Bargaining with the Devil

Negotiations are a two-way street. We have literally lived through these situations, isn’t it? I must share I recently read Bargaining with the Devil and enjoyed every bit. I was amazed at the manner in which Robert Mnookin has correlated instances with excellent case studies. Managing multiple business lines since more than 22+ odd years… I have learnt quite a lot about the sales pattern, psyche of customers, closings… and I must admit, so much that I would share in this article, the more I would love to write a book out of it! One thing that has been my business principle forever is “I don’t do Sales ever in my life, I have always addressed people with Solutions.“

Negotiating as the rule book says consists of five different stages i.e. Preparation, Discussion, Proposition, Bargaining and Agreement. What a majority tries to earn is a WIN-WIN! So the BIG looming question still is: Should you negotiate? What are the clients’ interests and key issues that I’m trying to address, viable alternatives, budgets, P&Ls, will potential agreements work better??? And the best… If a deal is reached, what are the odds it will actually be enforced?

Let’s try to understand it with the principle of ABC. 

Accept and Proffer

Negotiations are about THEM. You’ll be surprised sometimes it’s not about price at all but terms and conditions. Shift from being Reactive to Proactive. Concentrate energy on problem-solving because every situation is different (even if it’s the same person).

Believe in YOU

I have been let down in many sales meetings, I admit! But the “No” has always been a brighter beginning. From handling adamant budgeting of clients and trying to squeeze out a small margin, building relationships has never been easy. Negotiating is scary and asking for more comes with risk. Pick your battles then.

But if you have any kind of offer or are in a discussion, the other side isn’t going to walk away. Give Reason: One reason might be: Someone else is offering more, second:  give me more and I’ll bring something else to the table and third might be – helping me is really helping the organization.

“No” is Just the Beginning

Calculative Communication

Communicating honestly while in a negotiation has always been a challenge for many. Being crisp and precise and refrain from beating around the bush. Communication in negotiation focuses on: Functional issues which are substantive in nature, Offers and counteroffers; proposals, demands, interests. Interpersonal skills amount hugely while in this situation which is again a mixture of Intangible issues like (e.g., face, respect). Attitude, knowledge and interpersonal skills strongly influence the ultimate outcome of any negotiation.

“Negotiate to create VALUES in Deals and Disputes”

What are your ABCs…? Share your Alphabet sets :)