Notes

Negotiation
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Will use our practice last week for example

We actually have the biggest advantage as a 2 man team. Write on your piece of paper and prompt each other to look at it. Usually for me I will draw circles to try to hint to look at the paper, so we know what points to discuss about. Also, break down the columns over the 3 speakers and summarize their points. This is a very "thinking on the fly" simulation, so we need to identify their key points, needs and wants.

Be very mindful of word choice. For example, when probing on their goals, use very subjective words like "perhaps", "maybe", "may I check". Ensure that the opposing team is placated, and slowly dig out what they wish to get out of the negotiation. One of the basics I was taught was that in negotiation, pride does not earn you money, words do. Go in with the mindset that you are trying to earn your business 100k, 200k, and you will think differently

Always keep writing. While they are speaking, look up, listen to them, then write down their key points. Just summarize everything in point form and partition your information over what they want. Studies show that you absorb better if you write down info. Really helps you in thinking on the fly

Be firm, yet diplomatic in your points. Most teams are very 1 track mind. Basically, if they want to get an objective, they just think of the objective (team 5 last cycle somewhat fell into that trap. Once we offered the compensation they were almost willing to accept). Observe their body language and their eyes. It tells alot on what they are thinking. Also, look towards how they look at their other teammates. We would be able to better pinpoint how united the team is, and determine the weak point/link to tackle on. For instance, from a 30-50% compensation, you can actually look towards methods which ensure they sustain business with you, such as repairing the goods + discounts on future purchases. The goal of negotiation is to ensure that the other party is happy, when they are happy they tend to listen and be more compliant with what we wish for. If there is an overly aggressive person, its hard to say, but there are means for to make the person lose the cool and go against his group members. This is a second way of ensuring that we can negotiate, when we show ourselves united while the other party has internal conflicts

Understand the rapport with our opponents. Sometimes, its simulated we have a long term rapport. Keep tapping on that fact we understand your feelings and wish for the best of your company, as with ours, while emphasizing the importance of sustained businesses on both aspects. (e.g. can even say the difficulty of finding a reliable crystal dealer from in the market). Know the "why" factor of our company, or basically, why the other company has been working with us for so long

Never throw all your cards on the table. Start small, and gauge and adjust accordingly in how they behave, speak and negotiate. When the other party speaks, keep a straight expression, while maintaining a warm smile. For me, I tend to cover my mouth so not as to show what I'm feeling, since i tend to laugh/smile at points which give us a huge advantage. Instead, I try to portray myself as deep in thought while respecting the opposition, looking up to smile at them periodically.

Most importantly, put on a united front. Never show that we have our own agenda. If we notice that we have a point we disagree on, example, one of us says "we plan to compensate 50%", subtly use other factors to hint that we may not agree. Like "Although we plan to compensate at 50%, we believe there are other alternative solutions which may handle the situation better". (This is to hint to each other that we may be going off track/offering too much)