Six Steps For Negotiation Preparation

The most commonly overlooked aspect of negotiation is preparation. We say things like, "We're just in the negotiation stage of the deal ..." There is no more profitable expenditure of time than the time spent preparing to negotiate. Here's your checklist:

Know what you want and don't want ... Most of us have a general idea of what we want or want to avoid in a deal. Unfortunately, general objectives tend to render general results ... leading to second guessing and dissatisfaction. Instead, write a paragraph describing in detail what you want and don't want from the transaction, then, edit this description furiously until it is laser focused and precise. When we are crystal clear on our objective(s) and rationale(s) for their acquisition, we are most likely to achieve desired results. Know what your counterpart wants and doesn't want ... Now do the same for your counterpart. Write the description of what your opposite is looking for and seeking to avoid. This exercise tends to be a real stumper ... and eventually a real eye-opener. Knowing our counterpart's goals, objectives, and sought after results helps us see commonalities that lead to creative solutions.Know what concessions you are willing to give ... What must you absolutely achieve to consummate a successful bargain? What terms, conditions, extras could you live without? Every great negotiator knows there must be give and take on both sides for agreements that make sense.Know your alternatives ... Remember when you bought your first car? Mine was a 1956 T-Bird. The ,guy I bought mine from told me, "I like you and want to sell you the car ... but there's another person coming over in 30 minutes who also wants the car." Wow, did the dynamics of the negotiation shift on the spot. Having an alternative vendor or supplier really helps your level of confidence.Know your counterpart and your subject matter ... A lot of information is available to us on personality styles, body language, and neuro-linguistic programming. Remember transactions take place between people ... and people view the same facts and appeals differently. Subject matter is simple ... Know it cold-there is no excuse for being ill informed ... and lost credibility is rarely recovered.Rehearse You know how to get to Carnegie Hall! It's the same road to negotiation success - Practice - Practice -Practice! Attend swap meets and flea markets ... They are wonderful opportunities to sharpen your skills. Remember use it or lose it! Most negotiators rarely, if ever, thoroughly prepare to negotiate. But this is the magic! Try this checklist before you negotiate ... Your returns will improve dramatically.

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Six Steps For Negotiation Preparation

Six Steps For Negotiation Preparation
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As a California Criminal Trial Lawyer with 28 years of courtroom experience, JOHN PATRICK DOLAN has handled everything from traffic tickets to death penalty murder cases. Dolan is a recognized California State Bar Certified Specialist in Criminal Law and a true courtroom veteran. He is AV (highest) Martindale-Hubbell rated.

As an author, JOHN PATRICK DOLAN has written twelve, best-selling books, including his classic Negotiate like the Pros™. He is a recognized international authority on negotiation and conflict resolution. And, just to show that he does not take himself too seriously, he is also the co-author of the wildly popular Lawyer's Joke Book™.

A communications veteran, John Patrick Dolan is a radio broadcaster and television legal news analyst appearing frequently on Fox News Channel, MSNBC, and Court TV. He has also been honored by the National Speakers Association as a member of the Professional Speakers Hall of Fame.

In addition to his professional legal experience, John Patrick Dolan serves as CEO of LawTalk™ MCLE, Inc., a continuing legal education company.

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10 Guidelines For Effective Negotiation Skills

Never enter into any agreement or negotiation from a point of desperation. The moment you show how desperate you are, you disarm yourself of the bargaining power. The value of the transaction will be compromised by your appetite & apparent desire. Rather stand back, gather yourself & your thoughts & reschedule the talks. Often we place a price tag on goods based on our needs. No one desires to spend more than the real value of product or service. As african businessmen, politicians and the like we have missed the power of effective negotiation hence time, value and resources have gone to waste. Where we potentially could have reaped $millions, we have settled for a few $thousands which of course could pay a few bills and get an economy going. Question stands whether we adequately calculate and plan and prepare for negotiations, deals or agreements or we see the dotted line as the partying of the red sea, an imminent breakthrough and forget the fine print. I have watched with great interest how sudden bursts of joy at the signing of mergers between companies and political parties, even churches have turned into a series of mourning experiences as the dotted and signed document is activated. Before you can have the famous handshake to signal an agreement, consider your actions closely. Decisions you make at this point have long lasting effects on where your organization will be in the next foreseeable future. Realize that those who have entrusted you with the negotiations responsibility bank on you to make decisions in the best interest of the organization.

Here are a few negotiation guidelines

• Do some research and investigations on the other party before the meeting. Check trade references and outcomes of previous agreements the other party entered into. Use your checklist of non-negotiable to determine if you should proceed with negotiations. It may not be necessary to enter into any negotiation if the other party fails the "non-negotiable" test in advance.

10 Guidelines For Effective Negotiation Skills

• Prepare questions in advance which seek to get clarity on any clauses on documents you have previously received. Get your legal representative to look into and review contracts or agreements. Preparation entails anticipating questions and answering them before you engage. It entails presenting your best case and alternatives when called for hence it is important. There is nothing wrong in preparing for a stalemate position and how to break beyond it.

• Go into major meetings with a witness(es) or people who can help with discussion. This could be your Personal Assistant or senior Manager in your team. You may need someone who can give you hints and tips. Someone whom you can use eye contact with to determine whether you should proceed or not. Sometimes when you are alone negotiating with a panel you lose on the basis of numbers as you may have 5 active brains thinking ahead of you.

• Do not rush to make the decision - Always look at the negotiating party directly in the eye and avoid being bullied into making a decision here and now. The push must never be just to ensure the agreement is signed off without the parties taking ownership of the decisions they are making. Whenever there is a rush, it must flag within you that there could be something hidden in the agreement. Take your time. You don't have to sign instantly.

• Understand the time factor - There is always a time conducive enough for negotiations to take place. You will not negotiate effectively when you are in a hurry or when there is fatigue on either side of the negotiation table. Depending on how tense the negotiations can be, it is healthy to call for a "time out" so that you regain yourself.

• Avoid emotional bargaining - Separate your own emotions from the issue being negotiated on. When you become angry or over excited you lose your composure and negotiating power.

• Avoid attacking the person but look at the matter under negotiation - There is a tendency to address personalities at the expense of the matter under discussion or negotiation. While it is important to know the kind of person you are negotiating with, the issue on hand supersedes personalities.

• Pay attention to detail - In the event that you get documents in the meeting without prior reading, it is important to read the fine print or give a specialist within your team to scrutinize while you discuss. The fine print is usually the source of all problems in any negotiation.

• Be prepared for compromise - Before you get into a negotiation process, you should know both your best case and worst case scenarios, the benefits and demerits of each case. You should obviously start the negotiation by putting on the table your best case. As you bargain, a little bit of compromise is necessary but not to go below your worst case scenario. I have heard it said that "in a negotiation, both parties must leave feeling like they won some and lost some".

• Never make your desperation apparent to the other party - It is important to do a SWOT analysis of yourself and your team that you are going with. Once you know your strengths, you will not let someone with no deep knowledge of the current issue on the table lead the discussion. Do not expose the weaknesses you may have as the other party will ride on that making your proposal futile.

"Your ability to negotiate, communicate, influence and persuade others to do things is absolutely Indispensable to everything you accomplish in life"
Brian Tracy, American self-help author

10 Guidelines For Effective Negotiation Skills
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Rabison Shumba is a young African entrepreneur who has interests in Information and Communication Technology, Agriculture and Mining. He is also a motivational speaker, trainer and author. His book, The Greatness Manual and various online articles are tools for personal and professional development. Together with 100 other Career Experts, Rabison co-authored the 101 Great Ways to Enhance your Career. Rabison has a personal vision of impacting the lives of children in marginalized communities by creating platforms for career counsel and guidance, information empowerment and capacity building through the Greatness Factory Trust, where he currently holds the position of Chairman of the Board of Trustees and Acting Executive Director. He is actively involved in the organization of career enhancement and guidance colloquiums to propel and inspire both young and mature professionals to greatness. His areas of expertise include strategy, leadership, personal and professional development. Rabison is married to Jackie, and they have two daughters. They reside in Harare, Zimbabwe. http://www.greatnessmanual.com or http://www.lulu.com/spotlight/rshumba

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Negotiation Skills - Importance & Techniques

Negotiation is an important tool, that all of us use at different times, at different phase of our life, to achieve different goals. The first time probably we negotiated in our life, when as a child we kept shouting for mother's milk. The negotiations are typically tagged with a price, which may or not be expressed in monetary term. For example a marital negotiation has a typical price line of social status, whereas a negotiation in the job interview the price line is clearly money. There can be more than one one price line also, provided there are different areas involved in the negotiation. For example in a union-management negotiation apart form salary, there can be price lines involving working conditions and industrial relations.

To negotiate effectively one must do a proper hoe work on the self strength and weaknesses vis-a-vis the strength and weaknesses of the other side. In the negotiation table, it will all depend upon how one can keep up with the nerve. Thus, it is very important to know the bottom-line of the price where the negotiator can settle. The body language is also extremely important in negotiation.
The price may be social recognition, peer recognition and many others. A negotiation may take place either on 1 to 1 or may involve more than two parties.

It all depends on how well one has prepared about the background and strength areas of the other side. It is also important to know the dynamics of the power game.
To know more about it click here [http://www.homejob.in/stories/self_improvement/negotiation__a_tool_to_change_your_lifestyle.html].

Negotiation Skills - Importance & Techniques

Negotiation Skills - Importance & Techniques
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Sample Late Payment Explanation Letter

When you write a creditor to explain your late payments (mortgage, car, or credit card), the letter should state:

why you are late, (see paragraph 1 of the letter below) how serious you are about fulfilling your commitment to them (paragraph 2 of the letter below), and when you expect to be able to resume full and regular payments, (paragraph 3 of the letter below), what you want from them (paragraph 4 of the letter below) the financial details of your hardship (paragraph 5 of the letter below)

Below is a sample late payment explanation letter. Change it to describe your own circumstances, but make sure that you enclose copies of financial documents like: checking account statements, tax returns (past two years), all bills from creditors, all late notices, pink slip, anything else that will prove your hardship.

Sample Late Payment Explanation Letter

Cindy R. Williams

9 Turnbill Ct.

Anywhere, USA 55555

To: ABC Mortgage

Re: Late Payments; Account # 12345678

Daytime phone number: (555)555-5555

I am writing to inform you of my recent financial hardship. I was laid off from my job at XYZ Company just before Christmas of 2008. I am diligently seeking other employment, but as you know, jobs are scarce in today's economy. I have not found anything yet. Being out of work has caused me to be late on my bills.

I believe in hard work and have never been without a job for more than a few months. Until this unfortunate event, I have maintained a solid payment history with you.

My goal is to pay everything I owe. I take my financial obligations very seriously and plan to continue regular and full payments as soon as I find a job.

I expect my situation to be temporary and would like to discuss loan forbearance. I would also appreciate any suggestions you might have that would help me get back on track.

Please find the enclosed spreadsheet of my monthly expenses, as well as copies of financial documents, my pink slip from XYZ Co, and late notices I have received during my financial setback. I'm sending these to show that I am indeed experiencing financial hardship. This letter and all documents attached are true and accurate to the best of my knowledge.

Thank you for your time. I hope to hear from you soon.

Sincerely,

Signature/Date

Forbearance is an agreement by a creditor to reduce or delay payments for a specified period of time. Interest accrues during forbearance and will increase your loan amount. The good thing is that you will not have to pay late fees and penalties. There is no negative affect on your credit either.

Sample Late Payment Explanation Letter
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Learn from Lyn Collier's years of Real Estate experience.

Read simple, to-the-point articles about avoiding costly mistakes and how to get the best loan modification at http://www.e-home-mortgage-loans.com/index.html

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The Five Basic Car Sales Closing Techniques

When you sell cars for a living one of the most common terms you will hear is closing the deal. Sometimes a successful car salesman or a sales manager might be called a strong closer or a good closer which means they are skilled at closing the deal with the customer. If you are determined to make the big money you will need to sharpen your car sales closing skills. Below you will find the auto sales closing methods and techniques that most of the other techniques have evolved from or they are variations of these car closes.

Whether you are new to the car business or have been selling for years it will help you to know these car sales closing techniques like the back of your hand. The better you know them the more you will use them and the better you will become.

Car Sales Closing - Show Me the Money

The Five Basic Car Sales Closing Techniques

1. Assume They Are Buying: This is by far one of my favorite car sales closing methods. When you assume the sale is a done deal you naturally act and talk in a way that not only is conducive to completing the sale but the customer will pick up on you words and actions and follow along. When you move through the steps to the sale assuming they are going to buy a car at the end of the process the customer will either buy the car or they will object. If they object you then move on to overcoming their objections.

2. Ask Them to Buy: This may sound simple, but you would be surprised how often new sales people or less experienced car salesmen continue to talk about the vehicle without ever asking for the sale. However you must remember that you don't stop asking after once or twice. Typically when you use this car sales closing technique the first thing that comes out of your customers mouth is an objection. Great, that means you are moving forward, see objections below.

3. Create Urgency: If you are in the car business, you know how important it is to sell them NOW because we all know about "Be Backs". The car buyer has a tendency to say we are just looking or we are not in a hurry, but it is your job to get them sold NOW. Sometimes in order to accomplish your goal you need to create a sense of urgency in your customer for your car sales closing attempts to work. You want to make them believe they are going to miss out on something if they don't buy now. An example might be the end of a sale or availability of the specific car they are interested in buying. A note of caution here: a little goes a long way and when you overdo the urgency combined with closing the sale you can come off as being pushy or as a high pressure salesman.

4. Make it Easy for Them to Say Yes: Listen to what they want and then make their wants and needs part of your car sales closing statements. Use their statements to close the deal. For example: You said wanted a red car with a sunroof and a payment under 0, right! or You said you needed a car that gets 30 miles to the gallon that seats five people that has remote entry and 00 for your trade-in, right! Are you getting the idea now, you make it easy for them to buy a car when you have filled their needs and wants and use their words to make that point.

5. Go for the Gold - Objections: This is where the money is, it's in the objections of your customer. When it comes to car sales closing it always comes down to objections. It is the customer's way of saying: I am not convinced yet, I need more information or You didn't build enough value in your product, dealership and yourself. It's not that they don't want to buy the car; it means that you have some work to do before they buy the car. Overcome their objections one at a time like a checklist and then close the car sale.

The car salesman will often use several of these car sales closing methods or a combination of the many other techniques that are designed to sell a car. It all comes down to closing the sale with your customer and they must be willing to buy the car because no matter what techniques you use to sell the customer they have to make the ultimate automobile buying decision.

The Five Basic Car Sales Closing Techniques
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Karl Beckham is the author of this article on the Basic Car Sales Closing Techniques and Methods.

Find more information about Car Sales Closing Techniques visit the CarSalesProfessional.com

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