6. Controlled Descent – Closing / Concession

You opened strong — but if you set your range correctly you must plan on making concessions and compromises.

The ability to guide the concession phase defines good negotiating.

To open high takes a little planning and a lot of backbone, but to strategically concede and compromise requires judgement, technique, and self control.

Have a rationale for every offer and every concession.

If you drop or raise your price by 20% for no reason, your counterparty may think you were trying to take advantage with your opening offer — undermining trust.

Tie your concessions to a logical adjustment in your offer to prove that you have limits.

Example:  I can accept the 10% higher price, but I expect you to give me a written 6 month guarantee and have your most experienced technician to install the unit and train our staff.

Prepare an opening style, a final style — and have a roadmap for getting there.

RULES of CONCESSIONS:

Don’t hold your anchor position too long. 

What is your motivator — fear or hope?

No unilateral concessions.

No secret concessions (i.e.: giving up your opening because he anchored. )

No apologies

Justify your opening and new offer.

Download the slideshow:
Concession Theory –
3 Approaches to Tactical Compromise

Goblin-seated-antiqued

 

Value Manipulators

Chap 7:  Conflict Management

Tactics Database

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