Tips for Effective Negotiation

As usual preparation is the key.

Identify all the issues, major and minor on which they may ask for

variations and on which you could make concessions.

If you don't plan for the preparation you'll never do it, and all the work will get left to the last

minute.

For each variable component of the deal, ensure you

understand the cost to you and the value to the customer.

Decide what your objective is and your bottom line in

each of them.

The aim of negotiating the final details is for

both parties to use some give and take to arrive at a solution that both find

satisfactory – the win/win situation.

Discuss the issues one by one keeping strictly to the

limits you set in your objective.

Only start the bargaining stage once all issues have

been discussed.

Always aim for win/win – be prepared to walk away from the

deal if it is win/lose.

See the big picture, know the

people and communicate

Don’t assume(so don’t hesitate

to ask questions to clarify)

If this topic is of interest to you and you want further information then contact:

Mercuri International UK LtdSuite 1001, Cranmore Place

Cranmore DriveB90 4RZ

andrew-mullins@mercuri.co.uk Tel: 0330 9000 800 (option 1)