06/06/09 NEGOTIATION SKILLS FOR MAXIMIZING RETURNS Learn - Energize - Inspire

06/06/09 Learn - Energize - Inspire

Rule No ZERO Know the Basic Info Must Know Rules

Rule No 1 No Free Gifts – Seek a Trade-off Make sure you highlight your compromises and make them against a compromise by the other party Must Know Rules

Rule No 1

No Free Gifts – Seek a Trade-off

Make sure you highlight your compromises and make them against a compromise by the other party

Rule No 2 Start Higher Than What You Desire Write down what you want and always start higher than what you desire The recent CNG price hike story Must Know Rules

Rule No 2

Start Higher Than What You Desire

Write down what you want and always start higher than what you desire

The recent CNG price hike story

Rule No 3 Identify Your Envelope of Negotiation Ranges Opening Target Bottom Line The car-buying experience Must Know Rules

Rule No 3

Identify Your Envelope of Negotiation

Ranges

Opening

Target

Bottom Line

The car-buying experience

Rule No 4 Know Your BATNA The Power to Walk Away Must Know Rules

Rule No 4

Know Your BATNA

The Power to Walk Away

Rule No 5 Never Settle Issues Individually – Always Settle them as a Package Must Know Rules

Rule No 6 Conclude With a ‘Nibble’ What’s a ‘Nibble’ Little snack or a bite Add the ‘free shipping’ or ‘two days warranty’ at the end Must Know Rules

Rule No 6

Conclude With a ‘Nibble’

What’s a ‘Nibble’

Little snack or a bite

Add the ‘free shipping’ or ‘two days warranty’ at the end

Rule No 7 Keep Looking for Creative Concessions to Trade ‘ Free Complementary Session’ Concession Think of your most common negotiation situations and think of high-value, low-cost concessions you can offer Must Know Rules

Rule No 7

Keep Looking for Creative Concessions to Trade

‘ Free Complementary Session’ Concession

Think of your most common negotiation situations and think of high-value, low-cost concessions you can offer

Rule No 8 Focus on Interests not Positions The Rules that Maximize Returns

Rule No 9 Always Communicate Benefits of Your Offer not Features Difference between ‘Feature’ and ‘Benefits’ The Rules that Maximize Returns

Rule No 9

Always Communicate Benefits of Your Offer not Features

Difference between ‘Feature’ and ‘Benefits’