O'Reilly logo

Practical Negotiating: Tools, Tactics & Techniques by Tom Gosselin

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Categories of Currencies in Negotiation

Let’s push the thinking on currencies even further by suggesting some different categories. Because currencies of exchange are synonymous with resources, they can be tangible (e.g., money, equipment) or intangible (e.g., recognition, time). Here are some examples of currencies:

  • Financial: Even though money is considered prime, there are many ways other than price/rate to directly contribute to the bottom line in a negotiation such as volume discounts, lower rates with a longer term contract, extended payment terms, leasing options, or rent-to-own. When dealing with employees, financial currencies can include salary, bonus, overtime, budget discretion, commissions, tuition reimbursement, vacation time, conferences, or professional meetings.

  • People: This may include loan of staff, consulting services, your own willingness to participate and work side by side with the other party, dedicated personnel, technical assistance in implementation, administration, or help with regulators.

  • Facilities: You may own a facility, co-locate equipment, host a test or demonstration site, or agree to serve as a storage facility or parts depot.

  • Equipment: Equip facilities through purchasing, borrowing in the start-up phase, providing a replacement if equipment can’t be repaired in a timely fashion or extra equipment during peak periods.

  • Priorities: This may include a willingness to accelerate installation, swap a deadline or priority with someone else, or longer ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required