Sales

Why You Should Attend This Course:

The word 'negotiation' either rings intense fear or excitement in any professional's mind but this is an important life-skill that one can never be complacent with.

Practical and down-to-earth, this course is designed for the sales professional who needs to engage in frequent negotiations with demanding buyers who may have the upper hand at times. The two-day course covers the strategic approach to preparing oneself to effectively engage in productive negotiations whilst incorporating the needs of the other party, customer or stakeholder.

The primary objective is always to create a win-win outcome for all parties concerned. Leveraging the highly-acclaimed Harvard 7 element model, this course integrates a systematic approach to handling the entire process of engagement from start to close, leaving nothing to chance using the LOUDEST © approach to sustain an open dialogue.

 

Learning Outcomes:

  • Understand the principles of negotiation that undergirds a win-win outcome
  • Identify the crucial elements needed to prepare for a negotiation strategy that is focused yet flexible
  • Learn the approach towards conducting a negotiation from the onset to a close
  • Handle the nuances in conversations during the ongoing negotiation process to ensure that dialogues are always encouraged

 

Course Outline:

Part 1: Mind of the Negotiator

a. Introduction

  • Group activity: “What do you say during a negotiation?”
  • Anchoring the Power
  • Group activity: "Deal or No Deal?"
  • Discussion and review of live negotiations

b. What is Negotiation?

  • The Process and the Psychological
  • The Principled Negotiator

c. Versatile Frame of the Mind

  • Purpose of the Versatile Mind: Firefighter
  • Activity: “Common cases of failures in Negotiations”
  • Principled Negotiation

Part 2: The Cycle of Negotiation

a. The Circle of the Negotiation Phases

  • Principled Negotiations
  • Building trust during negotiations
  • Introduction to 7 Elements Framework

b. Communication Skills to Control Negotiation Climate

  • Master assertive talk to gain understanding & earn trust
  • Activity: Show you understand
  • Reframing skills for better negotiation
  • Identifying reframing context/needs/consequences
  • Activity: Reframing with Tact

c. Reframing to Personality Types

  • DISC Personality Profiles
  • Activity: Know your negotiation style

d. Team Negotiation Roles

  • Belbin Model: Shaping your team to negotiate
  • Activity: Setting your team roles

e. Common Clues to Deceit

  • Communication signals of deceit
  • Signal sources: Face vs. Body vs. Word
  • Avoiding and discerning the signals with care

Part 3: Establishing the Relationship and Interests

  • Interests of Negotiating parties
  • How to establish the interest behind the position
  • Activity: “What’s his interest?”

a. Price Positions and their Consequences

  • Buyer’s learning from seller’s position
  • Common selling mistakes in price positions
  • Common buying mistakes in price positions

b. Identifying Options and Benchmarks

  • Why price is not the only option
  • Seller’s acceptance for vendor profit
  • Buyer’s validation for seller’s profit
  • Activity: Validate for your premium
  • Buyer’s strategies beyond price
  • Seller’s strategies beyond price
  • Activity: Identify options for seller

Part 4: Establishing the Relationship and Interests

  • Managing “standards” in a conversation of claims
  • Activity: Identify standards of fairness
  • Strategies to find out competitor’s pricing

a. Alternatives and Commitments

b. Alternatives if Negotiations Fail

  • BATNA and why you need to anticipate your bottom line
  • Common mistakes in handling BATNA
  • Activity: Identify Client/Seller BATNA

c. Commitments in a Negotiation

  • Commitment – common myths in closing well
  • Commitment during a pending outcome
  • Activity: Issues in an agreement

Part 5: L.O.U.D.E.S.T Framework

  • L.O.U.D.E.S.T Negotiation
  • Personal vs. Professional Satisfiers
  • Activity: Checklist for negotiation
  • Launch and offer guidelines
  • Activity: Opening Launch/Offer dialogue
  • U-Turn Qualifiers

U-Turn Qualify and Dialogue

a. Responding to the Customer’s Tactic

  • U-Turn Qualifiers and its purpose
  • Activity: Qualifiers to customer’s move

b. Dialogue to digest detail

  • Principles of controlling dialogue
  • Using dialogue to create room
  • Activity: Setting your dialogue probe proof
  • Do’s and Don’ts of Dialogue
  • Activity: Role Play Dialogue

Part 6: Concession Planning

a. Concession – A double edged sword

  • Why customers want concessions
  • Activity: Concession Game

b. Range of concessions

  • Activity: Defining customer concerns and wants vs. sellers

c. Concession Strategies

  • Activity: Designing your concession strategies

d. Price Discounting

  • Why price discounting
  • Why buyers find you expensive
  • Defining value with price
  • Activity: Prove your price
  • Price objections and blunders to avoid
  • Price objections strategies
  • Activity: Price Objection Strategies

Part 7: Exchange Dialogue

  • Stating the counter offer
  • When to open high?
  • Strategically using concession
  • Activity: The concession exchange
  • Techniques to stay on course
  • Exploiting differences to find common ground
  • Building momentum during the exchange

Common Buyer Tactics and Counter Measures

  • Buyer tactics and their intentions
  • Handling emotional tactics
  • Activity: Common Buyer Tactics
  • 6 Common buyer Tactics:
    1. Bluff
    2. Take it or leave it
    3. Nibble for freebies
    4. Budget constraints
    5. Good Guy bad guy
    6. Reserve Auction
  • Activity: Role-play for counter measures

Part 8: Concluding the Settlement

  • Last minute competitive moves
  • Diffusing the tension in a deadlock
  • Settling to “give in”
  • Activity: Settlement
  • Tie-up to verify agreement
  • 8 steps to a win-win
  • Activity: The negotiation end game

 

Trainer’s Profile:

Regina Chua has more than 27 years of international corporate management experience from FORTUNE 500 companies and organization performance consultancy for global MNCS today. As a process facilitator, she is known for optimizing productivity from group dialogue, team development and leadership engagement.

Her collaborative facilitation method promotes a balanced share of voice in formal dialogue thus enriching options consideration, stakeholder participation, effective problem solving and decision making.

She has earned her clients’ trust with her collaborative stakeholder-centric approach and keen business acumen. Understanding the challenges of the Asian B2B consumer, the outcomes of her workshops is evident by her impressive customer credentials and testimonials of the improved corporate performance.

The media has even recognized her in The Straits Times in 2009 singled her out in SME Spotlight for her corporate edge. More recently, Channel News Asia gave the thumbs up for her for her sold-out book launch on consultative engagement, FIREFLY – How to build trust and credibility in 2015.

Regina holds a MBA from the University of Hull, Masters in Strategic Marketing, BBA (NUS) and is one of the few Asian global certified Marshall Goldsmith® Stakeholder Centred Coaches who is equipped to administer the Global Leaders of the Future Leadership 360 assessment coupled with the Advanced Certified Emergenetics Consultant (Neuroscience-based psychometric tool) in Asia Pacific. She is also currently with DISC Certification, Strengths Deployment Inventory. She has also attended the popular program “Identifying Strategic Opportunities" at Thunderbird University, Arizona Executive Development Program to keep current with the global trends.

Course Fee
S$895.00
  • Time: 9am - 5pm
  • SDF Available (Non-WSQ) Code: CRS-N-0022665
  • SkillsFuture Credit eligible
  • MIS Member enjoy 20% Discount
  • Register for 3 or more participants to enjoy 5% Group Discount