Practical Negotiating: Tools, Tactics & Techniques

Key Points

	Currencies are tangible or intangible resources that are perceived to have value by the receiving party.
	Types of currencies: - Prime: Usually money or the central focus. - Alternative: Things that one party has that might meet the needs of the other party. - Elegant: Currencies of high value to the receiver, but with low cost to the provider.
	Categories of currencies in negotiations:
	- Financial - People - Facilities - Equipment - Priorities	- Information - Recognition and rewards - Proprietary agreements - Mitigation of risk
	Currencies in complex selling situations:
	- Purchasing - Inbound logistics - Operations	- Outbound logistics - Marketing and sales - Service
	Concessions are defined as giving any or all of a currency.
	Key considerations in making concessions: - What will the other party infer from my concession? - When should I make a concession? - How much (or what size) of a concession should ...