Dialing for Dollars

409 views

Published on

Published in: Business, Education
  • Be the first to comment

  • Be the first to like this

Dialing for Dollars

  1. 1. NEGOTIATION SKILLS FOR USE ON THE TELEPHONE aka DIALING FOR DOLLARS
  2. 2. Author/Lecturer <ul><li>DAVID L. OSBURN </li></ul><ul><li>David L. Osburn, MBA is the founder and managing member of David L. Osburn & Associates, LLC that specializes in providing seminars on topics such as finance, accounting, economics, marketing, banking, business law, and management. </li></ul><ul><li>Osburn also functions as the CFO of a multi-state construction company and is an adjunct faculty member of both an accredited MBA program and the accounting department of a community college with over 24 years of teaching experience. Additionally, he administers the American Institute of Banking (AIB) program in the Las Vegas area in conjunction with the University of Nevada Las Vegas (UNLV). </li></ul><ul><li>Osburn’s extensive professional background includes 16 years in banking (commercial lending) including the position of Vice President & Senior Banking Officer and an additional 9 years in related fields. Osburn has an MBA in Finance/Marketing from Utah State University and a BS degree in Finance from Brigham Young University. He is also a graduate of the National Commercial Lending School at the University of Oklahoma. </li></ul><ul><li>David L. Osburn & Associates, LLC </li></ul><ul><li>A Business Training & Contract CFO Firm </li></ul><ul><li>David L. Osburn, MBA </li></ul><ul><li>Managing Member </li></ul><ul><li>7521 Enchanted Hills Ct. </li></ul><ul><li>Las Vegas, Nevada 89129 </li></ul><ul><li>Direct: (702) 655-1187 </li></ul><ul><li>Fax: (702) 382-2298 </li></ul><ul><li>E-Mail: [email_address] </li></ul><ul><li>Web: dlosburn.com </li></ul>
  3. 3. <ul><li>NEGOTIATION SKILLS FOR USE ON THE TELEPHONE aka </li></ul><ul><li>DIALING FOR DOLLARS </li></ul><ul><li>I. WHAT IS NEGOTIATION? </li></ul><ul><li>II. HOW WOULD YOU DEFINE NEGOTIATION? </li></ul><ul><li>III. NEGOTIATION IS A COMMUNICATIVE INTERACTION </li></ul><ul><li>BETWEEN TWO HUMANS. </li></ul><ul><li> SENDER---- COMMUNICATION CHANNEL---- RECEIVER </li></ul><ul><ul><li>(ENCODES) (DECODES) </li></ul></ul>
  4. 4. IV. NEGOTIATION INCLUDES VERBAL AND NON- VERBAL COMMUNICATIONS <ul><ul><ul><li>A.ORAL </li></ul></ul></ul><ul><ul><ul><li>B.WRITTEN </li></ul></ul></ul><ul><ul><ul><li>C.NON-VERBAL (USE OF BODY LANGUAGE) </li></ul></ul></ul><ul><ul><ul><li>D.ELECTRONIC </li></ul></ul></ul><ul><ul><ul><li>THE USE OF NEGOTIATIONS IN EVERYDAY LIFE- </li></ul></ul></ul><ul><ul><ul><li>NON- BUSINESS AND BUSINESS </li></ul></ul></ul>
  5. 5. V. NEGOTIATION SCENARIOS <ul><li>NON-BUSINESS LIFE </li></ul><ul><ul><ul><li>EX. TODDLER </li></ul></ul></ul><ul><ul><ul><li>EX. TEENAGER </li></ul></ul></ul><ul><ul><ul><li>EX. OLDER ADULT </li></ul></ul></ul><ul><li>YOU ARE AT TARGET AND YOUR THREE YEAR OLD SEES A DOLL AND WANTS IT NOW! (SHE HAS ALREADY STARTED TO SCREAM) </li></ul><ul><li> WHAT DO YOU DO? </li></ul><ul><li>YOUR TEENAGE DAUGHTER WANTS TO GO OUT WITH HER FRIENDS AND ATTEND A FUNCTION THAT WILL LAST UNTIL 1AM? (SHE IS 14 YEARS OLD). </li></ul><ul><li> WHAT DO YOU DO? </li></ul><ul><li>YOUR GREAT-UNCLE NEEDS TO RELOCATE TO AN </li></ul><ul><li>ASSISTED LIVING SITUATION BUT REFUSES? </li></ul><ul><li> WHAT DO YOU DO? </li></ul>
  6. 6. NEGOTIATION SCENARIOS- CONTINUED <ul><li> BUSINESS LIFE </li></ul><ul><li> EX. SALES </li></ul><ul><li> EX. RENEWING ESTABLISHED CONTRACT </li></ul><ul><li> EX. BUDGET NEGOTIATION </li></ul><ul><li>YOUR LARGEST COMMISSION FOR THE YEAR IS BASED UPON YOUR ABILITY TO CLOSE THE NEXT SALE. (YOUR CLIENT IS KNOWN FOR HIS “UNDERHANDED” NEGOTIATION TACTICS). </li></ul><ul><li> WHAT DO YOU DO? </li></ul><ul><li>YOUR MAIN CLIENT IS PROPOSING TO RENEW THE CONTRACT PRICE AT A LEVEL THAT WILL CAUSE YOUR DEPARTMENT TO LOSE MONEY. </li></ul><ul><li> WHAT DO YOU DO? </li></ul><ul><li>YOUR DIVISION MANAGER WANTS YOU TO SHAVE 20% OFF YOUR UPCOMING ANNUAL BUDGET. </li></ul><ul><li> WHAT DO YOU DO? </li></ul>
  7. 7. VI. THE USE OF THE TELEPHONE AS A NEGOTIATION TOOL <ul><li>NON- BUSINESS AND BUSINESS </li></ul><ul><li>TELEPHONE SCENARIOS </li></ul><ul><li>NON-BUSINESS: </li></ul><ul><li>A.YOU ARE ON THE PHONE WITH YOUR TEENAGER AND HE REQUESTS TO STAY FOR ANOTHER HOUR AT THE MALL. </li></ul><ul><li>WHAT DO YOU DO? </li></ul><ul><li>B.YOUR BROTHER-IN-LAW IS ON THE PHONE AND IS ASKING TO MOVE IN WITH YOU FOR A COUPLE OF MONTHS UNTIL HE CAN GET ESTABLISHED. </li></ul><ul><li>WHAT DO YOU DO? </li></ul><ul><li>BUSINESS LIFE: </li></ul><ul><li>A.YOUR MAIN CUSTOMER IS ON THE PHONE AND WANTS YOU TO WAIVE $50,000 IN LATE FEES, CHARGES, ETC. </li></ul><ul><li>WHAT DO YOU DO? </li></ul><ul><li>B.YOUR WORST CUSTOMER IS ON THE PHONE AND WANTS YOU TO GIVE THEM AN ADDITIONAL 30 DAYS ON A 75 DAY AGED INVOICE. </li></ul><ul><li>WHAT DO YOU DO? </li></ul>
  8. 8. VII.THE TELEPHONE AS A MEANS OF COLLECTING DOLLARS <ul><li>A. FAIR DEBT COLLECTION PRACTICES ACT (HOW HARD CAN </li></ul><ul><li>YOU PUSH?) </li></ul><ul><li>B. THE USE OF SILENCE & OTHER TELEPHONE TECHNIQUES </li></ul><ul><li>INCLUDING “STANDING UP” </li></ul><ul><li>C. MEETING YOUR CLIENT HALF-WAY, PART OF THE </li></ul><ul><li> WAY, ALL THE WAY? </li></ul><ul><li>D. MAKE THE END RESULT A “WIN-WIN” SITUATION: </li></ul><ul><li> THE COVEY CONCEPT </li></ul>
  9. 9. VIII. THE NEGOTIATION PROCESS <ul><li>THE AIDAS MODEL </li></ul><ul><li>A. AWARENESS- CREATE A STARTING OR FOCAL POINT. </li></ul><ul><li>B. INTEREST- CREATE A DESIRE FOR YOUR POSITION. </li></ul><ul><li>C. DESIRE- CREATE A NEED FOR YOUR POSITION (BASIC </li></ul><ul><li> MARKETING- FIND A COMMON NEED AND THEN </li></ul><ul><li> FULFILL IT!) </li></ul><ul><li>D. ACTION- CREATE A RESPONSE </li></ul><ul><li>E. SATISFACTION- CREATE A POSITIVE OUTCOME </li></ul><ul><li> EMPATHY </li></ul><ul><li>WHAT IS EMPATHY? (WALKING IN SOMEONE ELSE’S MOCCASINS) </li></ul><ul><li>HOW DO YOU USE EMPATHY IN THE NEGOTIATION PROCESS? </li></ul><ul><li>DON’T MAKE THE OPPOSING SIDE FEEL SORRY FOR YOU, BUT ALLOW THEM TO SEE (FEEL) YOUR POSITION! </li></ul>
  10. 10. IX. EGO <ul><li>A. WHAT IS EGO? </li></ul><ul><li>B. HOW DO YOU USE EGO IN THE NEGOTIATION PROCESS? </li></ul><ul><li>C. CAN YOU OVERUSE EGO IN THE NEGOTIATION PROCESS? </li></ul><ul><li>D. REMEMBER MASLOW’S HIERARCHY OF NEEDS </li></ul>
  11. 11. X. MEDIATION AS PART OF THE NEGOTIATION PROCESS <ul><li>A. WHAT IS MEDIATION? </li></ul><ul><li>B. THE EVOLUTION OF CONFLICT RESOLUTION: LAWSUIT--- </li></ul><ul><li>ARBITRATION--- MEDIATION </li></ul>
  12. 12. XI. NEGOTIATION SKILLS- SOME FINAL THOUGHTS <ul><li>A. LACK OF NEGOTIATION SKILLS AS TAUGHT IN BUSINESS </li></ul><ul><li>SCHOOL (INCLUDING PRACTICAL TELEPHONE NEGOTIATION </li></ul><ul><li>SKILL TRAINING). </li></ul><ul><li>B. WE HAVE THE POWER TO NEGOTIATE AND MAKE “CORRECT” </li></ul><ul><li>DECISIONS (EVEN WHEN WE ARE ON THE PHONE)! </li></ul>

×