Negotiation in the Financial Industry
The Big Picture
Welcome and Overview.
Challenges to the financial professional in becoming a good negotiator, and why it's so important that you become one. The top 5 situations that will assure a poor outcome if you fail to negotiate well.
Key perceptions regarding negotiating.
Negotiating styles. Each participant will discover their dominant negotiating style, and how to utilize that style for maximum results. Differences in style between technical/financial and non-financial people in negotiation – and how to bridge those style differences to achieve success.
Positioning. A powerful module. Participants learn the concept of positioning and how to position themselves and your organization for maximum results. This is the key to gaining additional business and achieving high rates on your loans while maintaining great relationships with your customers. Positioning mistakes often made by professionals within the financial community – and how to avoid them.
Power. We shine a spotlight on power: Where it comes from. How to get more of it. How to not be abused by other’s power.
When to negotiate (and when not to). Avoiding “religious wars”. How to make sure you don’t win the battle but lose the war.
The greatest negotiation principle
Before The Negotiation
Preparation. How to prepare for negotiation. Expectation. Aiming high. Assessing strengths and weakness of yourself and others. This section includes a preparation checklist in the resource section.
Reading others/what makes this guy tick?
Logistics of Negotiation
The Success Formula/Your secret weapon
Opening the negotiation/Establishing rapport
Finding that middle ground
Tactics and Strategies. These modules deal with the actual tactics and strategies of negotiation. Each is introduced and demonstrated, then discussed and role played by the group.
Concession Strategies. How do you give in without losing face? How do you concede while maintaining the relationship? How do you concede in such a way that you end up in the final destination you desired?
Creativity and negotiation/thinking on your feet
Ending the negotiation
Coaching others to be good negotiators
- Team negotiating
- Advantages of a team
- Pitfalls of a team
- Picking the team
- How the team works
Lessons from my Dad
What it takes to become a master negotiator