Objectives Objectives • Define & describe negotiation Objectives • Define & describe negotiation • Differentiate negotiation from selling Negotiation • Exchange of offers Negotiation • Exchange of offers • Collaborative Negotiation • Exchange of offers • Collaborative • No two negotiations are alike Negotiation • Exchange of offers • Collaborative • No two negotiations are alike • Critical components of business Negotiation • Exchange of offers • Collaborative • No two negotiations are alike • Critical components of business • Between friends and family Negotiation • Exchange of offers • Collaborative • No two negotiations are alike • Critical components of business • Between friends and family • Negotiations can happen anywhere Wings? Or legs? “Whenever people exchange ideas with the intention of changing relationships, whenever they confer for agreement, then they are negotiating.” - Gerard Nierenberg “Negotiation is conducted neither to widen nor to breach the relationship, but to form a new or different configuration.” - Israel Unterman Selling Selling • Determining other’s need Selling • Determining other’s need • Proceeds negotiation Selling • Determining other’s need • Proceeds negotiation • Must conclude before negotiation begins When to Negotiate • Important decisions When to Negotiate • Important decisions • Expensive items When to Negotiate • Important decisions • Expensive items • Agreements and solutions requiring refinement When to Negotiate • Important decisions • Expensive items • Agreements and solutions requiring refinement • Agreements with multiple variables When to Negotiate • Important decisions • Expensive items • Agreements and solutions requiring refinement • Agreements with multiple variables • Minimum dollar or expense limitation When to Negotiate • Important decisions • Expensive items • Agreements and solutions requiring refinement • Agreements with multiple variables • Minimum dollar or expense limitation • Pick battles wisely