#BusinessNegotiator

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Engaged in Learning: The Online MBA Journey at DY Patil University

This image captures a dedicated individual engaged in an online learning session, possibly part of the DY Patil Online MBA program. The setting is a well-organized study space featuring a laptop, which is likely to stream an educational lesson, as indicated by the whiteboard with “LESSON 1” written on it. A notebook and pen are in use for taking notes, suggesting active participation in the lesson.

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Beyond the Price Tag: How Risk Shapes Negotiations

Introduction In the realm of negotiations, price often grabs the spotlight. However, there’s another critical factor that plays a significant role: risk. The interplay between price and risk can shape the outcome of negotiations in profound ways. In my years of professional work, I must have negotiated thousands of supply agreements. Over time, I grew to understand the deep interconnectivity of…

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https://www.lloydlawcollege.edu.in/blog/how-to-negotiate.html

Master the art of negotiation with our comprehensive guide, packed with practical tips and strategies. Whether you're navigating business deals, salary discussions, or personal matters, empower yourself with the skills to communicate effectively, build rapport, and achieve mutually beneficial outcomes. Unlock the secrets to successful negotiation and elevate your influence in every aspect of life.

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Expert Talk Series Live Session on this Friday, 22nd Dec, 2022 at 5 PM IST with Niranjan Goyal on Importance of Negotiations in Any Business. We will also attend a live Q&A. You can also submit your questions in the comments of this post as well. See you in Live Talk. Click here, do like and turn on live notification now to join our session https://youtu.be/rXiRfxCC-hk . #Negotiation #Podcast #Expert #NiranjanGoyal #career #guidance #NegotiationSkills #BusinessNegotiations #ArtofNegotiations #postAresume #VipulMMali #ExpertGuidance #VipulTheWonderful #ExpertTalk

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Effective Negotiation Techniques | Negotiation Techniques And Strategies

Bright Focus explains personality types and negotiation techniques to help you. Finding the right technique and strategy may be different for each personality type - but it’s worth doing because knowing how your own personality types work can help you achieve success in business.

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#StartupLearningSeries - Business Negotiation In most of our #BusinessNegotiations, #startups try to drive a hard #bargain, giving away not a penny more than is necessary even as they strive to ensure that our counterpart is satisfied with their own outcome. However, the #BusinessRelationship is compromised. Figuring out who should get what is rarely easy, but #CreativeSolutions to #problems in #negotiation do exist. Approaching business negotiations with a #CreativeMindset will not only preserve a #relationship but also add significant value for both sides creating #WinWinSolutions. This comprehensive and highly practical learning series will equip participants with the right skills and multiple #NegotiationStrategies for better business relationships and grow. Register Now! Registration Link in Bio https://www.instagram.com/p/CGNIIKnj74a/?igshid=v0hj4r6r8cko

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Winners may be losers!

When negotiating selling/buying a business, both seller and buyer could end up losers

By Dave Driscoll

During my career in business, both as an owner and advisor, I have learned to keep the big picture and the road to that vision clearly top of mind in my decisions. “What is my desired outcome? What is my long-term objective? How do I get there?”

Being a professional M&A broker advisor, I interact with buyers and sellers daily. My mission is to achieve the seller’s goals when exiting their business, as well as to fulfill the buyer’s desire to own a profitable business. Balancing each parties’ interests can be challenging, especially when one party has the attitude they must “win” the contest over the other. I have seen many a party not achieve their objective -the sale or purchase of a good business - due to the must win attitude. That singular focus on winning the current “round” instead of looking at the big picture leads to the deal evaporating. Future opportunities are lost that could have benefited both parties in a more balanced negotiation.

What drove me to start my first business was a passion for what I was doing. I was selling a consumable product that my employer manufactured according to each customers’ specifications, and that customers needed to reorder repeatedly because it was a critical part of doing business. The relationship between the supplier and the customer was ongoing, offering the opportunity to build long-lasting relationships. Likewise, my vision for my future was to own a business manufacturing a consumable product that was the basis for long-term customer relationships. That was my “big picture” and the specific product mattered less to me than the framework of reoccurring revenue and connections.

Without money to purchase a business, I decided to just start my own. Initially, I brokered the consumable product through wholesale manufacturers; I was a professional salesman - a manufacturer’s representative who took title to the product I sold. When I started, I had no customers, just a vision of what I wanted my life to look like… my destination.

Working hard, seizing opportunities, responding to the pulse of the market, and expanding into manufacturing capabilities as demand for product grew, ultimately led me to living my ideal vision for my career and lifestyle. Along the way, I achieved huge successes along with major disappointments – that’s an inescapable part of being a business owner. There are no guarantees and assuming risk is the price of ownership. Ultimately, reaching my vision came from learning to succeed more often than I failed. I never kept score in some imaginary competition with others. I just kept visualizing where I wanted to be and taking logical steps in that direction.  

Failing to develop a long-range vision and to keep all eyes on that destination has caused many buyers and sellers to miss their “big picture” (and big opportunities) by only focusing on winning here and now. Not compromising to a common middle ground when negotiating a business sale or purchase results from letting the ego overshadow the vision of what you are striving to achieve.

Too often, sellers and buyers are short-sighted about negotiations instead of considering how their lives will change post-sale. Both parties in a business transition need to weigh the significance of those last few dollars or percentages as it relates to their overall goals.

From the buyer’s perspective… how long will it take me to recoup the amount I give up to get the deal done? Three, six, 12 months, or longer? Under my ownership and fresh energy, is the company likely to perform better and shorten that timeframe? Does acquiring this company support my future vision of myself and my lifestyle? Is the ongoing potential outcome (and income) worth more than what I concede?

From the seller’s position… how strong is the pull from my life beyond business?™ What value do I place on time with family (grandchildren!), travel, less daily responsibility, fewer obligations, and time for volunteering and hobbies? Or maybe just the option for leisurely reading a book? Is there a different career I want to explore? Is the amount I sacrifice worth more or less than those pursuits?

Advancing toward your ambitions should be the focus for both buyer and seller, not competing for the last nickel and a tick mark in your personal win column! In pursuit of the win, you could quickly become the biggest loser.

Dave Driscoll is president of Metro Business Advisors, a mergers & acquisitions, valuation and exit/succession planning firm helping owners of companies with revenue up to $20 million sell their most valuable asset. Reach Dave at DDriscoll@MetroBusinessAdvisors.com or (314) 303-5600.  www.MetroBusinessAdvisors.com

As seen in Dave's column in St. Louis Small Business Monthly

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Did you know that even non-interested third-party actions can have a major impact whilst negotiating? You might think they can be impossible to manage. But there are ways to challenge third parties: one of them is to contain their activities within a time frame where their effect will be minimised.

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Knowing How to Negotiate: Essential Strategies for DY Patil Online MBA Candidates

Salutations, prospective business owners! One of the most crucial skills that students in the DY Patil Online MBA program will acquire is negotiating. You can excel in both your personal and professional life with this important talent. Let's look at some key strategies that will ensure you have the resources necessary to bargain successfully.

Recognizing Successful Negotiation

Before diving into advanced techniques, it's important to grasp what makes a successful negotiator:

Competent negotiators listen more than they talk. It is essential to comprehend the perspectives of those who hold opposing views.

Extensive Planning: They come prepared with a clear plan and all the necessary data.

Strategic Flexibility: They can recognize when to give in and when to resist.

Strive for Win-Win Results: The most skilled negotiators look for solutions that are advantageous to all sides.

The DY Patil Online MBA program places a strong emphasis on these core characteristics since they are the foundation of successful negotiation.

Getting Ready for Amplified Discussions

Preparation is necessary for successful negotiating. To ensure that you are ready, take these steps:

Recognize Your Worth: Before you join the discussion, decide what your ideal aim is and what your minimum acceptable outcome is.

Perform Detailed Research: Recognize the parties to the negotiation. What are their objectives and limitations? How can you help them?

Practice Often: To improve your abilities and get ready for a variety of scenarios, role-play negotiating with coworkers or pupils.

Formulate a Model Recoverable Plan: Always have a fallback strategy in place in case the negotiation doesn't go as planned.

Retain Emotional Mastery: There may be a lot of intensity in negotiations. Keep your cool to enable you to make informed decisions.

Successful Bargaining Strategies

Utilize these techniques to strengthen your negotiating position:

The Flinch: React with surprise when presented with an initial offer. This can prompt the other party to adjust their proposal.

The Silence: After receiving an offer, remain silent. The discomfort of silence might lead the other party to sweeten the deal.

The Nibble: Once the main agreement is settled, request small additional benefits. Often, parties are willing to grant these to close the deal.

The High Ball/Low Ball: Start with an extreme offer to set the stage. This tactic can help you achieve a more favorable outcome that is closer to your actual goal.

The Virtuous/Violent Cop: When negotiating as a team, employ opposing tactics: one member should be assertive while the other adopts a more polite approach.

Real-World Examples of Successful Negotiations

Here are a few motivational instances of successful negotiation:

Success in Salary Negotiation: By citing industry averages and her distinct credentials, a DY Patil Distance MBA graduate was able to secure a 20% increase in her starting pay.

Successful Merger: By concentrating on long-term advantages, two rival tech businesses, managed by DY Patil Online MBA grads, turned a possible hostile takeover into a strategic merger.

Supply Chain Innovation: During a global supply chain crisis, a DY Patil Online MBA student secured essential components by offering flexible payment terms, proving the value of creative solutions.

Common Pitfalls to Avoid

Even seasoned negotiators can falter. Here’s what to avoid:

Personalizing the Negotiation: Keep discussions professional and focused on the issues at hand.

Using Ultimatums: They can corner you and may lead to a breakdown in negotiations.

Being Dishonest: Honesty is important since lying can harm your reputation and prospects.

When negotiating with yourself, you should never change your terms; instead, you should always wait for a counteroffer.

Utilizing Technology for Bargaining

In the era of digital technology, negotiations take place virtually.

 DY Patil Online MBA students should be familiar with these tools:

Video Conferencing Software: Useful for observing non-verbal cues and conducting remote negotiations.

Collaborative Document Platforms: Allow for real-time updates and collaboration on agreements.

Digital Whiteboards: Facilitate brainstorming and visual planning.

Contract Management Software: Helps in tracking and managing agreement terms effectively.

The Art of Compromise

Successful negotiations often involve finding common ground. Here’s how to achieve it:

1. Identify Common Interests: Focus on areas where both parties’ interests align.

2. Trade Less Critical Items: Offer concessions on less important issues in exchange for key gains.

3. Consider Long-Term Benefits: Sometimes short-term losses can lead to significant future gains.

4. Be Creative: Explore unconventional solutions that satisfy both parties’ needs.

Wrapping Up Your Negotiation Journey

Utilize these strategies for bargaining in assignments, internships, and practical situations as you go through the DY Patil Distance Learning MBA program. Negotiation is a skill that can be developed via experience, and the skills you pick up now will come in very handy later on. Skilled negotiators are made, not born. With the information and techniques from the DY Patil Online MBA program, you're well on your way to being an expert in this important business skill. Accept these strategies, apply them regularly, and watch how your ability to negotiate transforms your professional and interpersonal connections.

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Many people think negotiation skills are some innate talent, but it's not true. 

 Watch 3 Simple Tips Video Here >>> http://bit.ly/2LqFElq

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Negotiation In Life

Negotiations are very important part of our everyday life. Whether it be personal or professional, negotiating is something we all do. It is important to always be educated, perform your research, and always be prepared to listen to all aspects of the conversations. You have to be open to negotiate, new ideas, resolution suggestions, and even giving up things you don’t want. Just remember in negotiations you will not always win, but trying and proposing is not always a negative thing. 

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Business Negotiations | Business Negotiator

Business negotiation is vital to the success of any business. If a deal goes sour, you might lose customers or even your job. If negotiating skills are used properly, you can make the other party welcome your business and show them why doing business with your company will benefit them as well!

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Find out what you need to navigate a successful business negotiation, ensuring the best outcome for your side while maintaining optimal relationships with those across the table. 

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Negotiations: Simple Ways Small Business Owners Can Close More Deals https://goo.gl/YG3Zdy negotiations"

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