TLMT7-1

TLMT 201 – Retail Transportation Week 7

Transcript of “Negotiating” Video

This week we will discuss and review negotiating. Negotiating is a very complex component of any business as there are several strategies and tactics you can use to get the most out of your negotiations with customers, suppliers, employees, and management. Therefore, everyone has different approaches and strategies so we will hit on only a few key points in this presentation. You will quickly see as you review this week’s course materials that these strategies, tactics, and tips are customizable to fit you as a negotiator and the situation in which you are negotiating. As a marketing and sales manager, I found that some of these strategies work across any negotiation whether it is negotiating a line haul price with a truckload carrier or negotiating a contract and price for a cyclical order of promotional items. One this is for certain, you always need to be prepared and on your toes for anything and everything. You need to know your opponent, know your options and limitations, and most importantly you need to know when to walk away from the table. This brings us to the negotiator. What do you see as some of the key attributes of a good negotiator? To me, a good negotiator has certain skills, abilities, and attributes that make for effective negotiations. A good negotiator must be personable. This means that they need to have an outgoing personality and relate well with others. You want a person that is not intimidated or shy when it comes to dealing with people in a negotiation. A good negotiator needs to be observant and perceptive. In negotiations, the negotiator needs to watch for those non-verbal cues of their opponent. These non-verbal cues are insights into how the opposition is thinking and feeling. This means that the negotiator must be quick thinking, intuitive, adaptable, and a problem solver. Seeing these non-verbal cues may mean that the presentation needs to switch gears to keep the customer on the hook otherwise it could mean losing the deal all together. The most important skills of being a good negotiator is being a good listener. Most people want to talk and let others listen. A good negotiator listens in order to provide the best possible solution to create a win-win situation. You cannot effectively negotiate without listening to what the other side has to say. Others attributes of a good negotiator include, patience, integrity, determination, and a competitive nature. A good negotiator will use all of these tools in their toolbox to effectively negotiate a contract, deal, or sale. Therefore, to effectively negotiate you need to know your strengths and weaknesses to provide a well-balanced approach in negotiations. If you are not a good listener then how will effectively negotiate? Develop your listening skills.

If you tend to be impatient or a bull in a China shop – learn to be more patient and maintain a nice temperament. My point is that you can develop some of these skills or abilities to become a good negotiator which in turn plays into every part of your life. Think about all of the different activities you do on a day-to-day basis…you negotiate something with someone all the time. We are all natural negotiators but some are better than others! So, with that…what are some key points to consider as you go into negotiations? First, be prepared. Know the company or opponent inside and out. You need to know as much as possible about your opponent before coming to the table. Second, be confident and do not look like you need them more than they need you. If they were not interested in what you had to say, they wouldn’t meet with you. Third, provide options and flexibility in your services or solutions. Negotiation does not mean “winner takes all”. A win-win negotiation means that while both sides may not walk away with everything they want they are happy with the results and walk away feeling satisfied and not disgruntled or angry. Remember, building a relationship is key in any business transaction, contract, or deal so you do not want to start the relationship off on a bad note. A win-win situation is mutually beneficial and more apt to provide a long-term business relationship. Lastly, be observant and perceptive. I mentioned this a little earlier. You need to watch for non- verbal communications and be alert to shifts in demeanor, attitudes, voice intonation, and things of that nature. These cues will let you know when things may be shifting – either positively or negatively. Therefore, you must be quick on your feet to adjust if you want to seal the deal. Again, it is not “winners take all.” In conclusion, we have briefly discussed negotiating and some tips in effective negotiations. Remember, be prepared, be confident, provide options, be observant, and know when to walk away.

TLMT 201 – Retail Transportation Week 7

Transcript of “Negotiating” Video

This week we will discuss and review negotiating. Negotiating is a very complex component of any business as there are several strategies and tactics you can use to get the most out of your negotiations with customers, suppliers, employees, and management. Therefore, everyone has different approaches and strategies so we will hit on only a few key points in this presentation. You will quickly see as you review this week’s course materials that these strategies, tactics, and tips are customizable to fit you as a negotiator and the situation in which you are negotiating. As a marketing and sales manager, I found that some of these strategies work across any negotiation whether it is negotiating a line haul price with a truckload carrier or negotiating a contract and price for a cyclical order of promotional items. One this is for certain, you always need to be prepared and on your toes for anything and everything. You need to know your opponent, know your options and limitations, and most importantly you need to know when to walk away from the table. This brings us to the negotiator. What do you see as some of the key attributes of a good negotiator? To me, a good negotiator has certain skills, abilities, and attributes that make for effective negotiations. A good negotiator must be personable. This means that they need to have an outgoing personality and relate well with others. You want a person that is not intimidated or shy when it comes to dealing with people in a negotiation. A good negotiator needs to be observant and perceptive. In negotiations, the negotiator needs to watch for those non-verbal cues of their opponent. These non-verbal cues are insights into how the opposition is thinking and feeling. This means that the negotiator must be quick thinking, intuitive, adaptable, and a problem solver. Seeing these non-verbal cues may mean that the presentation needs to switch gears to keep the customer on the hook otherwise it could mean losing the deal all together. The most important skills of being a good negotiator is being a good listener. Most people want to talk and let others listen. A good negotiator listens in order to provide the best possible solution to create a win-win situation. You cannot effectively negotiate without listening to what the other side has to say. Others attributes of a good negotiator include, patience, integrity, determination, and a competitive nature. A good negotiator will use all of these tools in their toolbox to effectively negotiate a contract, deal, or sale. Therefore, to effectively negotiate you need to know your strengths and weaknesses to provide a well-balanced approach in negotiations. If you are not a good listener then how will effectively negotiate? Develop your listening skills.

If you tend to be impatient or a bull in a China shop – learn to be more patient and maintain a nice temperament. My point is that you can develop some of these skills or abilities to become a good negotiator which in turn plays into every part of your life. Think about all of the different activities you do on a day-to-day basis…you negotiate something with someone all the time. We are all natural negotiators but some are better than others! So, with that…what are some key points to consider as you go into negotiations? First, be prepared. Know the company or opponent inside and out. You need to know as much as possible about your opponent before coming to the table. Second, be confident and do not look like you need them more than they need you. If they were not interested in what you had to say, they wouldn’t meet with you. Third, provide options and flexibility in your services or solutions. Negotiation does not mean “winner takes all”. A win-win negotiation means that while both sides may not walk away with everything they want they are happy with the results and walk away feeling satisfied and not disgruntled or angry. Remember, building a relationship is key in any business transaction, contract, or deal so you do not want to start the relationship off on a bad note. A win-win situation is mutually beneficial and more apt to provide a long-term business relationship. Lastly, be observant and perceptive. I mentioned this a little earlier. You need to watch for non- verbal communications and be alert to shifts in demeanor, attitudes, voice intonation, and things of that nature. These cues will let you know when things may be shifting – either positively or negatively. Therefore, you must be quick on your feet to adjust if you want to seal the deal. Again, it is not “winners take all.” In conclusion, we have briefly discussed negotiating and some tips in effective negotiations. Remember, be prepared, be confident, provide options, be observant, and know when to walk away.