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NEGOTIATION NEGOTIATION SKILLS FOR SKILLS FOR MAXIMIZING MAXIMIZING

RETURNSRETURNSLearn - Energize - Inspire

05/03/23 Learn - Energize - Inspire 2

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Rule No ZERORule No ZEROKnow the Basic InfoKnow the Basic Info

Must Know Rules

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Rule No 1Rule No 1No Free Gifts – Seek No Free Gifts – Seek

a Trade-offa Trade-off

• Make sure you highlight your compromises Make sure you highlight your compromises and make them against a compromise by the and make them against a compromise by the other partyother party

Must Know Rules

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Rule No 2 Rule No 2 Start Higher Than What Start Higher Than What

You DesireYou Desire

I.I.Write down what you want and always start higher Write down what you want and always start higher than what you desirethan what you desireII.II.The recent CNG price hike storyThe recent CNG price hike story

Must Know Rules

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Rule No 3 Rule No 3 Identify Your Envelope Identify Your Envelope

of Negotiationof Negotiation

I.I.RangesRangesI.I. OpeningOpeningII.II. TargetTargetIII.III. Bottom LineBottom Line

II.II.The car-buying experienceThe car-buying experience

Must Know Rules

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Rule No 4 Rule No 4 Know Your BATNAKnow Your BATNA

I.I.The Power to Walk AwayThe Power to Walk Away

Must Know Rules

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Rule No 5Rule No 5Never Settle Issues Never Settle Issues

Individually – Always Individually – Always Settle them as a Settle them as a

PackagePackage

Must Know Rules

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Rule No 6 Rule No 6 Conclude With a ‘Nibble’Conclude With a ‘Nibble’

•What’s a ‘Nibble’What’s a ‘Nibble’Little snack or a biteLittle snack or a bite

•Add the ‘free shipping’ or ‘two days warranty’ at the endAdd the ‘free shipping’ or ‘two days warranty’ at the end

Must Know Rules

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Rule No 7Rule No 7Keep Looking for Keep Looking for

Creative Concessions to Creative Concessions to TradeTrade

I.I.‘‘Free Complementary Session’ ConcessionFree Complementary Session’ ConcessionI.I. Think of your most common negotiation situations and think of Think of your most common negotiation situations and think of

high-value, low-cost concessions you can offerhigh-value, low-cost concessions you can offer

Must Know Rules

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Rule No 8Rule No 8Focus on Interests not Focus on Interests not

PositionsPositions

The Rules that Maximize Returns

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Rule No 9Rule No 9Always Communicate Always Communicate Benefits of Your Offer Benefits of Your Offer

not Featuresnot Features

•Difference between ‘Feature’ and ‘Benefits’Difference between ‘Feature’ and ‘Benefits’

The Rules that Maximize Returns