Negotiation is a crucial business skill and is at the heart of commercial success. Whether it's allocating resources for a project, funding a new initiative or establishing a supply chain for a new product or service, negotiation is inevitably at the heart of the process. We believe that excellent negotiation behaviours drive incremental profit for businesses. No other skill has quite the same impact.
Negotiating is a part of everyday life, but in business it's absolutely critical to your success. Poor negotiation can cripple a company just as quickly as losing key customers. While most negotiating strategies seem like common sense, it's not uncommon for people to get caught up in the emotion of the moment and ignore their basic instincts. Emotion, luck and magic have no place in a successful negotiation. It takes an iron gut, homework, street smarts and unblinking discipline. These keys will unlock your ability to get the best deal possible under any circumstances.
Most people negotiate using a zero sum process. They determine what they want, raise that 10 or 20 percent, and then engage is a series of compromises to obtain their result. Their focus is on the position they take, and claiming as much of that position for themselves as possible. Their mission is not to get a satisfactory deal for both parties. It is to win. The tendency is to negotiate from the viewpoint of positions and they never really stop to ask what they want, why they want it, or even consider why the other side is negotiating.
Most negotiators have a price target or goal in mind before they start. It should be based on realistic expectations considering all the constraints that will undoubtedly surface. These may include budget limits, direction from management, pressure to make sales goals, and a myriad of other external forces. During the course of the negotiation, the goal may change based on changes in scope and other unforeseen actions by either party. While your ultimate goal should be realistic, this should not constrain your first offer or counteroffer.
Negotiations can be difficult if one party does not feel that the other party's needs are legitimate. Some individuals also refuse to negotiate out of a fear of being seen as weak. Some individuals are reluctant to negotiate with those they think are weak. Sometimes, parties might not want to get stuck in an agreement. Finally, some parties do not like to have attention brought to the fact that there is a disagreement.
When negotiations break down sometimes the only thing you agree on is the need for outside help. But where do you begin? How do you find someone who can re-open the lines of communication and ensure that you come to a mutually beneficial agreement?
Symphonia Globe helps organisations and individuals to step change negotiation capability and partner with them to significantly improve their productivity and profitability. Experience, Credibility and Expertise is what we bring to the negotiations table on your behalf to help you close the deal.
We provide negotiations services for companies and individuals in a wide range of commercial and economic issues such as,
- companies merging and acquisition agreements,
- business cooperation agreements,
- corporate and bank debt restructuring,
- access to markets with exclusivity rights,
- financial agreements with creditors,
- resolving disputes between trading partners with different cultural backgrounds,
- facilitating large supply agreements and distribution of products and services,
- making deals for senior executives payment schemes and benefit packages, etc.
Fees are agreed between the client (i.e. a company or individual) and the negotiator. They usually include expenses for transportation, accommodation, etc. (if needed), a fixed case management fee plus a success fee when the dispute is resolved or the deal is done.