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You're an executive with a big negotiation coming up. How can you make sure you come out on top?

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Negotiation is a crucial skill for any executive who wants to achieve their goals, influence others, and create value for their organization. But how can you prepare for a big negotiation and ensure that you come out on top? Here are some tips to help you succeed in any negotiation scenario.

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Hugo Trejo

Project Manager | Expert in Agile & Waterfall Methodologies | 10+ Years in Network Infrastructure & Risk Management
Almir Rogerio Souza

LinkedIn Top Voice | Gestor Comercial | Gerente de Vendas | Coordenador de Vendas | Consultor Empresarial |…
Ajay Augustine

Award Winning Sales & Growth Strategy Leader

1 Know your BATNA

Before you enter a negotiation, you need to know your best alternative to a negotiated agreement (BATNA). This is the most favorable option you have if the negotiation fails or no deal is reached. Knowing your BATNA helps you set your reservation price, which is the lowest or highest point you are willing to accept. It also gives you confidence and leverage to walk away from a bad deal or push for a better one.

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Hugo Trejo

Project Manager | Expert in Agile & Waterfall Methodologies | 10+ Years in Network Infrastructure & Risk Management
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Focus on Value: Instead of just focusing on price or specific terms, look for ways to create value for both parties. This can lead to more sustainable and mutually beneficial agreements. Remember that if you can come up with better solutions (value) you will be seen as a leader

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Almir Rogerio Souza

LinkedIn Top Voice | Gestor Comercial | Gerente de Vendas | Coordenador de Vendas | Consultor Empresarial | Especialista em Negocia??o | Novos Negócios
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Antes de entrar na negocia??o, é essencial entender quais s?o suas melhores alternativas caso o acordo n?o seja alcan?ado. Isso proporciona seguran?a e orienta??o durante o processo.

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2 Research the other party

You also need to understand the other party's interests, needs, preferences, and constraints. This will help you identify potential areas of agreement, trade-offs, and value creation. You can use various sources of information, such as public records, social media, industry reports, and mutual contacts, to gather insights about the other party. You can also ask open-ended questions during the negotiation to learn more about their motivations, goals, and concerns.

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Almir Rogerio Souza

LinkedIn Top Voice | Gestor Comercial | Gerente de Vendas | Coordenador de Vendas | Consultor Empresarial | Especialista em Negocia??o | Novos Negócios
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Realizar uma pesquisa detalhada sobre a contraparte é crucial para compreender seus interesses, objetivos, pontos fortes e fracos. Isso permite identificar áreas de convergência e oportunidades de cria??o de valor mútuo.

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3 Plan your strategy

Once you have a clear idea of your own and the other party's BATNA, reservation price, and interests, you can plan your negotiation strategy. You need to decide how you will approach the negotiation, what your opening offer will be, how you will respond to counteroffers, and what tactics you will use to persuade, influence, or compromise. You should also anticipate potential challenges, objections, or conflicts, and prepare your responses and solutions.

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Almir Rogerio Souza

LinkedIn Top Voice | Gestor Comercial | Gerente de Vendas | Coordenador de Vendas | Consultor Empresarial | Especialista em Negocia??o | Novos Negócios
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Elaborar uma estratégia de negocia??o clara e abrangente é fundamental. Isso inclui definir objetivos claros, identificar possíveis concess?es e antecipar cenários alternativos para adaptar-se às mudan?as durante a negocia??o.

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4 Build rapport and trust

Negotiation is not only about numbers and facts, but also about emotions and relationships. You need to build rapport and trust with the other party to facilitate communication, cooperation, and mutual understanding. You can do this by using positive body language, active listening, empathy, and humor. You should also avoid making assumptions, judgments, or accusations, and instead focus on finding common ground and shared interests.

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5 Be flexible and creative

Negotiation is a dynamic and interactive process that requires flexibility and creativity. You need to be able to adapt to changing circumstances, new information, and unexpected outcomes. You should also be willing to explore different options, alternatives, and scenarios, and look for ways to expand the pie and create win-win solutions. You should not be too attached to your initial position or offer, and instead be open to concessions, trade-offs, and adjustments.

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6 Follow up and implement

The negotiation does not end when you reach an agreement. You need to follow up and implement the deal in a timely and professional manner. You should confirm the terms and conditions of the agreement in writing, and clarify any ambiguities or misunderstandings. You should also monitor the performance and satisfaction of both parties, and address any issues or problems that may arise. You should also maintain the relationship and trust that you have built during the negotiation, and look for opportunities for future collaboration.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Ajay Augustine

Award Winning Sales & Growth Strategy Leader
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Sometimes, coming out on Top in a negotiation doesn't need to involve an overwhelming victory, silencing the opposite party. 'Coming out on Top' could also involve getting a better understanding of your own position and a fresh perspective on what course of action/direction could best benefit your strategy on the long term. Succeeding in a big negotiation as an executive, would require thorough preparation, understanding both parties' objectives, and developing a clear strategy. Keep a confident yet respectful demeanor, actively listen to the other party, and seek mutually beneficial solutions. Use effective communication and persuasion techniques, BUT, be prepared to walk away if necessary. Its the journey, not the destination!

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You're an executive with a big negotiation coming up. How can you make sure you come out on top?

1

2

3

4

5

6

7

1 Know your BATNA

2 Research the other party

3 Plan your strategy

4 Build rapport and trust

5 Be flexible and creative

6 Follow up and implement

7 Here’s what else to consider

Negotiation

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You're an executive with a big negotiation coming up. How can you make sure you come out on top?

1

2

3

4

5

6

7

1 Know your BATNA

2 Research the other party

3 Plan your strategy

4 Build rapport and trust

5 Be flexible and creative

6 Follow up and implement

7 Here’s what else to consider

Negotiation

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