Negotiation Meeting
[ni-goh-shee-ey-shuh n] [mee-ting]
Negotiation meetings are typically where most of the deal is negotiated, with business negotiation meetings these days being face to face and via voice. The proper planning and effective running of negotiating meetings can make or break a deal. The more complexity involved, the more important getting the negotiation meeting planned correctly becomes.
Negotiation meeting factors to plan:
- Who should and who shouldn’t attend, how long each person need attend, team versus individual attendance, roles and responsibilities
- Agenda: Who writes the agenda, what issues appear on the agenda and their order
- Venue: Formal or informal, your office or theirs
- Length of meeting
- Framing of the meeting, and the main issues
- Style of negotiation – e.g. collaborative or competitive
- Staging of meetings – e.g. relationship building may be the priority for the first meeting, and detailed discussions on products and services may follow in a later meeting
- Trading Plan to make effective trades to maximize value
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