A couple weeks ago I was able to attend an EO Accelerator event in Portland that featured Mitch Priestly as a guest speaker. His topic was negotiation and his take was refreshing. I rarely take notes because I find that they distract me and if I just listen instead I remember more. On this occasion though, there was so much good stuff I had to scrawl out some things for later. Mitch says that the number one thing to remember in negotiations is to maintain the mindset that you ‘have an obligation to find out what the best deal available is.”
It is so simple, but so true. Too often we are afraid to ask, another key to negotiation he says, a willingness to just ask. According to him, if you don’t hear no three times then you need to keep pushing. In order to help himself stay committed to negotiations, he has developed an 8 step plan that he shared with us.
T: Time, who has time on their side in the negotiation? Establish this and try and find a way to get time on your side.
A: Ask, be willing to ask for a better deal without worrying about being insulting, you owe it to yourself to try, getting an answer of no is free.
C: Concessions, plan these ahead, go in knowing what you are willing to give up and offer them on schedule.
T: Tactical Plan, ask for concessions, plan the flow of the conversation so you remain in control.
I: Insight, get information, it is power and knowing certain details about the other party or the market can lead to an upper hand.
C: Close, gain agreement.
S: Seal the Deal, get it in writing or other type of hard commitment to the deal struck.
With the 8 step “TACTICS” process you have something that you can commit to in any negotiation. The process makes it easier to swallow difficult negotiation situations and push the other party for the best deal. Why not try right? It is free to ask. Mitch also added that during this process, whoever makes the most sense wins the negotiation so try to keep reason on your side.
Since listening to Mitch talk at the Accelerator day, I put the new negotiation tactics to work and my roommates are really appreciating the price on our internet and cable package. Find the best deal available!
Many thanks to Mitch, check out his page by clicking his name and also thanks to EO Accelerator for a wonderful event.