Successful negotiation Skills

1. Successful
Negotiation
Skills
Presented by
Riadh Mohammed Arif
Deputy Manager – Corporate Business Unit
BRAC EPL Stock Brokerage Ltd

2. Simply Defined,
Negotiation is a conversation leading to Agreement
Negotiation is the process of resolving conflict
between two or more parties whereby both or all
modify their demands to achieve a mutual acceptable
compromise
What is
Negotiation

3. Starting of
Negotiation
Deciding to do Negotiation
Why we avoid it?
- False excuses
- Don’t let the excuses to win
- They are probably laughing at me…
Overcoming embarrassment and pride
- Think of it as a game
- Don’t want to look cheap
- Negotiation is always worth it no matter
how patty it is!
- Practice with tactics

4. Starting of
Negotiation
Negotiation: is it okay to lie?
• You cannot know how much they know
• They will know through your body language:
cover mouth touch nose
look away voice tone
feet movement shuffle in seat
• They may well catch you out later in the
process.
• Exaggerating the costs may take away your
ability to trade or maneuver
• Remaining consistent puts undue stress on
you and distracts you from other important
parts of the process.
• If you are caught later, the long-term
relationship will never be repaired.

5. Starting of
Negotiation
Deciding to do Negotiation (Cont’d)
Instead of YES or NO
- Reluctant YES or harmful NO
- Create a WIN-WIN situation by trading
Fear of Losing
- Lost the deal? That cannot happen just
because you are negotiating
- If you walk out or they walk out
- Always be Nice to everyone
- Blame it on yourself don’t be rude
- Be prepare to “Crumble”
- Pls remember you have nothing to lose!

6. Starting of
Negotiation
Deciding to do Negotiation (Cont’d)
Being liked
- Who cares?
- Create a WIN-WIN situation by trading
When “Negotiation Light” should switch on
- If they ask some money off
- You have got a complaint

7. Planning

8. Rule no 1: Set you walk away point
Rule no 2: Never break Rule no 1
• You will make a loss if you do that
• Control you emotion by Emotional Strength
- Don’t put yourself down
- Walking you gives you power
- The other party can feel it
- If you can’t walk away, you’ve got nothing
- Remember, there will always be another one option
- Set your limit carefully

9. Internal vs External Factors
• Walkaway point –Internal ‘feeling’
• Opening offer comes from- External competitors
• Opening offer is what you MIGHT GET
• You mustn’t affect the market and not beyond your
walk away point

10. Thinking about their Weaknesses
• Make yourself feel strong
• Never negotiate over phone
• Wait until you have the power
• Always give it one more time
• True even if there is one supplier

11. Opening Offer

12. ▪ Don’t open first
▪ Ask question and listen
— Less talking more question
— Let them give away their power
▪ Setting your opening offer
— What ‘might’ you get
— Open below the best possible price
— Justify your offer
• Never start with a round number
— Sounds like you have made it up
• The flinch
— You must do a flinch
— Do they flinch?
Opening Offer

13. Tactics

14. The VICE
• You’ll have to do better than that
• What can you do to stop it?
— Trade at each stage
— How much better exactly?
The Salami
• Talking lots of little things
• What mine is mine what yours is still negotiable
• Counterattack
• Don’t be afraid be back out
Product knocking
Reluctant buyer or seller
Tactics

15. Trading Tactics

16. The meaning of Win/Win trading
you can’t win/win on price
but you can do it with tradable
so… be prepare with tradable
How to trade?
“if you… then I…”
Hide what’s valuable
Small Steps
Move on small steps
Trading Tactics

17. The Closing:
Don’t let your profit slip away

18. The final offer
If that’s false…
If that’s true…
Split the difference
if they do so… then they have already given up
push back
what if they say no?
The Nibble
how to avoid nibble?
don’t leave loose ends
go for a Counter-Nibble
The Quivering Pen
You can say NO
they are just as keen
Should you walk away?
what if you get stuck? -walk away of crumble-
Can you trade?
The Closing

19. Thank You!