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Breakout Session #104 Tom Reid Chief Problem Solver Certified Contracting Solutions, LLC Louisville, CO www.certifiedKsolutions.com April 15, 2008

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Advanced Negotiation Techniques Dealing with Negotiation Fears. Breakout Session #104 Tom Reid Chief Problem Solver Certified Contracting Solutions, LLC Louisville, CO www.certifiedKsolutions.com April 15, 2008 10:45 to 11:45 AM. What Are You Afraid of?. Innate Fears.

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Advanced Negotiation Techniques

Dealing with

Negotiation Fears

Breakout Session #104

Tom Reid

Chief Problem Solver

Certified Contracting Solutions, LLC

Louisville, CO

www.certifiedKsolutions.com

April 15, 2008

10:45 to 11:45 AM

innate fears
Innate Fears
  • Loud noises
  • Falling
  • Abandonment
fear of negotiating
Fear of Negotiating
  • Key skill for contract managers
  • One of the major impediments to effective negotiation is fear
primary fears in business
Primary Fears in Business
  • Fear of looking foolish
  • Fear of the unknown
  • Fear from past bad experience
fear of looking foolish
Fear of Looking Foolish
  • We all want to be a “good person”
    • Leaders
    • Parents
    • Competent business people
what is the perfect deal
What is the “Perfect Deal”?
  • Depends on the circumstance
  • Depends on your perspective
  • Depends on your goals
  • Can a good deal go bad?
reject my deal reject me
Reject my Deal – Reject Me
  • We personalize our effort
  • You are “tainted” by bad results
    • Even if you did not cause them
    • Even if you could not have avoided them
    • You feel you can’t save face
    • Your reputation as a negotiator is bad
what is success
What is Success?
  • We all want to bat 1.000
  • In business, often anything over 50% is pretty good
  • Success is amorphous
  • You can’t know what “might have been”
  • Position yourself to:
    • Capitalize on positive risk
    • Minimize negative risk
mistakes
Mistakes
  • Part of being human
  • If not making any – probably not doing anything
  • Accept your mistakes; you can’t change history
  • Learn from them
  • You don’t fail until you stop trying
fear of the unknown
Fear of the Unknown
  • You can’t know everything
  • There is more you don’t know than you do know
  • Seek training in negotiation skills
  • Have substantive knowledge of the situation
understand the process
Understand the Process
  • Does the first person who speaks always lose?
  • Is good cop/bad cop a legitimate technique?
  • When is it appropriate to slam your fist on the desk and walk out?
understand the subject matter
Understand the Subject Matter
  • Do you know what you are buying?
  • Have you gone out and “kicked the tires”?
  • Do you know your company’s strategic plan?
  • Do you know whether cost, schedule, or technical excellence is the key driver for your company?
understand the relationship
Understand the Relationship
  • What do you know about the other party?
  • Would you want to have a beer with them?
  • What motivates them?
  • Why are they doing business with you?
fear of change
Fear of Change
  • One of the greatest learned fears
  • Every day is a new adventure
  • The only constant in life is change
  • Deal with it!
what did you know and when did you know it
What Did You Know And When Did You Know It?
  • Known knowns
  • Known unknowns
  • Unknown unknowns
fear from experience
Fear from Experience
  • Experience is an excellent teacher
  • “Tried it once and failed, so I’ll never do THAT again!”
  • Experience allows us to rationalize
  • Can you explain WHY it was a bad experience and learn from it?
so what to do
So – What to do?
  • Prepare
  • Study and practice
  • Understand power
  • Understand fear
prepare
Prepare
  • Understand the subject matter
  • Know your company’s objectives
  • Prepare your BATNA, then improve it
  • Be rested and nourished
  • Have a negotiation plan/agenda
  • THINK!!
study and practice
Study and Practice
  • Ever fly with a pilot who had NOT been through the simulator?
  • All skill development takes study and practice
  • What was the last book on negotiation that you read?
  • Do you do mock negotiations, murder boards, or lessons learned for your negotiations?
understand power
Understand Power
  • Power is like money – neither good or bad
  • Power exists whether you recognize it or use it
  • Often it is more perception than reality
  • Preparation exhibits power
understand fear
Understand Fear
  • Negotiations are not usually fight or flight situations
  • Most fear is self generated
    • Called WORRY
    • Treat fear signals as opportunities for positive change
  • Developing relationships reduces fear
what does zig say
What Does Zig Say?
  • F.E.A.R = False Evidence Appearing Real
  • Fear motivates
  • Harmful fears versus helpful fears – know the difference
  • Fear can be your friend
conclusion
Conclusion
  • Success requires responsibility
  • Don’t fear negotiations
    • Prepare
    • Understand
    • Study
    • Build relationships
  • Position yourself to pass it on
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“The first responsibility of a leader is to define reality. The last is to say thank you.”

Max De Pree

Author & Business Executive

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