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Contract Negotiation Planning Tips

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From Quick Guide: Negotiation Skills Guide

Summary: Planning is essential for contract negotiations. Learn about the best way to plan your negotiation strategy in this free negotiating video.

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By Barry Payne
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Barry Payne is a management consultant specializing in the behavioral aspects of management. He has worked in sales, marketing, personnel and planning roles in a number of...read more

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Video Transcript

"Hello my name is Barry Payne on behalf of Expert Village. In this segment we are going to be looking at one aspect in planning time. Who do you think spends more time in planning? Skilled negotiator or average, you know what most people say that skills do a few say the average do. In fact they are both wrong, time is no different between skilled and average. Nobody has enough time for planning. The key difference is how that limited planning time is used and there are two elements to planning. The overlap key speaking the analysis accrues of the beginning in which you’re working out the numbers, checking the market, whatever it may be. And then that second phase is actually thinking about how to play it when you sit with the other side. Now in that time period skilled people allocate time differently from the way average people do. Skilled people tend to do more face to face planning and less analysis. Now I am not saying don’t do analysis; I'm saying do it, but don’t trust it. Very little is known about management. There was a book written a few years ago called, In search for Excellence, and it looked for the worlds most successful companies and tried to find out what was distinctive about them. Now unfortunately half of those companies have either declined or have gone under, or don’t have the reputation today that they had then. What am I saying? There is one thing we do know about management for sure and that is that managers do not yet know how to estimate for past and plan that we are certain of there is plenty of evidence to support it. Having said that, the law of dimensioning returns. The more ethics you put in the analysis the less results you're going to get. Skilled people seem to know this so sure they do their own analysis they put it to one side that’s what we want and then they spend more time thinking through how to play it with the other party when they sit down."

eHow Article: Contract Negotiation Planning Tips

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