How Good Are Your Negotiators at Making Tradeoffs?

Imagine a mid-level manger in the global commodities group got an email from the operations manager from a plant that read something like this: “Bob, I called ABC supplier to see where our XYZ parts are, and they told me that we’ll get them in 3 weeks. They said the PO gave them a 15 […]

Beyond the traditional ZOPA: how to create value in complex deals

You’ve all been told that to create value in your negotiations and get the “best” deal for your organization you need to expand the pie, not just haggle over the limited and fixed number of pie pieces. But no one has really demonstrated pie expansion – value – for commercial contracts – until now. In […]

The 1 Minute Negotiation Technique

Okay, I’m coming out. I meditate. I have for years. Besides all the health benefits, I believe that meditation has helped me further develop my ability to really focus. Anyone who has ever talked to me knows that I encourage everyone to take time to really plan for all of their negotiation conversations. You really […]

Before You Make the First Offer

There is a lot of power in making an opening offer. In fact, the opening offer anchors the entire price conversation. Do you want to set the anchor, or allow the other party to set the anchor? You should make a conscience choice. By setting the anchor, you are determining the scope and range of […]

Redefine Your Role Away From Gatekeeper

80% of Business to Business purchases involve some sort of contract. This fact startled me, even though I am an attorney. More telling, those contracts have become increasingly sophisticated. Contracts typically contain rebate language, chargeback mechanisms, and sophisticated legal concepts such as intellectual property (IP) protection.  It is also common for contracts to encompass thousands […]

My Negotiation Pet Peeves

Open display of animosity between negotiators   Lack of understanding of what the other side needs Incomplete and/or wrong data Poor follow up on questions, solutions or methods Business as usual responses to questions Hide serious problems that you know will surface in the relationship No ability to fine tune (modify) agreements on a as […]

Getting What You Want At The Bargaining Table: Three tips on Setting Goals

When is the last time that you sat down to think about your goals for an upcoming negotiation? If you are like many others, you have not considered this question beyond thinking about price. There is much more to setting negotiation goals than hitting a certain price point. By setting a goal, you are setting […]

Contract Negotiators Need an Enhanced Skill Set

Keld Jensen, one of the leading authors on negotiating partnerships said this: “Poor negotiations skills are probably the biggest single cause of major costs and lost opportunities to any organization. And what is more –most companies do not even see it!” The problem, in my opinion, lies in old-school thinking that there is one right […]

Getting to We: Negotiating Agreements

It’s time for a new approach and mindset for contract negotiations—time to leave the me-first, I-win-you-lose strategy and replace it with a highly collaborative approach when structuring partnerships. What if the agreement you negotiated was more than just a short-term, legalese-burdened piece of paper specifying a bunch of transactions, terms and conditions, self-interested risk avoidance […]

Are You Negotiating Value?

Traditionally, buying companies seek to limit their risk exposure by diversifying their vendor pool. But if all vendors in an industry face the same challenge to keep costs in check, for example rising wages, it is time to do something differently. The answers lay in the method the buying and selling company use to negotiate […]