Think! Inc. | 5600blue Partner, Carrie Welles, talks with Rosemary Coates in this audio file on the Women and Manufacturing (WAM) website.
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The current health and business environment is very likely to increase virtual negotiation. Are you ready? We'd like to share some pointers on how to proceed in the new world.
To start, a study of email, telephone and face-to-face negotiation (published in Harvard Business Review) notes the following:
No surprise but the best outcomes for both sides were reached face-to-face
On telephones, it was more win/loss where one party ended up with a significantly better outcome
Email negotiation had the highest level of impasse (50% vs 19% face to face)
Two huge issues related to negotiation and deal timing that commonly plague most sales organizations are waiting until the end of the quarter / quarter-end promotions; and waiting until 30-45 days out to plan for renewals. Sales professionals have actually trained buyers to ask/wait for discounted promotions! So now, what can we do to fix that?
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My friend and former colleague, Max Bazerman, negotiation professor at the Harvard Business School, once reported to me that:
“Opening offers have more impact on outcomes of a negotiation than all counter-offers combined!”Read More
Over ten years ago, after having spent more than 20 years a salesperson, VP sales and sales consultant, we secured our first contract to provide negotiation training for the procurement arm of a major US airline. I felt like the proverbial fox in the hen house!
As I was executing research to get ready for the assignment I stumbled on an article stating that this organization had just been awarded...
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There is one thing that demands attention more than all others as it drives almost all negotiation behaviors on both sides of the table. It is the single most important item in negotiation.
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