The Best Way to Manage Mistakes at the Business Negotiation Table
Imagine that you are in a sales negotiation. As part of your services, you will create a solution for an inventory problem that your customer is having. In the middle of the negotiation, a member of your team tells you that this solution can only be implemented manually, which will drive up the cost $250,000. What do you do? We …
Read MoreDefining Value in Negotiations: K&R’s ViO™
“We’re giving you $100K of value for only $60K. This is a good deal!” How often have you heard that sales pitch? Of course, this has nothing to do with business value. Value is derived from outcomes, and a statement like the one above derives from price. Yet defining value is one of the most critical negotiation steps. The strength …
Read MoreInternational Negotiation: Using the MID™ to Cut Confusion
“We must have a 10-day shipment guarantee.” “This functionality is a must.” “A price reduction is mandatory.” How often have you heard conditions like these during a negotiation? Sometimes negotiators make every request sound as if it were mandatory. But what are the real deal-breakers? K&R’s MID™ is designed to help you identify and prioritize the issues in any negotiation. …
Read MoreNegotiation in Sales: Presenting the Value Argument that Wins in Highly Competitive Conditions
With pressure to meet earnings and revenue targets, expand new markets and make the most of every resource, today’s global sales force is the difference between success and failure. Communication and online information are leveling the playing field, creating an extremely competitive environment and shrinking margins. Even the best products are one development cycle away from being leapfrogged in the …
Read MoreNegotiation Examples: Managing Internal Conflict
Not all books on negotiation skills cover how to handle internal dissension or conflict during important negotiations. There’s a reason we included it as the third of K&R’s Six Principles™ of Negotiation: A team divided is a costly team. Here is an example of how one of our seasoned negotiation consultants, “Hank,” handled a very difficult situation with a member …
Read MoreInternational Negotiation: More About Preparing to Win
In our previous post on international negotiations, we discussed the critical importance of preparation and gathering facts. You can’t control all the factors, but you can control your knowledge base. The bigger that base is, the higher the chances for success. As noted before, your charge as an international negotiator is to conduct thorough background work on everything that could …
Read MoreInternational Negotiation: The Facts and The Culture
We once assisted a Japanese client company (we can call them “Friendly”) in negotiating a strategic alliance with an American company (whom we will call “Abrasive”) that had a reputation for being challenging. Prior to our meeting, we contacted a colleague who had done business with Abrasive. Our friend warned us that the lead negotiator would be very confrontational. Understanding …
Read MoreNegotiating Seminars in a Box: K&R Negotiations Offers Free Video on Principles of Negotiation
Negotiating seminars often come at a price. For businesspeople who want a quick foundational primer on best practices without attending negotiation classes, K&R Negotiations now offers a complimentary, one-hour video – a negotiation seminar in a box. The video features a talk conducted by K&R Negotiations CEO Mladen Kresic, whose firm has helped companies across the globe close hundreds of …
Read MoreSix Principles Every International Negotiator Should Know: Terms Cost Money; Someone Pays the Tab
This is the ninth post in a series entitled: The Principles of International Negotiation: Finding Universal Value in a Complex World Every term in contracts and negotiations should be of some value. And each term has an associated cost. As a negotiator, knowing the rationale for a term enables you to articulate the value and identify its cost. The value …
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