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Practical Negotiating: Tools, Tactics & Techniques by Tom Gosselin

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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 ...

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