Here is an excellent post by Richard Brattle that inspires the above question.
In an earlier article, I wrote that in the future, the best negotiators will be the best collaborators.”
- What do you think of his points 1 through 5?*
- Is a successful negotiation possible without collaboration in a complex acquisition?
- Do low-dollar, high-volume transactions, e.g., MRO and ORM Indirect spend, require as much collaboration as high-dollar, low-volume Direct spend?
What are your thoughts?
Five Points
* It is not always going to be possible to include the ultimate decision-maker in your negotiations, but here are a few useful steps you can take.
1️⃣ Start by asking upfront about your negotiation partner’s role and decision-making authority. Make sure you are dealing with the right individuals.
2️⃣ Keep your documents on lockdown with track changes.
3️⃣ Maintain a clean, working version of your agreements.
4️⃣ After your sessions, send out a recap that spells out what’s been agreed upon and what’s pending resolution, including owners and due dates for actions.
5️⃣ And remember, your negotiation partner is a human too. Sometimes, they might need a little support to make things happen internally.
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Posted on September 19, 2023
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