Negotiation Skills 101 – The Importance of Commitment

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Find out how important commitment is to negotiations.

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Negotiation Skills 101 – The Importance of Commitment

  1. 1. The Importance of Commitment Negotiation Skills 101
  2. 2. Prior to commencing any negotiation, it is important to know what you may and may not commit to.
  3. 3. If you are a seller, you need to know what your organisation’s WAP (walk away price) is, regardless of subsidiary terms and conditions.
  4. 4. If your walk away price is lower than the buyer’s, there is room for negotiation. If not, there will be no deal.
  5. 5. Remember, what you agree to in the negotiation will be reflected in subsequent legal paperwork, so you must be certain that your organisation can deliver. Training in how to negotiate is critical in assisting you to determine your negotiating partner’s absolute limits (such as WAP).
  6. 6. Negotiation training will be of great assistance to help you work out what areas of another company’s offerings may be subject to flexibility (open to negotiation), and which are fixed (absolute limit).
  7. 7. An expert negotiator ensures that all parties leave the room feeling happy with the outcome. In sport, there is only win-lose. The Expert negotiator aims to secure a Win-Win. PD Training, 2013

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