Nogotiation Blog

Insights on Negotiation

Join us for insights on how to negotiate a winning balance, where where both sides understand and appreciate the value they receive. As a result, you are more likely to forge a long-lasting relationship that yields more and better opportunities in the future. This idea underpins K&R Negotiations’ Win Wisely™ approach and underlines the importance of using leverage wisely.

Why Disruptive Deals Are So Difficult (And Why Yours Can Work)

In a 2012 Harvard Business Review article titled “The End of Solution Sales,” authors Brent Adamson, Matthew Dixon, and Nicholas Toman identified a new way of selling being practiced by the cream of today’s sales professionals—usually B2B salespeople attempting to land complex deals. These prominent authors identified a small percentage engaged in what they call “insight selling.” In contrast to the classic “solution sale,” in which salespeople engage with purchase agents to discover salient needs and align their solution with those needs, this new breed of insight seller identifies needs that potential buyers may not even be aware of yet. They identify opportunities in areas of flux, offer “provocative insights” about the customers and their business models, and become…

Fighting for Your Value: The Negotiation Wisdom of Bernard Hopkins

On the eve of his November meeting with feared Russian light heavyweight Sergey "Krusher" Kovalev, the New York Times took a fascinating, in-depth look at the 49-year-old who was about to step in the ring against Kovalev: Philadelphia's Bernard Hopkins. It was a chance to learn about the hard-won wisdom and discipline that had made him not just an expert boxer who could seemingly defy time, but an expert businessman. Boxing is often called the "cruelest sport" for the punishment that boxers absorb in the ring. It's also financially unforgiving. The destinies of top fighters are managed by a handful of powerful and (sometimes) corrupt promoters. Even seemingly handsome six-figure paydays get gobbled up by managers, trainers and promoters. Only a few rise to wealth and fame, and many of these…

Do You Want to Be Successful? A Better Negotiator? Break These Three Bad Listening Habits

Forging a winning deal depends largely on your ability to gather as much information as possible about the other side’s market position, motivations and goals. This holds equally true at the organizational, departmental and personal levels. Better information means a more finely tuned value argument and increased credibility, both of which mean more positive leverage that will help you close. Behind-the-scenes research with your team as you prepare to negotiate is a vital aspect of information gathering; the rest is gleaned from how you engage the other side in conversation. This may seem almost too basic to mention, but we are still surprised to see how many seasoned professionals fail to listen and thus don’t gather valuable information from conversations with potential partners, vendors…

Negotiation Mistakes: Misguided Integrity

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Negotiating with integrity is central to the Win Wisely™ approach; after all, if we are in search of positive leverage to artfully move the other side closer to our way of thinking, we must have integrity. Integrity gives us the foundation to make value arguments that are believable. When we are perceived as people who constantly play games with the truth and are slippery during discussion of the challenges, our leverage predictably erodes. However, there are situations in which being too forthright needlessly damages your position and erodes your leverage as surely as being untruthful would. Imagine that you are negotiating with a manufacturer whose specialty component is critical to your upcoming product. The week before, you dismissed an alternative provider after lengthy negotiations,…

When Emotions Compromise Your Negotiation Leverage

Successful businesspeople like to think of themselves as rational beings that apply thorough analysis to get optimal outcomes. Of course, this is not always the case. We’re humans, not optimizing machines: We’re biased towards doing business with people we like and trust; we succumb to pride when a calmer perspective would have yielded a better outcome for everybody; we get emotionally invested in a deal and can lose focus of its true merits. It is easy to become emotionally invested in a deal, especially a complex one that has required a large time and resource commitment from you and your team. Nobody wants to simply walk away from something they have cultivated for months—even when the rationale for actually doing the deal starts to dwindle. We once engaged with a client who…

Unprincipled Concessions Cost You Money at the Negotiating Table

Spot Them, Avoid Them and Close Faster Unprincipled concessions are concessions not tied to a credible business rationale. Years of research show us that this simple business negotiation mistake costs companies between 9 and 18% of their gross operating revenue. The most basic negotiation example of an unprincipled concession is this: To test your negotiation acumen or your value proposition, your client asks for a large up-front discount. You immediately agree without reference to the value of your solution, thus making an unprincipled concession. At this point, the potential client is thinking two things: They could have asked for and received an even bigger discount You don’t know the true value of your offering An unprincipled concession can have a snowball effect…

Creating Value-Based Leverage

In this short video, learn why negotiation is really the art of finding agreement.

Mladen Kresic introduces the concept of value-based negotiations leverage and why it is a powerful tool for moving conversations to an agreement.

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