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Practical Negotiating: Tools, Tactics & Techniques by Tom Gosselin

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Step 3: Currencies/Options

Currencies are essential to the negotiation process (see Table 12.3). To determine which currencies you might offer, consider what you know about their needs and what currencies you might offer to meet those needs. Be sure to determine the “street value” of the currencies you offer. To predict what they might offer, consider your needs and what currencies they could offer to meet those needs. Remember the three currency types: prime, alternative, and elegant. In Chapter 4, we expanded your view on currencies and provided some guidance on how to make concessions.

Table 12.3. Currencies/Options
Your SideOther Side
Considering what you know about their needs, what currencies might you offer to meet those needs?Considering my needs, what currencies might they offer to meet those needs?

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