WELCOME TO THE LAUNCH OF KCW ENTERPRISING WOMEN’S CLUB Hosted by Diane Shawe M.Ed
25th March 2014
Theme for Event No Random Acts of Lunch
TABLE OF CONTENTS Contents Agenda _____________________________________________________________________________________________________1 10 steps to hone in your negotiation skills _____________________________________________________________2 1. Do your Research _______________________________________________________________________________________3 2. Focus on your priority _________________________________________________________________________________4 3. Identifying Your Walk Away Position (WAP) _________________________________________________________5 4. Identifying Your Best Alternative to a Negotiated Agreement (BATNA) ___________________________6 5. Working Within the Zone of Possible Agreement (ZOPA) ___________________________________________7 6. Getting Everyone’s Perspective _______________________________________________________________________8 7. Developing a Sustainable Agreement? ________________________________________________________________9 8. Resolving Power Struggles __________________________________________________________________________ 10 9. Detach yourself from the outcome __________________________________________________________________ 11 10. Know your Role and Value _________________________________________________________________________ 12 Evaluation & Confirmation of Voucher ________________________________________________________________ 13
AGENDA Agenda
Welcome & Registration About Enterprising Women Bev Hurley Founder No random Acts of Lunch by Diane Shawe Host Future events Networking
Thank you all for joining us at our launch. This is the first of many and we hope you will join us in making future events useful, constructive and above all engaging and enjoyable. If you would like to register for our next event or become a member of Click here if you would like to join the KCW Linkedin group Click here To find out more about Enterprising Women and become a member Click here
Diane Shawe Host of KCW Enterprising Women’s Club
Page 1 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk
10 STEPS TO HONE IN YOUR NEGOTIATION SKILLS 10 steps to hone in your negotiation skills The people who are most successful at business development do not commit “random acts of lunch.” For example, less successful women sales people, upon hearing that the best friend of their college roommate just became chief of procurement at a company, rush to have a chat over coffee or an impressive lunch with that person and “try to drum up some business.” Successful women’s sales people recognise that such “random acts of lunch” are not usually successful and therefore not a good use of utilsiing your time and the hourly costs you need to make to secure your monthly income. To achieve a successful business relationship ask, “Where am I going to focus my marketing efforts at this meeting or over the year?” and then translate your answers into a written plan. Are you a bargainer or a Negotiator? Negotiating is less about confrontation and aggression than it is about flexibility and innovative thinking. Where as bargaining can lead to lots of problems which may not result in a win-win outcome. Although people often think that negotiating is the same as bargaining, it is not. Negotiating is a process, and bargaining is one stage of that process. There are three other stages of negotiating, and even those are tempered by timing, intuition, and flexibility to the process. We are going to set out some of the real nuggets you should put in place to establish a firm ground for all considerations.
(Adapted from Shell, Richard: Bargaining for Advantage: Negotiation Strategies for Reasonable People, Penguin, 1999) So let’s take a look at 10 positive habits you should implement before presenting your services or product.
Page 2 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk
1. DO YOUR RESEARCH 1. Do your Research When doing research and preparing for negotiations, there are three important considerations: Collecting facts Knowing priorities Knowing principles
The facts that you collect are all the direct and indirect information that you will need to back you up during negotiations. With access to information today, it is a much simpler task than ever to accumulate all kinds of data and statistics. For example, if you are preparing to purchase a vehicle or a house, plenty of information is available, such as comparable properties and prices. If you are preparing to negotiate a raise, or are negotiating salary increases at work, then comparable wage statistics, the history of the organisation and its mission and values, previous experiences in the collective bargaining process, and strategic plans are all important concepts to understand.
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2. FOCUS ON YOUR PRIORITY 2. Focus on your priority Knowing priorities means having a good understanding of what you want from the negotiation. You also need to know what the other party wants. Understanding your principles, both as a negotiator and as an individual, will help you to form and present a case that is compelling and believable. Understanding the principles of the other party can also be very helpful to you. A little more research can help you to understand what the organization’s beliefs are, how they have approached previous negotiations, what terms seem to be more important to them than others, and what terms they could be willing to be flexible with.
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3. IDENTIFYING YOUR WALK AWAY POSITION (WAP) 3. Identifying Your Walk Away Position (WAP) When you establish your priorities, make sure you have a clear understanding of your Walk Away Position (WAP). What is the least that you will accept (or the highest price that you are willing to pay)? Establish your WAP value in your mind and keep it clearly available so that you do not get caught up in the heat of negotiating, either ending up with something you never wanted, or turning down a deal that was better than your WAP. If you are negotiating on someone else’s behalf, make sure that you know their WAP so that you do not make any mistakes in negotiating for them.
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Page 5 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk
4. IDENTIFYING YOUR BEST ALTERNATIVE TO A NEGOTIATED AGREEMENT (BATNA) 4. Identifying Your Best Alternative to a Negotiated Agreement (BATNA) In addition to your WAP, you also need a Best Alternative to a Negotiated Agreement (BATNA) in your plan. Sometimes an issue can be settled before the bargaining phase begins if it meets your criteria as a BATNA. For example, if you are planning to purchase a home – which is often a very emotional decision – and the realtor comes to you with an offer that you can live with, and you get the home you want without having to participate in any heavy bargaining or entering into a price war, then you may have reached your BATNA. Not all negotiations have to be bargained; sometimes, when you negotiate, you can lose the opportunity to get what might have been a BATNA if you had not been after such a bargain.
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Page 6 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk
5. WORKING WITHIN THE ZONE OF POSSIBLE AGREEMENT (ZOPA) 5. Working Within the Zone of Possible Agreement (ZOPA) The Zone of Possible Agreement (ZOPA) is an area of overlap where the desired outcomes of both parties reside, and where both parties can live with the outcome. Once you reach a ZOPA, the finer details need to be worked out within the scope of what both parties have already found is potentially working for them. For example, if your business forecasting allows for a 2% salary increase each year for the next three years, and similar companies in your industry are offering the same, and the union is asking for 7% over four years, then you may be within the ZOPA. In general, there are three possible outcomes to a negotiation.
Lose-Lose Win-Lose Win-Win
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Page 7 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk
6. GETTING EVERYONE’S PERSPECTIVE 6. Getting Everyone’s Perspective Gathering perspective is something that can take place throughout the negotiation process. It begins in the research phase, where the negotiator considers the needs of the members of an organization in conjunction with the strategic vision and mission of the negotiation. This does not mean that everyone will get what they want in an agreement; rather, it means that all points of view are considered. There is no point in entering negotiations and reaching an agreement that ignores a section of stakeholders or breaks the law. Gathering perspective can be a considerable undertaking, depending on the size and scope of the operation. This is one area where outside resources can be utilized (an outside firm conducting employee satisfaction surveys, for example).
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Page 8 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk
7. DEVELOPING A SUSTAINABLE AGREEMENT? 7. Developing a Sustainable Agreement? In this age of complex life and work arrangements, a sustainable agreement can be said to reflect the reality of the business. An agreement cannot be a rigid reflection of ineffective negotiations; rather, it must reflect the reality of business and economic cycles, industries, and real issues that people face. It must also reflect the multiple aspects of the stakeholders who both provide input, and are affected by the results. An agreement also cannot focus on one aspect of the business when the business impacts other industries, cultures, or linguistic groups. In developing a sustainable agreement, the partners must ensure that, first of all, the organizations that they negotiate on behalf of are interested in having an agreement. Partners must also ensure that negotiating organizations will enforce and take part in the terms of that agreement. If the agreement cannot stand on its own, and the parties who sign it refuse to use it, then the paper it is printed on is useless. A sustainable agreement really does incorporate feedback from all stakeholders. Although we will never always agree with other people, and although we can write an agreement much more quickly than we can negotiate the terms of one, an agreement is just that, an agreement.
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Page 9 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk
8. RESOLVING POWER STRUGGLES 8. Resolving Power Struggles Negotiating has a lot to do with power. You may find yourself drawn into a compelling conversation that becomes a struggle for power between you and your counterpart. You will have to remind yourself that the negotiation is a process and what your priorities are. The outcome is not personal, and you needn’t get drawn into a power struggle. If you notice that the tone of conversation changes and a power struggle is taking place, one very fast way to disarm it is to take responsibility for it. You can try a statement like the following: “Do you mind if we pause for a few moments? I can feel myself taking your last few statements personally and I can feel my heels digging in. Please accept my apologies. Do you mind if we take a short break, and then we can go over this point again once I have had a chance to clear my mind. Perhaps we can try to approach it from a different angle?” You do not have to mention that you feel the conversation becoming a power struggle. Simply acknowledge the change in tone within the meeting, and then take a moment to collect yourself and regain composure as you move forward. In most cases, the break you put into the conversation may be enough for your partner to also review their approach and consider an alternative.
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Page 10 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk
9. DETACH YOURSELF FROM THE OUTCOME 9. Detach yourself from the outcome The outcome of this negotiation is not about you personally. If your side wins or loses, you do not become a winner or loser. Very few negotiations actually involve life or death issues. Keep your feet squarely on the ground by realizing that, as a negotiator, your job is to lead people through a process, not to win. Try to think of it in terms of four potential outcomes. 1. 2. 3. 4.
The two of you do not reach an agreement, and the negotiation ends. Your counterpart will agree to your terms. You will agree to your counterpart’s terms. The two of you will compromise on some point in between your positions, perhaps closer to your terms and perhaps not. In some situations, you have the potential to reach the agreement that you wanted. In other outcomes, both parties may leave unsatisfied. Sometimes not reaching an agreement is the best outcome. (You walk away from a deal with your bank account or integrity intact.) At other times, it is the worst arrangement. (Now, how will you get someone out to fix the service elevator by Friday?)
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Page 11 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk
10. KNOW YOUR ROLE AND VALUE 10. Know your Role and Value Creating and claiming value are at the heart of the negotiating process. Creating value means that we can develop effective and creative solutions that meet the needs of everyone involved in the negotiation. In negotiation terms, this is commonly known as “expanding the pie.” Claiming value refers to the size of the piece of the pie we receive as a result of negotiation. Many negotiators can do a good job at either creating or claiming value, but not both. Master negotiators do an excellent job of striking this balance by having a good understanding of the interests of both parties, and by identifying common ground, rather than simply aiming for a target and not allowing for any flexibility. When you are negotiating, check your personal baggage at the door. Think of the things that might be on your mind as you prepare for negotiations.
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Page 12 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk
EVALUATION & CONFIRMATION OF VOUCHER Evaluation & Confirmation of Voucher Name……………………………………………………………………………………………………………………………………….. Contact Details…………………………………………………………………………………………………………………………. Email……………………………………………………………………………………………………………………………………….. Company Name………………………………………………………………………………………………………………………… Please tell us how you found the event
Please tell us about any ideas for topic you might have on future events
Please would you make a recommendation or testimonial>
May we use your testimonial on our website yes [ ] no [ ]
Signature……………………………………………………………………… Dated………………………………………………………
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ABOUT DIANE SHAWE M.ED About Diane Shawe M.Ed KENSINGTON, CHELSEA & WESTMINSTER BUSINESS CLUB Contact the host: diane@expresstrainingcourses.co.uk
Enterprising Women are proud to announce that we have launched a new business club in Kensington, Chelsea Westminster. If you have a business in the area, please register to find out the latest information about joining us at this exciting event. Host, Diane Shawe, kindly welcomes all women to come along and be a part of something unique! "We are living in exciting times with lots of changes and opportunity. Applying crucial relationship building tactics and maintaining those relations is a skill. To gain consistency in business failure to persist and be responsive does not help to manage expectations, so I hope that this group will be more than support and entertainment. I will strive to make sure that our club is effective, constructive and dynamic." Kensington, Chelsea & Westminster Business Club is about you. We will draw on the expertise of existing clubs around the country, but look forward to evolving the Club to meet the needs of its members, whether you have decades or months of experience and whatever sector your business is in. Women make an important contribution to business in the region and to the region’s economic future and having a community in which this can be celebrated and nurtured will further strengthen this contribution. As a founder and CEO of two successful Training Companies based in London and Luxembourg I have built the company from a standing start in 2003 to a globally recognised training provider with an impressive year on year growth. I have a wealth of knowledge and experience across multi-disciplines that could be applied to other organisations in a nonexecutive role. As well as taking an active role across all areas of my businesses I am also committed to a number of prestigious and influential Committees and Memberships. Diane Shawe
Page 14 Academy of Vocational & Professional Training Ltd – 0203 551 2621 diane@expresstrainingcourses.co.uk