Negotiation Skills Course Objectives:
This course is suitable for professionals working in both the finance and other industries where negotiation skills are essential.
- Gain an introduction to negotiation skills for professionals
- Get to grips with the “interests” and the “options” within the negotiation
- Learn about the negotiating process in relation to soft skills
- Get an understanding of negotiation outcomes which could occur
- Learn about making proposals and giving & receiving concessions
- Expand the understanding of the challenges – psychological elements
Negotiation Skills Course Content:
- The Process of Negotiation
- The “soft” parts of negotiation
- Behavioural elements
- Psychological elements
- Objectives in negotiation
- Communication Skills of the Effective Negotiator
- Assessing information
- Establishing the parameters
- What is the “win-win” outcome
Exercise: Tell us all in one minute why we should buy your product/service
- The difference between positions and interests
- Identifying and prioritising your interests
- Common mistakes when handling interests
- When is negotiation a good idea?
- The elements of an effective negotiation
Exercise:“Closure” – a deal will not close and expires soon and you have been sent to see the client by the CEO to establish why there are delays. Can you get the deal completed by expiry day?
- Generating and evaluating possible options
- Identifying your ideal outcome
- Common errors when generating options
Exercise: “The Downsize”, as a main board director, try to persuade two junior department heads to lose some of their people as part of a cost cutting exercise. Will you achieve your goal or will your colleagues get their way – no losses!
Understanding Negotiation Outcomes
- Evaluate the options
- Where do you think it will end
- Is there a “win” or would a compromise be better
- Setting clear objectives
- Being prepared to lose when it makes sense
Exercise: Call at the bank as a business owner, to share with them why you are reluctant to sign off a deal they have offered you for a major funding. The reasons may not be as straightforward as they seem. Can they put your minds at rest, or not!
The Negotiating Process – soft skills
- Making proposals and giving and receiving concessions
- Breaking Deadlock
- Agreeing a remedy
- Understanding the negotiator’s role
- Key stages of the process
- Giving information
- Reading signals
- Making a plan.
- Reviewing assumptions
- Working through the meeting/discussion process
- Probing in order to develop understanding
- Reaching agreement
Exercise: “Master of the Universe” you are summoned to a meeting with the CEO. You are certain this is a long overdue promotion. Be prepared to negotiate the best possible terms.
Challenges – psychological elements
- Different types of people
- Behavioural approaches & body language
- Deadlocks, Standstills & Concessions
- Tricks, Traps & Tactics
- When & Where to Negotiate – Electronic Media are not ideal
Exercise: “The Presentation”. You are asked to present a detailed synopsis of your product/service to clients. Will you be able to give them enough detail!
Background of the trainer:
Your course director has spent more than 40 years in the banking and financial sector, much of it in a senior managerial/Director role. He is a former Institute of Banking Lecturer, having gained distinctions in the exams. He is a subject matter expert on all aspects of retail, corporate and global banking, including risk management and regulatory compliance. He has lectured extensively to both leading global financial institutions and to smaller bespoke specialists. He has delivered extensive programmes in all parts of the world including the USA, Europe, MENA, Africa and Hong Kong. He is currently an accredited Master Trainer at the world’s biggest global bank.
Negotiation Skills Course Summary:
All successful people are good at negotiating but to reach this stage most of us find it necessary to practice, prepare, hone up our skills and learn through experience. There is probably no such thing as a natural negotiator, even the best negotiators do so by refining their skills and planning important meetings very carefully beforehand. There is no doubt that the more prepared you are for a meeting or negotiation the better the outcome and the quicker your skills will improve. It is as simple as that.
This one day interactive Negotiation Skills course will help delegates to become masters at the art of negotiating the “win-win” outcome so often mentioned in selling textbooks. It examines the best ways of dealing with customers of all types whilst remaining mindful that the principles of fairness, seeking mutual benefit and maintaining a relationship are the keys to a successful outcome. Hard selling works, sometimes – usually only once. Negotiated sales generate repeat business and ultimately longer term relationships.
The Negotiation Skills course is highly interactive and will contain numerous case studies and examples.
What Redcliffe’s clients are saying about the course:
“Lots of real life examples. I enjoyed being in a small group as it allowed us to cover many case studies.”
Senior Investment Manager, Ardian
“Use of quality case studies and constructive feedback.”
“The trainer was great and there were practical case studies and exercises.”
Investment Specialist, UBS