Negotiation Masterclass: How to achieve better outcomes in your business and personal life

By Mark Bartrick

Whether you're a beginner or an experienced negotiator, this book is a game-changer. Gain valuable insights, advice, and tactics to help you navigate any negotiation scenario with ease.

Negotiation is the cornerstone of business and personal success, and th

• Language: English
• Publisher: Mark Bartrick
• Release date: May 26, 2023
• ISBN: 9781916596887

Book preview

Negotiation Masterclass

How to achieve better outcomes in your business and personal life

Mark Bartrick

Copyright © 2023 Mark Bartrick

ISBN: 9781916596887

All rights reserved, including the right to reproduce this book, or portions thereof in any form. No part of this text may be reproduced, transmitted, downloaded, decompiled, reverse engineered, or stored, in any form or introduced into any information storage and retrieval system, in any form or by any means, whether electronic or mechanical without the express written permission of the author.

About the Author

Mark Bartrick is a negotiation coach and lives in Leicestershire in the UK.

He has been helping businesses negotiate contracts for over 30 years.

Mark has worked as a Negotiation Consultant for Gartner Inc, and was also a Sourcing and Vendor Management Analyst at Forrester Research Inc. As well as publishing research about negotiation and sourcing best practices, Mark also helped many Gartner and Forrester clients save money by teaching them how to negotiate better deals with all their software and technology suppliers.

Mark now has his own negotiation consulting business which specialises in helping CIOs and IT Procurement leaders negotiate better deals with enterprise software vendors such as Microsoft, Oracle, SAP and Salesforce.

You can contact Mark via his business website www.scr21.co.uk or message him via his Profile page on LinkedIn.

Contents:

Chapter 1: Introduction

Everyone should learn how to negotiate

The benefits of mastering negotiation skills

Chapter 2: The Importance of Negotiation in Business Transactions

Negotiation is a fundamental skill for any business professional

The impact of effective negotiation on business outcomes

The cost of ineffective negotiation

Case Study: How Microsoft achieved a good outcome when negotiating its acquisition of LinkedIn in 2016

Case Study: How AOL negotiated ineffectively and ended up getting a poor deal when acquiring Time Warner in 2000

Chapter 3: The Common Misconceptions about Negotiation

The myth of the ‘win-lose’ negotiation

The belief that negotiation is a natural talent and not a learned skill

The assumption that negotiation is only for big deals

Various other myths about negotiation

Case Study: How Starbucks and Spotify achieved a win-win outcome in their partnership negotiation

Case Study: How a win-lose negotiation campaign ended badly for the private equity firms that acquired Toys R Us in 2005

Chapter 4: Understanding Negotiation

Definition of negotiation

Different types of negotiation

A quick summary of the negotiation process

Pre-negotiation

Negotiation

Post-negotiation

Case Study: How a competitive negotiation stance helped Walmart succeed at the negotiating table in 2018

Case Study: How a collaborative negotiation stance helped General Motors (GM) and the United Auto Workers Union (UAW) negotiate in 2019

Chapter 5: Pre-Negotiation

Pre-Negotiation is an essential component for success

Building a negotiating team

How BATNA can play a critical role in negotiations

Researching the other party

Setting objectives and priorities

Balancing competing objectives

Case Study: How good preparation helped Disney negotiate a successful outcome

Case Study: How poor negotiation preparation by Pfizer led to a failed merger

Chapter 6: The Early Stages of Negotiation

Finding common ground

Building rapport and establishing trust

Strategies for building rapport with the other party

Establishing trust and credibility

Case Study: How Starbucks negotiated a successful outcome by understanding the other party’s interests and needs

Case Study: How Nokia failed to negotiate a successful outcome because they didn’t understand the other party’s interests and needs

Chapter 7: Negotiation

The Importance of Negotiation strategies and techniques

The importance of understanding and using different negotiation techniques

Competitive vs. Collaborative negotiation

The benefits of collaborative negotiation

Strategies for moving from a competitive to a collaborative approach

Framing and Reframing

Different types of frames

Reframing techniques

Anchoring and Counteroffers

Strategies for using anchoring to your advantage

Making and responding to counteroffers

Questioning and Active Listening

Different types of questions and when to use them

Techniques for active listening

Building Consensus

Strategies for building consensus

Overcoming obstacles to consensus building

Case Study: How Tesla negotiated a great outcome by utilising collaborative negotiation and building consensus

Case Study: How Daimler-Benz and Chrysler Corporation failed to negotiate a great outcome because they didn’t build consensus or negotiate collaboratively

Chapter 8: Managing Difficult Negotiations

Managing difficult negotiations is an essential skill

Different types of difficult negotiators

The importance of understanding conflict, emotions and power dynamics

Dealing with conflict

Strategies for managing conflict

Handling Emotions

Techniques for managing your own emotions

Strategies for managing other people’s emotions

Managing Power Dynamics

Strategies for equalizing power

Using power to your advantage

Breaking Deadlocks and Impasses

Strategies for breaking deadlocks and impasses

Techniques for restarting stalled negotiations

Case Study: How Apple successfully managed a difficult negotiation and achieved a great outcome

Case Study: How the NFL failed to reach agreement because they couldn’t get past a deadlock/impasse

Chapter 9: Closing the Deal

Closing the deal is a critical step in the negotiation process

Strategies for achieving agreement

Techniques for closing the deal

The importance of clarity and agreement

Techniques for ensuring clarity

The role of written agreements

Essential elements of a written agreement

Strategies for negotiating the terms of an agreement

Case Study: How Google negotiated a great outcome by insisting on having a clear written agreement

Case Study: How having a poorly written agreement led to a dispute between Starbucks and Kraft Foods

Chapter 10: Managing Post-Negotiation Relationships

Post-negotiation relationships are important

Strategies for maintaining good relationships after the negotiation

Dealing with potential conflicts after the negotiation

Case Study: How a good relationship post contract negotiations helped Nike and their advertising agency succeed

Case Study: How Nissan and Renault struggled to deal with conflict after a contract negotiation had concluded

Chapter 11: Conclusion

Mastering negotiation skills requires practice and experience

The importance of continued learning and practice

Strategies for ongoing improvement of negotiation skills

Final thoughts

Chapter 1:

Introduction

Everyone Should Learn How to Negotiate

It doesn’t matter if you need to negotiate in a personal or professional context: everyone can improve their life by understanding and applying best negotiation practices.

In your personal life, good negotiation skills can help you to navigate interpersonal relationships, resolve conflicts, and make crucial decisions. For example, if you can negotiate well, you can communicate more effectively with family members, friends, and romantic partners, leading to stronger relationships and a more fulfilled life. Negotiation skills can also help individuals to make important decisions about their personal lives, such as buying a home, planning a wedding, or choosing a career path.

In your professional life, negotiation skills are essential for anyone looking to develop their career. Anyone applying to a new job must likely negotiate terms like salary and benefits. Once you’re in a role, negotiation skills can help you to work collaboratively with colleagues, customers, and suppliers. Negotiation skills are also crucial for entrepreneurs, managers and executives, who must negotiate deals, contracts, and partnerships on behalf of their organisations.

This book focuses on using negotiation skills in the workplace, and the case studies presented are all business related. But the skills you’ll learn here can be applied in all aspects of life to help solve