Academy Group 5, chief executive mentoring and experiential learning group (with members from the Coventry area) worked with Jeremy Thorn recently on how to ‘negotiate better deals‘. It was a very valuable and enjoyable session – the role-play was a particularly powerful source of learning: it really drove home the power/necessity of aiming high in negotiating – and of making the first bid whenever possible. (See Jeremy’s website at www.jeremythorn.co.uk.)
The main points that we all took away to implement in our businesses were:
- PREPARE before the negotiation (don’t just go along to “see what they have to say”.)
- AIM HIGH – deals often end up near the mid-point between the opening positions, so a tough opening moves the mid-point your way.
- “Never give Owt for Nowt”: always trade concessions.
Chairman Academy Group 5
The Academy for Chief Executives, a leading provider of experiential business learning® facilitates peer groups of CEOs and Managing Directors who meet together every month to network and take full advantage of experiential learning. To hear great speakers like this every month and engage in The Board You Could Never Afford®, to find out more about the Coventry Group, or to find a local group near you, visit www.chiefexecutive.com.