Recessionary times call for great negotiating skills

Posted: Jul 22, 2009 | Comments: 0 | Views: 27 | Bookmark and Share

It looks like we're in the biggest recession since the Great Depression of the 30s. History will tell, of course, but this cycle is giving small businesses everywhere additional challenges and hurdles which they must overcome to even survive, let alone prosper. As many business owners and managers turn to executive management coaching, they're looking for advice from their business coach on matters which may now have taken on the role of critical importance to their enterprise.

In order to survive a recession, business owners must hone their negotiation skills. Negotiation will come into play on a regular basis as different situations and scenarios arise which need to be addressed. In this environment, your level of negotiation skills could mean the difference between surviving or not.

When should you negotiate? Every good business coach will tell you that you need to be able to achieve a win-win situation in all your business dealings. This may include negotiations between suppliers, between the employer or employee, and negotiations between the business and its clients. There is pressure on every organization during this downturn, and this leads to additional difficulties in normal day-to-day discussions and operations. In these cases, good negotiation skills are paramount to make sure that business is not compromised.

To prepare to negotiate yourself through recession, business coach strategies tell you to follow some key steps:

First of all, always strive to be prepared and flexible while working toward a mutually beneficial outcome - the win-win situation, again. You can be sure that if the other party figures that they have been taken advantage of in this vulnerable situation, there will be repercussions. They might then choose to re-evaluate the situation, and become increasingly difficult as they adopt the 'winner take all' mindset, themselves. When all parties truly adopt the win-win attitude, the outcome will most likely be significantly better in the end than either party had anticipated.

Secondly, it is vitally important that you be prepared and plan well for the process. Listen to your business coach when he tells you that you should anticipate what the other side is really looking for and further anticipate any stumbling blocks. By investigating creative solutions in advance, you will be prepared for the toughest negotiating environment.

The third point, which is also of particular importance in these hard-hit economic times, is to ensure that all of the individuals, or rather the potentially effected individuals, are involved. For example, negotiations at a high level between a business and government could very well impact an employees' union, and if so, this party should also be at the table.

A final point to remember is that you must keep an open mind and be as flexible as possible all the way through the procedure, even when the going gets seemingly impossible. Don't be tempted to label the other party as irrational, as this is a closed statement does not allow for movement in either direction. Once again, remember that the outcome is to achieve a winning situation for all concerned.

Don't forget to seek the advice of a good business coach, especially in these delicate times. The executive coach will have considerable experience of, and understand the importance of negotiation. Even in times of heavy recession, negotiations should lead to a winning outcome for all concerned.

(ArticlesBase SC #1059602)

Rate this Article
  • 1
  • 2
  • 3
  • 4
  • 5
  • 0 vote(s)
    Feedback
    RSS
    Print
    Email
    Re-Publish

    Source:  http://www.articlesbase.com/self-improvement-articles/recessionary-times-call-for-great-negotiating-skills-1059602.html

    Article Tags:

    business coach

    ,

    business coaching

    ,

    executive coaching

    ,

    management training

    ,

    executive coach

    Building a More Consistent Business

    How can I negotiate agreements that build more consistant business? (01:22)

    powerful negotiating techniques

    What are some powerful negotiating techniques? (07:33)

    Practicing Negotiation Skills

    How can I practice negotiation skills that let both sides win? (01:29)

    Finishing Negotiations on a High Note

    How can I start and finish each negotiation on a high note? (01:38)

    How to Negotiate

    One of the most difficult things to master is the art of negotiation. In this video, Sean explains how it's done. (00:47)

    Steven Rosen

    Meet Jane. Jane is an experienced and successful district sales manager who could work in any industry and for any company. In fact, there are many Jane’s in all companies. Jane is performance driven, a very good coach and a people person. Each month Jane is put to the test with different sales reps she must coach to success.

    By: Steven Rosen l Business > Management l Aug 05, 2009 l Views: 25

    Because you’re making an investment in business management training in Vancouver, you want to ensure that you get the biggest return.

    By: Aaron Eckhart l Business > Management l Jan 10, 2010 l Views: 18

    Article about the use of interim management training.

    By: Paul Wilson l Business > Training l Oct 22, 2008 l Views: 31
    Kevin Davis

    Some sales teams will never be great because their sales managers settle for being good. It's easier than being great.

    By: Kevin Davis l Business > Training l May 05, 2009 l Views: 183
    Alan Gillies

    It is well documented that Coaching is a highly effective method of managing and leading people to greater and greater levels of personal performance. Whether on the sports field or in business, the increase of the use of coaches has grown exponentially over the last few years.

    By: Alan Gillies l Business l Apr 08, 2009 l Views: 21

    Over the years, companies have been struggling to develop a better workplace and overcome problems and obstacles that may hinder or delay them from reaching their respective organizational goals. Rampant workplace issues such as low morale employees may cause them to be inefficient in their jobs, producing far below the company-expected output thus resulting to lower profit.

    By: Rusty Bender l Business > Management l Apr 20, 2009 l Views: 61
    Rod McKinnis

    As a Sales Management Training Consultant, I often notice business cards from salespeople with titles that require some effort to decipher.

    By: Rod McKinnis l Self Improvement l May 20, 2008 l Views: 246

    The coaching literature is awash with articles on the differences between coaching and other methods of Human Resource Development and on different types of coaching. Indeed I have written many of them myself! This article is my attempt at providing a succinct yet useful summary.

    By: Matt Somers l Business l Jan 07, 2009 l Views: 448

    If you are stuck, it is probably your thoughts that inadvertently keep you that way. Here is a proven way to break out.

    By: Trevor Hill l Self Improvement l Mar 20, 2010 l Views: 1
    Shiba Prasad Parhi

    Active mind and lethargic body will fail to bring desire goal. For short term gain do not give permanent pain to body and mind.

    By: Shiba Prasad Parhi l Self Improvement l Mar 20, 2010 l Views: 2
    Shiba Prasad Parhi

    This is my writting out of experience after being thrown out of job how could I able to regain my income , fame and peace of mind and all of them increased income increased by 60 percent popularity by 100 percent and stability better off.

    By: Shiba Prasad Parhi l Self Improvement l Mar 20, 2010 l Views: 2
    John Vespasian

    Entrepreneurs are so used to thinking creatively that they are often puzzled when they encounter people who are psychologically immobilized. "Why don't you try again?" entrepreneurs tell us. "Why don't you cut your losses and start something else? Why on earth don't you quit playing any sport whose rules make it impossible for you to win?"

    By: John Vespasian l Self Improvement l Mar 20, 2010 l Views: 4
    John Vespasian

    Entrepreneurs bridge the gap between their profitable vision of the future and currently underutilized resources. No rules can help you develop perfect ideas, since flawless business models do not exist. Each vision is individual, as it is the information in a man's mind and his perception of the world. Here are five of my ideas. Which ones are on the top of your list?

    By: John Vespasian l Self Improvement l Mar 20, 2010 l Views: 2
    John Vespasian

    "In life, it is often difficult," wrote Aristotle in the year 328 BC "to decide what to choose and what to endure when alternatives are painful and success uncertain." Whether you are in business for yourself, gainfully employed, or preparing for a better future, a day will rarely go by without your having to make decisions about people. Here are some ideas that you can use to avoid major mistakes and improve your effectiveness.

    By: John Vespasian l Self Improvement l Mar 20, 2010 l Views: 1
    John Vespasian

    Never allow self-reliance to render you blind to facts. When we start a new venture, ambition motivates us to move forward and overcome obstacles. Experienced entrepreneurs know how important it is to pursue opportunities with conviction, but they are also aware of the dangers of ignoring market signals.

    By: John Vespasian l Self Improvement l Mar 20, 2010 l Views: 1

    When trying to decide how to provide seating for a crowd, folding chairs often make a great choice. The chairs are easily transported and stored.

    By: karlopaolo24 l Self Improvement l Mar 19, 2010 l Views: 1
    Alan Gillies

    As if business was not hard enough, along comes a recession. All the challenges that face the business owner or manager are now magnified exponentially. Morale seems to jump to the top of the list, as it affects everything, including motivation and spirit. At times like these, the owner needs to turn to a business coach for guidance and support.

    By: Alan Gillies l Self Improvement l Aug 10, 2009 l Views: 25
    Alan Gillies

    If you listen attentively to your business coach, you will hear him say that everyone in business is involved in the sales process. So where does this sales process begin and end? Many people like to use the analogy of a sales funnel, with the widest part of the funnel at the top and the narrowest part at the bottom. Prospects travel through your funnel by travelling from the top to the bottom.

    By: Alan Gillies l Self Improvement l Jul 24, 2009 l Views: 18
    Alan Gillies

    It looks like we're in the biggest recession since the Great Depression of the 30s. History will tell, of course, but this cycle is giving small business everywhere additional challenges and hurdles which they must overcome to even survive, let alone prosper. As many business owners and managers turn to executive management coaching, they're looking for advice.

    By: Alan Gillies l Self Improvement l Jul 22, 2009 l Views: 27
    Alan Gillies

    Coaching as a means of education is quickly gaining acceptance and credibility, as our day-to-day lives become more and more complex. It seems that there's a lot to gain from a business coach, executive coach, career coach or life coach, as we integrate all elements and all aspects of our day-to-day existence.

    By: Alan Gillies l Self Improvement l Jul 16, 2009 l Views: 12
    Alan Gillies

    One of the issues faced by an organization with a dynamic team at its core is disagreement. Whenever a significant issue is addressed and discussed, you can expect to find people who do not see eye to eye. This is a good thing, as any business coach will tell you. You want to encourage innovation and different points of view, as this is, in overall terms, a good thing for your company and its life blood.

    By: Alan Gillies l Self Improvement l Jul 11, 2009 l Views: 16
    Alan Gillies

    Whether starting a business, retooling it, expanding it, or trying to stay the course, business coaching is a smart investment. Having a business coach that can plan, advise and support your business objectives can benefit your company in so many ways. The key to success is establishing goals and working with your executive coach to achieve them.

    By: Alan Gillies l Business l Jul 09, 2009 l Views: 70
    Alan Gillies

    Let's face it, human beings make mistakes. Companies are run by human beings. It therefore goes without saying that every business on the planet is going end up making a mistake at some stage. How you deal with mistakes is going to set you apart from your competition. Your business coach will tell you that you should handle every complaint that you receive in a professional and productive manner. Above all else, never ignore complaints!

    By: Alan Gillies l Self Improvement l Jul 06, 2009 l Views: 145
    Alan Gillies

    Many people might think that you, as a business owner, would be crazy to actually want to get rid of a client! But sometimes it is the right course of action to take. A business coach might suggest to you that an unwelcome, unruly or disruptive client is bad for morale, productivity and the bottom line. It is up to you as a business owner to decide if and when it is time to actually go ahead and fire that client.

    By: Alan Gillies l Self Improvement l Jul 02, 2009 l Views: 222

    Add new Comment

     
    * Required fields
    Author Box
    Articles Categories
    All Categories
    1