Advanced Negotiation Skills for Financial Services Professionals

Prepare to Negotiate

• This advanced negotiation skills masterclass starts by assessing why we negotiate
• Where races are won – and lost
• What does Win/Win mean?
• Planning negotiation outcomes
• What will they be planning?
• Hard and soft outcomes
• Seeking the easier routes
• Preparation for specific scenarios

Exercise: Pairs exercise – looking for the mutual benefit 

Interests and Positions

• Describing their positions
• Connecting with interests
• Describing our positions and interests
• Looking for strengths and weaknesses
• Outlining walk-away status
• Describe your best alternative to a negotiated agreement (BATNA)
• Consider how to use your BATNA
• Wrapping up this section, the balance of power is considered, ahead of the next exercise

Advanced Negotiation Skills Training Exercise: Practice preparation in pairs – your next negotiation 

Becoming Advanced Skilful Negotiators

• Who do you like negotiating with?
• Creating the right first impression
• Building rapport and connection
• This advanced negotiation skills training course covers the power of questions
• Questioning personal negotiation styles and types
• Listening to skilful negotiators
• Flexing and re-positioning
• Re-framing for your outcome
• Why should they?

Exercise: Questioning skills for positions & interests 

Negotiating with IMPACT

• Structured negotiating with clients
• Applying skills to situations
• Questioning with confidence
• Understanding their positions
• Looking for alternatives
• Asking for what you want
• Seeking solutions using benefits
• Identifying “sticky” points
• Advanced negotiation skills training moves you directly towards the best solution

Exercise: Negotiation practice in small teams, with feedback 

Techniques for 'Tough Going'

• The most powerful words
• When to stay and when to go
• The 'Columbo'
• Testing their desired outcome
• Face to face/phone/email/other?
• Persuasion: better than telling
• What does “no” mean?
• Deadlines and concessions

Example: Application of Advanced Negotiation techniques to a range of situations 

Improving Negotiation Skills with Practice

• Interactive exercise/scenario
• Implementation of learning
• Developing through feedback
• Learning through watching and doing
• Identification of individual learning points
• Concludes with the win/win model of negotiation in practice

Advanced Negotiation Skills Course Exercise: The Deal – team/pairs exercise with feedback 

Handling Objectives and Objections

• Practical application of tools and techniques
• The power of the 3-minute presentation
• Opportunity for preparation and practice
• Individual feedback
• Audience participation
• Building confidence in you and your audience concludes advanced negotiation skills training for finance professionals

Course Conclusion

At Redcliffe Training, our Advanced Negotiation Skills Masterclass is delivered by a leader who works with all management levels, helping them develop new skills to improve organisational sustainability.

He specialises in helping organisations achieve their goals by developing their people & increasing sales. Recent projects include Finance for Sales with Tata Steel, Finance and Commercial Negotiation Skills for ESPO, and a ‘mini MBA’ programme for Oman Broadband. The latter included leadership and communications skills programmes for financial services, manufacturers and healthcare professionals.

Our advanced negotiation skills course expert specifically designs training for companies to help managers & leaders understand how their decisions affect overall performance. He has delivered advanced training in 25 countries across Europe and the Middle East, with clients in at least 150 organisations. These include 8 insurance companies, 7 banks, 5 energy services companies, plus hotels, automotive companies, retailers, agriculture, charities and public sector organisations.

Advanced negotiation skills training is delivered by an expert with a solid background in financial services, enabling him to work with a wide range of institutions to develop their business and communications skills. He can combine training with coaching and leadership skills while remembering that professionals in many organisations have to develop their communication skills to match their responsibilities.

Qualifications include an MBA from Cranfield University and he is a Master's Practitioner in NLP. Designing and delivering advanced negotiation skills training for finance professionals at Redcliffe, our expert also holds the Financial Planning Certificate, is Level A qualified in Psychometric Testing through the British Psychological Society and is a Fellow of the Chartered Institute of Personnel & Development. In addition, he is a Member of the Institute of Training and Occupational Learning, The Chartered Institute of Bankers, an Associate Member of the European Mentoring & Coaching Council and a Fellow of the Professional Speaking Association.

This trainer has a hugely successful background in the financial industry making him the perfect fit for delivery of Redcliffe’s advanced negotiation skills training course.

This highly interactive advanced session is suitable for professionals working in both finance and industries, where everyday negotiation with clients, colleagues and business partners, is standard.

Throughout this advanced negotiation skills course, participants will:

• Examine their own negotiation skills levels
• Consider how they prepare for negotiations
• Describe what the win-win model of negotiation means for them
• Use the win/win model to plan levels of negotiation outcomes
• Describe the best ways of dealing with clients of all types
• Describe the skills to enable mutual benefit
• Use the IMPACT model to structure negotiations
• Consider a range of techniques for handling difficult negotiations
• Know when to stay and when to walk
• Practice negotiations to develop new skills
• Receive individual feedback to enhance their performance
• Negotiate against the clock to balance time and outcome
• Demonstrate how to maintain good relationships while winning business
• Demonstrate how to negotiate improved outcomes for themselves, their clients and business partners is covered in our advanced negotiation skills masterclass

Advanced negotiation skills training is a ‘must know’ for:

• M&A professionals, but especially those negotiating with and on behalf of clients
• Business owners considering a sale
• Corporate, in-house Mergers and acquisitions (M&A) team members
• Private equity professionals managing or overseeing the execution of their firm’s deals
• Financial Services professionals who work outside of set fee structures

This is a ‘nice to know’ for:

• Financial services professionals seeking to improve the outcomes of client meetings, colleague commitments, and easier business transactions negotiated between two, or multiple parties

You negotiate every day, but the biggest often have far-reaching implications. To handle those, you need to understand what to do, what to say and where you want to be. As with many successes in life, it is the work in advance that wins the day. In this advanced negotiation skills course, you are provided with the tools and techniques for both preparation and meetings, calls or messages.

Using a structured approach to negotiating is where confidence is built and developed and where reviews prove more effective (as improvement areas are easily identified). In a skills area like negotiation, there are no limits and this is why a flexible yet practical approach will help you improve.

Much of your success will depend upon mindset: you can influence your own even if you cannot always control other people. Being prepared to be flexible can be planned and is something we’ll cover during this advanced negotiation skills training session.

Most advanced negotiators develop habits and traits which work for them, but, over time, tend to come down to a small range of behaviours and habits. In this advanced session, we help participants evaluate habits and mindset whilst identifying new, professional and flexible approaches.