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negotiation concession strategy |
Negotiation Concession Strategies
Any negotiation success comes from movement. If there is no movement, or concession, there can be no agreement.Ideally, the other side will do most or all of the moving. Or at least significant moving.
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Unfortunately, that is not always going to be the case. You can try to resist moving, but you need to plan how you would move, if it becomes apparent that you will have to in order to make the deal. Which is why I say to get what you want you must plan your concession strategy. This includes planning what concessions you might make and also how you are going to make them |
One thing that we always emphasize in our negotiation training programs is that all concessions have to justified. If your original offer is to remain supportable, then any concession that you make needs to be justified.
The justification might be a concession made by the other side in return, an increase in the volume of the purchase, a change in the terms, an agreement for future consideration, or any number of other things. It might even be in return for a signed purchase order.
However, if you don't have a justification, then the support part of your initial offer gets undermined, as does your credibility.
When you negotiate, don't be impatient, impatience can lead to all sorts of disasters.
The impatient negotiator might get worried if things seem to move slowly. If you are impatient and the other side senses it, they will wait.
Furthermore, remember that often good negotiators wait until the 11th hour before making major concessions. Their attitude is, "We have time; why should I blink first? If I wait, maybe they'll get impatient and they'll make the first major concession." Therefore, as deadlines approach and the time seems to be running out, don't be discouraged. Play the game to its fullest and be prepared for things to begin moving at the 11th hour.
© Michael Schatzki - 2005. All rights reserved
Michael Schatzki is a master negotiator who, for over 20 years, has provided negotiation training and coaching for thousands of people in the U.S. and globally.
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Negotiation Concession Strategies |
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