Running into a angry grizzly requires swift, deliberate action. It is often best to aim and shoot rather than think and plan how to react.
Flash Negotiations is a tactic used to quickly resolve an issue. The proper use of this tactic relies on the sixth sense a negotiator gets that a resolution is at hand. This can happen when meeting the other person for the first time. Usually such meetings are tactical opportunities to gather and validate information upon which future strategies are developed. But the experienced negotiator will, on occasion, get a flash opportunity to open resolution discussions while the other person is off guard. Take advantage of these situations to save time and money. Flash Negotiations often yield the best possible deal available.
How does flash negotiating work?
To be able to deploy Flash Negotiations one must be able to draw upon his or her experience reading people, understanding the specific situation, knowing the background facts and understanding what they are prepared to do to make the deal. Armed with a strong base of experience and people skills, an aware negotiator commences the research interview. As the discussion develops, the other person may signal that he or she is receptive to an offer, is caught off guard, wants quick resolution, or is up to speed and prepared to discuss the matter.
Any of these signals presents an opportunity for Flash Negotiations.
If you are prepared to open negotiations, take the initiative and make a low but realistic offer. Tender as low an offer as you think will be received without shutting off the dialogue.
If the other person counters the offer or asks for more information you will know that the opportunity exists for a Flash Negotiation. His counter will set the parameter of the bid / ask and you can typically assume that the negotiation will end up at the median of the bid and ask. In a flash negotiation I often move quickly to that median point and use the swift pace of the negotiation as a reason to acknowledge the other person's professionalism, insight and forthrightness.
If you are ready to deploy Flash Negotiations as a tactic you will typically find that you will secure better terms and save time by doing so. As you have initiated the dialogue, you should be in control of the facts, be better prepared, and have the negotiating advantage while the other person has had little time to assess the situation.
When to use Flash Negotiations:
-When more time benefits the other person.
-When time is critical to your cause.
-When you know what you are willing to spend.
When Flash Negotiations may not be appropriate:
-When you aren't sure what your initial offer should be.
-When you do not know what you are willing to spend.
-When time is critical to the other person.
-When you are not prepared.
-When you do not have the authority to commit to the terms.
Develop the discipline to be alert and ready to deploy Flash Negotiations and you will be more effective as a negotiator or mediator.