Negotiating skills master ben

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This document provides guidance on how to negotiate successfully to increase profits. It emphasizes the importance of preparation, including scenario planning for what could happen, and understanding the negotiation zones for both the buyer and seller. Specific tips include focusing on exchanging value rather than just money, understanding the other party's needs and pains, and looking for opportunities to increase sales or lower costs such as getting referrals, discounts for equity, or multi-year contracts. Worksheets are provided to help calculate the impacts of various negotiations on profits. The overall message is that negotiation should be a thoughtful, prepared process aimed at mutually beneficial outcomes rather than just haggling over price.

Business Technology

Sitting alongside senior
business leaders to help keep
them on the business flight
plan

Negotiating skills
How to Negotiate and keep
your profits

Me? Negotiate?
• I cant negotiate
• I do not have the confidence
• I do not have the skills
• They know more than I do
• How can I tell if they are lying

The negotiation is the end of the
journey, not the beginning

3 P’s of negotiations
• Profit
• Purpose
• Preparation
An exchange of VALUE
Not an exchange of money

How are profits made?
Sales income
-
Costs
=
Profit

How to increase profit?
Increased sales income
-
Lower costs
=
Increased profit

Example
Sales income = £10,000
Costs = £8,000
Profit = £2,000

Example
Sales income = £10,000 + 10% = £11,000
Costs = £8,000 = £8,000
Profit = £2,000 = £3,000
% = 20% = 27%

Example
Sales income = £10,000 = £10,000
Costs = £8,000 -10% = £7,200
Profit = £2,000 = £2,800
% = 20% = 28%

Example
Sales income = £10,000 +10% = £11,000
Costs = £8,000 -10% = £7,200
Profit = £2,000 = £3,800
% = 20% = 35%

Example
Sales income = £10,000 -10% = £9,000
Costs = £8,000 + 10% = £8,800
Profit = £2,000 = £200
% = 20% = Zip!

Purpose
• What do you want to achieve?
• Get the business!
• Long term or short term deal
• Trophy client or introductory offer
• Training upsale
• Multi year support contract
• Referral client
• Value exchange – what can they give you
• Equity for discount

Preparation
Do the thinking in advance
The heavy lifting
Scenario plan to assess what
could happen

Seller - Entry point
The Highest point at which
they will enter the
negotiation

Seller - Exit point
The Lowest point at which
they will exit the
negotiation

Buyer - Entry point
The Lowest point at which
they will enter the
negotiation

Buyer - Exit point
The Highest point at
which they will exit the
negotiation

Trading – swopping value
• Not haggling – commoditising on price
• What do you have that clients value?
• What do clients have that you value?
If you can do this for me,
then I will do this for you.
Need to understand the client’s pain

Thank you!
Robert Hook
07956 532963
robh@businesscopilot.co.uk

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