can I suggest another alternative?”• “Maybe we can discuss this further.”• “I like your proposal but there are some

points which I will need to clarify.”• “Let me think about it, I will get back to you.”• “I can’t do this but I can…”• “I understand your situation but I can’t confirm

anything until …”

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Budgets

• Be clear about your budget up front

• Be creative

• It’s not always about the money

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Books and Resources

• Bargaining for Advantage: Negotiation Strategies for Reasonable People, by G. Richard Shell.

• Deal Power: 6 Foolproof Steps to Making Deals of Any Size by Marc Diener.• Getting Past No: Negotiating Your Way From Confrontation to Cooperation, by

William Ury.• Getting to Yes: Negotiating Agreement Without Giving In, by Roger Fisher and

William Ury.• Influence: The Psychology of Persuasion, by Robert B. Cialdini (Rev. Ed., 1993).• Legal Negotiation in a Nutshell, by Larry L. Teply.• Secrets of Power Negotiating: Inside Secrets from a Master Negotiator, by

Roger Dawson.• Smart Negotiating: How to Make Good Deals in the Real World, by James C.

Freund.• The Negotiation Tool Kit by Roger J. Volkema.• The Power of Negotiating: Strategies for Success by Mike R. Stark.• The Tao of Negotiation by Joel Edelman and Mary Beth Crain.• The Total Negotiator by Stephen M. Pollan and Mark Levine.

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Thank You!!

• Questions??

• Comments??

• THANK YOU!

• Lisa Pritchett

• Lynne M. Wester