This video covers the main elements of the 6 phases of any negotation
- All negotiations start with nothing and that is important to remember. It is foundational and often taken for granted. Knowing this allows us to be proactive. We can look at the business landscape and identify what negotiations we would like to try to initiate. You are always building something from nothing.
- I might have something. This is an interesting exploratory phase that is often overlooked.
- Now an offer is on the table. Too many people make the mistake of overanalyzing or wanting to know if something works before they try it.
- Do I want the offer? This is where you want to trust your intuition. Sometimes we think we want something, but when we get deeper into the details, we realize we don’t.
- Analysis phase. What is the cash value of the deal and how much time does it take. Look at the bigger picture.
- Do I use my leverage now or later? If you have a working relationship and have leverage use it now. If not, build the trust first and then negotiate with proven leverage later down the road.
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