Course Outline:

Part 1: Mind of the Negotiator

a. Introduction

• Group activity: “What do you say during a negotiation?”
• Anchoring the Power
• Group activity: "Deal or No Deal?"
• Discussion and review of live negotiations

b. What is Negotiation?

• The Process and the Psychological
• The Principled Negotiator

c. Versatile Frame of the Mind

• Purpose of the Versatile Mind: Firefighter
• Activity: “Common cases of failures in Negotiations”
• Principled Negotiation

Part 2: The Cycle of Negotiation

a. The Circle of the Negotiation Phases

• Principled Negotiations
• Building trust during negotiations
• Introduction to 7 Elements Framework

b. Communication Skills to Control Negotiation Climate

• Master assertive talk to gain understanding & earn trust
• Activity: Show you understand
• Reframing skills for better negotiation
• Identifying reframing context/needs/consequences
• Activity: Reframing with Tact

c. Reframing to Personality Types

• DISC Personality Profiles
• Activity: Know your negotiation style

d. Team Negotiation Roles

• Belbin Model: Shaping your team to negotiate
• Activity: Setting your team roles

e. Common Clues to Deceit

• Communication signals of deceit
• Signal sources: Face vs. Body vs. Word
• Avoiding and discerning the signals with care

Part 3: Establishing the Relationship and Interests

• Interests of Negotiating parties
• How to establish the interest behind the position
• Activity: “What’s his interest?”

a. Price Positions and their Consequences

• Buyer’s learning from seller’s position
• Common selling mistakes in price positions
• Common buying mistakes in price positions

b. Identifying Options and Benchmarks

• Why price is not the only option
• Seller’s acceptance for vendor profit
• Buyer’s validation for seller’s profit
• Activity: Validate for your premium
• Buyer’s strategies beyond price
• Seller’s strategies beyond price
• Activity: Identify options for seller

Part 4: Establishing the Relationship and Interests

• Managing “standards” in a conversation of claims
• Activity: Identify standards of fairness
• Strategies to find out competitor’s pricing

a. Alternatives and Commitments

b. Alternatives if Negotiations Fail

• BATNA and why you need to anticipate your bottom line
• Common mistakes in handling BATNA
• Activity: Identify Client/Seller BATNA

c. Commitments in a Negotiation

• Commitment – common myths in closing well
• Commitment during a pending outcome
• Activity: Issues in an agreement

Part 5: L.O.U.D.E.S.T Framework

• L.O.U.D.E.S.T Negotiation
• Personal vs. Professional Satisfiers
• Activity: Checklist for negotiation
• Launch and offer guidelines
• Activity: Opening Launch/Offer dialogue
• U-Turn Qualifiers

U-Turn Qualify and Dialogue

a. Responding to the Customer’s Tactic

• U-Turn Qualifiers and its purpose
• Activity: Qualifiers to customer’s move

b. Dialogue to digest detail

• Principles of controlling dialogue
• Using dialogue to create room
• Activity: Setting your dialogue probe proof
• Do’s and Don’ts of Dialogue
• Activity: Role Play Dialogue

Part 6: Concession Planning

a. Concession – A double edged sword

• Why customers want concessions
• Activity: Concession Game

b. Range of concessions

• Activity: Defining customer concerns and wants vs. sellers

c. Concession Strategies

• Activity: Designing your concession strategies

d. Price Discounting

• Why price discounting
• Why buyers find you expensive
• Defining value with price
• Activity: Prove your price
• Price objections and blunders to avoid
• Price objections strategies
• Activity: Price Objection Strategies

Part 7: Exchange Dialogue

• Stating the counter offer
• When to open high?
• Strategically using concession
• Activity: The concession exchange
• Techniques to stay on course
• Exploiting differences to find common ground
• Building momentum during the exchange

Common Buyer Tactics and Counter Measures

• Buyer tactics and their intentions
• Handling emotional tactics
• Activity: Common Buyer Tactics
• 6 Common buyer Tactics:
  1. Bluff
  2. Take it or leave it
  3. Nibble for freebies
  4. Budget constraints
  5. Good Guy bad guy
  6. Reserve Auction
• Activity: Role-play for counter measures

Part 8: Concluding the Settlement

• Last minute competitive moves
• Diffusing the tension in a deadlock
• Settling to “give in”
• Activity: Settlement
• Tie-up to verify agreement
• 8 steps to a win-win
• Activity: The negotiation end game