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Negotiation Place: Does Turf Matter?
by - Marty Latz
At the close of the day, I was escorted into his corner office. He was the managing partner of the law firm, and he sat behind a huge desk, in the power position. It was my final interview. If it went well, I hoped to receive a job offer. So began our negotiation. Many would state that I was already at a disadvantage. I was on his turf, in his office, at the mercy of his schedule, and he ruled the environment. I'm not so sure. While these factors can provide a leg up, I discovered some important
Business Contract Agreement Advice
Once upon a time, business people would seal a transaction with nothing more than a robust grasp of arms or a firm handshake. When the deal fell apart, they often settled the matter through a pain filled contest of weapons. Whoever was clubbed senseless or killed lost the argument. Years down the line, someone wiser, and probably less skilled with club or sword, decided there had to be a better way. And yes Virginia (in the U.S.of A ), is where lawyers originated, and aren't we all
Business Negotiation Preparation
All good negotiation plans are premised on well-chosen strategies and adapting our tactics to meet new challenges. Preparation is not based on guesswork but on intelligence, and even more importantly, negotiation research. It is one thing to prepare for negotiation within our own country, but it is entirely different when we consider a business partnership that operates within an altogether different culture. If we don't prepare wisely beforehand, then we're likely to
Getting them to the Negotiation Table
We have a vision that's going to set the world on fire and make us appear like a hero, if we can pull it off. What if the other negotiator doesn't want to come to the table? What happens if we do get them there, greet them with smiles and extended hand, and they respond with grim faces shadowed with deep suspicion? To get our negotiations off to a solid positive start, there are two hurdles we need to overcome before we set out on a positive foot. The first hurdle, is to get the other side to
Building Trust in your Business Negotiation Relationships
Businesses' long term success can be judged by the extent to which they build and nurture their relationships. Every business is dependent on their internal and external relationships, between groups and individuals. We have suppliers, customers, clients, employees, collective bargaining unions, local communities and many more. Whether we realise it or not, we interact with these groups and individuals through our relationships with them. So how do we keep these relationships
Morals, Ethics & Feelings in Negotiation
One of my clients, a real estate developer, contacted me about a problem concerning a ten floor office building he was looking to rent. He was negotiating with a potential client, A, about renting 7 floors of the building. They almost had reached a deal but the draft of the contract was at A's office for approval. There had been no reply for a month. Meanwhile, another potential client B approached the developer about leasing the whole building at a higher rent than client A proposed
How to Boost your Business' Negotiation Skills
We learn by doing, and by doing, we can learn even more. Makes sense doesn't it? When we stop learning, we become like the dog frantically chasing its tail, spinning around and going nowhere. Our business cannot be allowed to become like a stagnant pond, that surrenders to erosion and eventually disappears into the ever-changing landscape either. A business thrives by remaining vibrant and adapting to the whirlwind of changes that challenge us as managers. We upgrade our equipment
Breaking Barriers to Business Negotiation Agreements
'You may be deceived if you trust too much, but you will live in torment if you don't trust enough' Frank Crane How in the world can we ever have hope to extend our civilisation to soaring heights, poised to caress the distant stars, without cooperating with each other? A business that toils away in isolation, in today's churning and ever evolving global world of dynamic commerce, will likely shrivel and perish with barely a noticeable whimper. There are many reasons why negotiations
Negotiation Attitudes & Behaviours - from Failure to Success
by - Jonathan Sims
Negotiating behaviour is primarily determined by mental attitudes. If we are to excel in negotiation, as in other fields of endeavour, we must delve deeper than the process itself. If we study a process, we might become more competent car drivers, average guitar strummers, 15 minute-mile joggers or bearable after-dinner speakers. If you're pleased with achieving 45%, 50% or 55% of what's on the table, then you can settle comfortably in your comfort zone. Achieving excellence
Boost your Negotiation Listening Skills
'Do you hear what I hear?' That's the flashing, neon question mark at crucial moments in our negotiations. When negotiators gather together after hearing someone speak, we discover that we often recall somewhat dissimilar versions about what was said. People digest what others tell them and provide their own unique interpretation about what was said to them. We're typically overconfident of having correctly heard the speaker. If someone were to tell you that you have to hone-up
Where Will You Draw The Line in Negotiations?
Probably everyone has seen some version of the tousled haired child, daring anyone to cross a line he has drawn in the sand. We use words to sketch imaginary lines to warn of an imaginary red flag boundary where we will not be pushed any further. Tolerance limits appear and are applied everywhere in our daily lives. From borders to production expectations, from curfews when we were hormone driven teens, to how much we are willing to pay for a used auto. We set limits to add definition
Using a Business Interpreter
"It must have got lost in the translation." This lame excuse is not something an international business negotiator wants to use when an important deal collapses. They also don't want to have an angry CEO, with beet-red face, waving a lawsuit from their foreign counterpart, and demanding to know what happened. We conduct many of our hard-won international deals in English, which is commonly viewed as the international business language. However, many negotiations require
The Unethical Side of Negotiation
'The pure and simple truth is rarely pure and never simple' - Oscar Wilde Welcome to the dark side! We are about to open the proverbial can of worms. This is not going to be a moralising sermon, but you are going to be asked to look inside and find out where you stand. It's unlikely you lived thus far without being 'taken for a ride', or duped by someone. Who has made it this far in life life without telling a lie? Even if it's only one of those little 'white lies', which many people accept as
Negotiating with 8 golden steps, the agreement table
People never plan to fail, but they often fail to plan. This is a sensible and shrewd maxim that has dogged many business owners through the ages. It's the prime reason why so many intrepid enterprises fail so miserably, despite the determined efforts of their proud owners. A grand idea had illuminated their hopes, and they thought or assumed they couldn't fail. They crashed into stark reality when their ledgers bled the color red, and consequently, the life of their business
Negotiation Approaches and Perspectives
'It is human nature to think wisely and act foolishly' Anatole France The worst mistakes are the ones we know we should've avoided in the first place. Yet, we will occasionally err because we are infallibly human. The best thing we can do is to try and recognise those errors that are most avoidable. When sitting down at the negotiating table, it might be a good idea to get ourselves into the habit of going through a mental checklist. This is the time to lean back and take a reality check.
Use Your Negotiation Style - Don't Let It Use You
In our approach to both our personal and professional lives, everybody has their own unique style when dealing with problem solving, dispute resolutions, or negotiations. Our individual personalities were formed early in our childhood, tempered and sculpted by a lifetime from coping with the raw experience of life. Every situation that we face acts as a teaching aid. We learn to adapt our own unique style in tackling any future problems that lurks down the road of life. Our
Being Culturally Intelligent
by - Dr. Bob March
"WHEN IN JAPAN, BEHAVE AS THE JAPANESE DO" - IS THAT REALLY BEING CULTURALLY INTELLIGENT? Deciding on the right nuance of culturally appropriate behavior in Japan is not easy. I used to work with Colorado-born Fred Hevers in Tokyo. He spoke astonishingly fluent Japanese, much better than mine. Impertinent though it was of me, I once suggested to him that he was far too polite, when he spoke to many Japanese. He took it well, and seemed to ponder it. We both moved on to other jobs and
The Zone of Possible Agreement (ZOPA)
ZOPA might almost sound like a foreign word for a cheer of joy, or maybe even a new and exciting soft drink about to splash the marketplace. It's neither but if you have a wide ZOPA in your negotiation, it's nearly as sweet. Negotiation ZOPA stands for Zone of Possible Agreement. It's the blue sky range where deals are made, that both parties to a negotiation find acceptable. Whether we're buying something at a bustling yard sale, a country home, or entering into a complex business
Avoiding Common Pitfalls during Negotiations in China
Western business people are flocking to the Far East. China has clearly become one of the most sought after places that offer a near endless source of potential market growth. For many westerners, the eastern part of the world is a place steeped in mystery and a culture, both alien and fascinating to our way of doing things. China is a vast potential marketplace of over a billion plus potential. Millionaires spring up like weeds virtually overnight, while millions of peasants
Knowing When It's Time to Walk-Not Talk
"A long dispute means both parties are wrong." Voltaire Knowing when and how to negotiate is one thing. Knowing when not to negotiate at all, is an altogether different matter. Every savvy negotiator is aware that there are times to break off the talks for now, in order to enhance the talks later. Reasons could include a cooling off process or to re-evaluate new information. However, there are other thorny conditions which can crop up when the circumstances compel you to not negotiate