Career Progression Briefing: Negotiating in Finance

Dealing with red, blue and purple negotiators Dealing with a blue negotiator

You will need to vary your own negotiating style depending on who you are dealing with. Let’s look at them each in turn. Dealing with a red negotiator If you are dealing with a hyper-competitive red negotiator, who wants to win, if necessary at your expense, the temptation is to toughen up and mirror their approach, but in fact that can simply mean you end up butting heads and getting nowhere. So here are some tips for dealing with a red negotiator: Take a cool but firm tone Use respectful negotiating manners Have patience in terms of the speed of the process Don’t get emotional – try to be analytical Rely on listening skills to gather information Develop possible areas of agreement

If you are dealing with a blue negotiator, remember to focus on finding a win-win. Here are some tips for dealing with a blue negotiator: Be a bit more assertive than you’re normally comfortable with Take control of the agenda Summarise and confirm where you’ve got to in the conversation Record the progress you make and the things you agree Write up what’s agreed and confirm it back afterwards

NEGOTIATING IN FINANCE | STEP 3: UNDERSTAND THE DYNAMICS

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