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Overview
If you deal with vendors and suppliers on a routine basis, you know how hard it is to bargain and negotiate agreements where everyone (and especially you!) walks away satisfied. This essential course will give you the upper hand at the bargaining table, and arm you with the right tools for getting lower prices, quicker delivery, higher quality and better service.
Agenda
Negotiation 101 — Bargaining Basics You Shouldn't Be Without
- Common myths and beliefs about negotiation — you'll be surprised at what you don't know!
- "Solving the problem" and "maintaining the relationship" — the two main directives of any negotiation
- The five classic negotiation approaches
- Defeat (I win/you lose)
- Accommodate (I lose/you win)
- Withdraw
- Win-Win or Collaborate
- Compromise
- Understanding the five-step cycle of negotiation and how it affects your outcome
Preparing to Succeed — Devise a Plan, Develop Your Strategies and Play to Win!
- How to choose the bargaining approach that’s best for your situation
- Creating a supportive climate to set both parties at ease
- Two requirements for a win-win to take place
- Situations in which compromise may be your best bet
- The differences between an RFP and an RFQ and how to use these in your bargaining efforts
- Alternative sourcing: How to use this buyer’s weapon to your advantage without shutting down negotiations
- A look at the pros and cons of international sourcing
- Four different bargaining personalities and how to handle them when you’re negotiating face-to-face, by telephone and through email
- Cultural differences you must be aware of when negotiating with diverse parties
- BATNA: What it is and why it’s absolutely critical to your buying strategy
- How to use the Law of Prominence to forecast the seller’s position
- Using scripts, timing and nonverbal behavior to obtain your “aspiration price”
It's Your Move — How to Strengthen Your Position and Stay in Control
- The “flinch” and the “poker face” — how to use these two powerful nonverbal clues to your best advantage
- Your next move when the seller says, “That’s my best offer … take it or leave it!”
- A valuable checklist of things you can and should negotiate on when the seller can’t — or won’t — budge on price
- Why you should insist on a face-to-face meeting when a seller contacts you with word of a price increase
- Creative bargaining alternatives: how to respond when a price increase is inevitable
- A simple way to figure cost analysis
- Why you should base your negotiations on cost analysis, not price
- Commodities and services that are best for price negotiation
- Making negotiation a team effort — preparation, strategies and key issues to remember when negotiating with a team
Use These Tools and Techniques to Gain the Upper Hand and Come Out a Winner!
- When you can’t meet in person: tools, techniques and methods for negotiating electronically
- How to probe for information without sending up any red flags to your opponent
- Learning to “listen between the lines” and quietly build your case
- What motivates sellers? What are they really thinking? Insider information to help you understand “what’s inside their heads” and use it to your advantage!
- Tips for coming off powerfully and assertively without being seen as an aggressor
- The truth about concessions: how to demand them, how to accept them and how to make them seem like a really big deal
- How to break deadlocks and move forward when talks fall apart and negotiations are at a standstill
- Increasing your powers of persuasion and guiding your opponent to your way of thinking
- Negotiating the contract: Don’t get tangled up in the fine print
- Essential terms and conditions you’ll want to include on every contract
- Buyer’s remorse — what it is, why it happens and what to do when it suddenly affects you
