The Importance of Negotiation Preparation

<p>Planning in negotiation is a crucial element that we may often forget the importance of. Today’s guest—Paul Watts—believes planning is THE single most important element of a negotiation. He notes that 80% of success comes from extensive planning. In this episode of <em>Negotiations Ninja</em>, Paul and I talk about negotiation through the lens of a salesperson, the cost of inaction, and techniques to improve your negotiation skills. </p> <p>Paul Watts is a Sales Performance Coach with Base Over Apex and host of the ‘Sales Reinvented’ podcast. His mission is to change the negative perception of salespeople and make selling a profession to be proud of. His goal is to help sales professionals be more effective to be able to live life on their own terms. Listen to this episode for a deep-dive into negotiation from the perspective of someone who’s been in sales for over 20 years.</p> <h2>Outline of This Episode</h2> <ul> <li>[3:19] Paul Watt’s background in sales and podcasting</li> <li>[4:51] Planning is the most important element of negotiation</li> <li>[7:36] Present the cost of inaction and the return on investment</li> <li>[11:11] The best way to improve your negotiation skills</li> <li>[14:37] A negotiation techniques Paul employs regularly</li> <li>[20:11] Role models and styles Paul embraces</li> <li>[21:51] What happens when a negotiation goes downhill</li> <li>[29:49] Paul advises to embrace a learning mindset</li> </ul> <h2>Resources & People Mentioned</h2> <ul> <li>Gary Vaynerchuk’s <a href="https://4ds.thesashagroup.com/" target="_blank" rel="noopener">4Ds Program </a></li> <li>BOOK: <a href= "https://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555" target="_blank" rel="noopener">Thinking, Fast and Slow</a></li> <li><a href="https://americannegotiationinstitute.com/about/" target="_blank" rel="noopener">Kwame Christian</a></li> <li><a href="https://www.linkedin.com/in/patrick-tinney-903556145/" target="_blank" rel="noopener">Patrick Tinney</a></li> <li><a href="https://www.danshapiroglo