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How to Negotiate Successfully:  Hope Tactics (Part 3)

Posted by Andrew PIHF on Apr 20, 2017 12:38:52 PM

Part 3:  Hope Tactics

You say HOPE, he says GREED.  Either way, there’s some real optimism in the air.  Hope tactics point the conversation towards the most positive, top-line-growin’ scenarios imaginable.  If you’re selling hope, then you want to keep your approach happy, big-picture, and super-confident. 

Power makes him think he has no alternatives – fear makes him feel that all his alternatives are worse.  Appropriate use of hope tactics makes him think that he’s lucky to have you.  There’s a fortune on the other side of that wall, and you are the guy to navigate and open doors for him. 

Intent

Hope-Greed tactics are usually intended to focus the negotiation on variables that will increase the size of the total deal and/or the counterparty’s profits.  If you are fortunate, these tactics may get him to reveal his optimistic goal and collaborate with you to make it happen.  Less positive but still useful is when they push back to tell you what can go wrong – in other words, what they’re afraid of.

FlashMBA's Negotiators Toolkit

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Topics: Tactics, how to negotiate, PIHF, Hope

How to Negotiate Successfully:  Power or Influence (Part 2)

Posted by Andrew PIHF on Apr 6, 2017 2:26:31 AM

Part 2:  Influence – Hope or Fear?

If you have better alternatives than your counterparty and really don’t see any value in building a long-term relationship, then you are in a good position to use POWER TACTICS.  The only downside here is that if you do it right, then the guy across the table will try to replace or go around you the first chance he gets.  That’s ok with you, though.  That’s what the power play is all about:  leveraging your advantage and maximizing the value of this transaction. Most of the time, however, you are an influencer.  Either you need the relationship or you don't have the power to force the terms of a transaction.  What's next?

FlashMBA's Negotiators Toolkit

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Topics: Tactics, how to negotiate, PIHF, Fear, Hope, Influence

Tactical Tuesday: Good Friends (aka: Besties)

Posted by Andrew Hupert on Mar 29, 2017 2:54:04 AM

Good Friends

AKA: Besties, BFFs, Let's do lunch

Some deals are enhanced when you can build a cordial, professional relationship, and one of the best ways to do that is to get your counterparty out of the office and into neutral territory. Friendly is great, as long as it helps you. That means doing the analysis first, and then taking the lead on process issues, like picking the setting and engineering the terms of the new relationship.   At the end of the day, however, you have to make sure that the time and effort you put in is justified with specific gains.

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Topics: Tactical Tuesday, Tactics, how to negotiate, relationship building

How to Negotiate Successfully:  Power or Influence? (Part 1)

Posted by Andrew PIHF on Mar 25, 2017 12:59:07 AM

Every student or client I have ever trained to negotiate has one simple question floating around in his or her head – how do I WIN?   From the sharkiest competitor to the most cooperative collaborator, everyone wants to get something out of a negotiation.  

The answer is simple. You win by exerting either power or influence. Unforunately, in this case simple doesn’t mean EASY, it means NOT COMPLICATED.

Power: When you have at least one attractive alternative to this counterparty, and don’t care about the relationship.

 Influence: When you have limited alternatives and/or value the relationship.

(Spoiler alert – if you are reading this then you – like the vast majority of negotiators – are relying on influence.) FlashMBA's Negotiators Toolkit

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Topics: Tactics, how to negotiate, Power, PIHF, Influence, negotiating tactics

Tactical Tuesday:  Big Guns

Posted by Andrew Hupert on Mar 7, 2017 10:41:09 AM

Negotiating Tactic:  Big Guns

AKA:  Higher Authority

Description:  Sometimes you have to bring in the “Big Guns” from within your own organization – but it’s a good idea to make sure your own house is in order first.  

It is not uncommon to decide that  you need a little help from higher up in your own organization.  If you need more resources or a change in standard operating procedure to move your negotiation forward, then the only option is to move up the corporate ladder.

FlashMBA's Negotiators Toolkit

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Topics: millennial professionals, Tactical Tuesday, how to negotiate, big guns

Training Millennial Managers to Negotiate

Posted by Andrew Hupert on Feb 9, 2017 12:50:48 PM

Negotiating skills are key to career and leadership development, but for many millennial managers this is a challenging area.

Negotiation is a process for bridging the gap between where your organization is now and where you want it to be. At its core, the negotiation skill is really a very simple equation:

 Goals – Best Alternative
= Negotiating Agenda.

All successful negotiations are built around goals and best alternative (you may know the phrase BATNA – Best Alternative to No Agreement. Same thing.)

Millennials tend to have a quirky way of viewing goals and best alternatives, and they may not align with your training and onboarding needs.

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Topics: millennial professionals, L&D, Millennial, how to negotiate, millennial managers

How to Negotiate Like a Boss – Millennial Edition (Part 2)  BATNA Analysis

Posted by Andrew Hupert on Jan 30, 2017 3:49:11 PM

Takeaway:  Your bottom line position is your Best Alternative to No Agreement.  What have you got if there is no deal?

 

Last week  we discussed the difficulties of setting negotiating goal-systems, but that is only half the problem. The real difficulty is the other side of the range – the Best Alternative.

Boss Rules 

  • Alternatives are your main source of bargaining power.
  • Good negotiators are brutally honest about their options – and obsessive about building finding new ones.
  • The worse you alternatives, the more important that you understand is.
  • BATNA or Best Alternative to No Agreement sets the bottom line in a negotiation. This is your situation if there is no agreement (for whatever reason).  

Don’t let the “best” in BATNA – Best Alternative to No Agreement - confuse you. This is the bottom line, the no-deal option, the situation your are stuck with if the answer comes back as a definite NO.   It would be more accurate to call this the “least worst” option. It sets the bottom of your negotiating range, since no rationale actor willingly harms his own interests.  

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Topics: millennial, how to negotiate, BATNA

How to Negotiate: Dueling Narratives

Posted by Andrew Hupert on Jan 26, 2017 5:28:06 PM

A New Definition of Negotiation: Dueling Narratives 

Takeaway: Every negotiation is a duel between two competing narratives. You have your story, and he has his.

In your story, you are the hero – trusty and brave. Your treasures are rare and valuable; your requirements reasonable; the benefits immense.

In HIS story, you are a common peasant, your offering is ordinary and he has many other options – all at least as good as yours. If you start haggling over prices before you have won him over to your basic premise, you are fighting from a weak position.

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Topics: Dueling narratives, Millennial, Flash Points, Strategy, how to negotiate

How to Negotiate Like a Boss - the Millennial Edition

Posted by Andrew Hupert on Jan 23, 2017 10:01:55 PM

Takeaway – All business professionals need negotiating skills, but millennials tend to make their lives more difficult with fuzzy goals. A little professional skills training will give you the competitive advantage you need.

Boss Rule – Know where to open and when to walk away. That means setting good SMART goals and understanding your bottom line before you get to the negotiating table.

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Topics: Millennial, how to negotiate, SMART goals

5 Business Skills That All Negotiators Must Master

Posted by Andrew Hupert on Jan 19, 2017 11:15:04 AM

Business Negotiation is not a single skill.

It is 5 Business Skills...

and you have to master all of them to succeed. Good negotiators understand the mechanics of negotiation – the planning and tactical positioning – but that is just the
beginning. If you want to be a successful negotiator, you also need to master: 

  •             Business analysis & strategic planning
  •             Communication
  •             Management
  •             Critical thinking and problem solving
  •             Leadership

FlashMBA's Negotiators Toolkit

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Topics: millennial professionals, Negotiating strategy, Strategy, how to negotiate, Negotiating agenda, how to succeed at negotiation, Cross cultural negotiation, business skills,

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