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Best Negotiating Practices, a set of skills, behaviors and strategies that move you from fundamental understanding, to proficiency, to mastery in negotiations
Five step collaborative negotiating framework that ensures predictable, repeatable results as you build strong relationships
Prepare
- Explore value
- Define scope
- Identify and research stakeholders
- Develop fact base
- Analyze information & situation
- Begin to understand interests
- Define Most Desired Outcomes, Goals & Least Acceptables
- Identify alternate solutions
Exchange
- Discover and create value
- Exchange information
- Build rapport & trust
- Assess interests
- Probe for understanding
- Assess competency
- Validate assumptions
- Explore options
- Align goals
- Agree on agenda
Bargain
- Create and distribute value
- Communicate
- Make opening proposals
- Handle objections
- Probe
- Make and manage concessions
- Give and take
- Explore options
- Summarize often
Conclude
- Capture value
- Final summarization
- Gain commitment
- Finalize agreement
- Thank them
Execute
- Expand value
- Implement solution
- Ensure compliance
- Manage changes
- Strengthen relationship
- Maintain trust
Practical negotiating tips
Global Sourcing Manager
Cadbury
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Watershed Associates invites our clients, workshop participants and other business professionals who are serious about mastery of negotiation to blog with us. We hope you'll share ideas, successes and lessons learned with us and like minded negotiators worldwide. Read more...
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