Leaders: Questions for Success by Brian Buck
Recently, I hosted a workshop for leaders and managers of dealmakers. It was an outstanding session, attended by some very smart and dynamic people — all of them focused on guiding their teams to success via great management skills and experience. During the session, one question was asked repeatedly: “How do I know if my team will get the best deal?” In my experience, there are three questions that will help you determine whether or not your team is set up for a successful negotiation. Before your team gets to the negotiating table, ask them, “What does the other side want?” Their answer must be more than “the deal.” They should be able to articulate what the other side wants out of the deal, including specific issues that need to be addressed. “What does the other side want?”
In any negotiation, there are two or more parties negotiating. A deal will close only if all parties’ issues have been addressed. Therefore, those who get more valuable deals are those who not only understand what they want out of the deal, but also what the other party wants.
If they can’t, then they’ve likely spent their time thinking only about their own position. This is going to limit their ability to get to a deal efficiently and effectively.
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