Negotiating business deals has little to do with bargaining, compromise and competition. Effective negotiaion is not a mental and verbal sparring session, where the side with the sharpest mind, toughest resolve and most aggressive tactics emerges as the victor. Taking such an approach invariably leads to win-lose or, worse, lose-lose outcomes. Effective deal makers approach negotiations as a mutual problem-solving process.
The foregoing are just a few of the gems gleaned from this TEC® Best Practices article on creating win-win business deals. The authors conclude that to create win-win outcomes, both sides to a negotiation must::
"Strive to understand the other person's wants and needs Attempt to solve the other person's problems as well as their own Adopt a mindset of flexibility rather than rigidity Focus on "enlarging the pie" rather than dividing it up Always aim for win-win outcomes
This approach may sound "soft" to those who enjoy going toe-to-toe with the other side during a negotiation. However, our experts emphatically agree that following these principles will dramatically increase your chances of creating deals that benefit both sides and lead to positive long-term relationships."
I am in need of some input about succession letters to clients. I partnered with someone in November and then in January he suddenly died. How do I inform our clients and retain them. I have been behind all the work for the past 7 years before the partnership, but non of our many clients really know me. Some may know my name. We are service providers and I need to make contact with the clients inform them and do some needed marketing. Any advice would be welcomed.
Comment By: Sean | 3/3/06 at 12:00 AM How to Create Win Win Business DealsI am in need of some input about succession letters to clients. I partnered with someone in November and then in January he suddenly died. How do I inform our clients and retain them. I have been behind all the work for the past 7 years before the partnership, but non of our many clients really know me. Some may know my name. We are service providers and I need to make contact with the clients inform them and do some needed marketing. Any advice would be welcomed.
Comment By: Sean | 3/3/06 at 12:00 AM How to Create Win Win Business Dealswhat is the different from Ltd, Inc. and the disadvantages, advantage of them. If I am to open an import/export business on ceramic potteries products. What do I call them? Ltd, or Inc What to start up with? for example: Where to call for Freight shipping cost, delivery, storages. etc Do I have to have an office to store my products, or just store in my back yard?
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Comment By: Abera | 4/22/06 at 12:00 AM How to Create Win Win Business Deals"This approach may sound "soft" to those who enjoy going toe-to-toe with the other side during a negotiation." Yes you are right that this can be an effective approach in a bargain. Actually doing a negotiation needs honesty and softness both. YOu must know when to be tough and when to be soft but softness always pays.
Comment By: Razib Ahmed | 4/29/06 at 12:00 PM How to Create Win Win Business DealsEffective deal makers approach negotiations as a mutual problem-solving process. --> i agree! like in any other modes of communication, a reciprocation must occur - both parties must learn how to listen and talk.
Comment By: nikki | 5/29/06 at 12:00 AM How to Create Win Win Business DealsMaking a deal is not a very tough job. I think while making a business deal both the parties have to remember that it is not a face to face war situation where one party must win. Both parties have to lose something to gain some. That’s the way it works.
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Comment By: Anthony Marchant | 7/11/06 at 12:00 AM How to Create Win Win Business DealsGreetings Sir/Madam, I am Mr. Anthony Marchant, a solicitor at law. I am the personal attorney to Mr. Martin O?Donnell a businessman from your country. On the 20th of June 2002, my client, his wife and their two children were involved in a car accident in which all occupants of the vehicle died. My client deposited as family belongings in a Bank in London, the sum of 17 Million United States Dollars, with the hope of transferring it to his country as soon as he is on leave. I have made several attempts to locate any of my clients extended relatives but to no avail. I am contacting you to assist in repatriating the money left behind by my client before they get confiscated or declared unserviceable by the Bank where the deposit was made. The Bank has issued me a notice to provide a next of kin or have the money confiscated within the next Fourteen official working days...locating any of them have been unsuccessful for over 2 years now. If you will help please include your phone and fax number in your response for better communication. God bless you and your family. Best regards, Anthony Marchant ...
Comment By: Anthony Marchant | 7/11/06 at 12:00 AM How to Create Win Win Business DealsGreetings Sir/Madam, I am Mr. Anthony Marchant, a solicitor at law. I am the personal attorney to Mr. Martin O?Donnell a businessman from your country. On the 20th of June 2002, my client, his wife and their two children were involved in a car accident in which all occupants of the vehicle died. My client deposited as family belongings in a Bank in London, the sum of 17 Million United States Dollars, with the hope of transferring it to his country as soon as he is on leave. I have made several attempts to locate any of my clients extended relatives but to no avail. I am contacting you to assist in repatriating the money left behind by my client before they get confiscated or declared unserviceable by the Bank where the deposit was made. The Bank has issued me a notice to provide a next of kin or have the money confiscated within the next Fourteen official working days...locating any of them have been unsuccessful for over 2 years now. If you will help please include your phone and fax number in your response for better communication. God bless you and your family. Best regards, Anthony Marchant e-mail contact : marchant_firm01@yahoo.se ...
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