Advanced Negotiation Skills for Financial Services Professionals

Prepare to Negotiate

• This advanced negotiation skills masterclass starts by assessing why we negotiate

• Where races are won – and lost

• What does Win/Win mean?

• Planning negotiation outcomes

• What will  they  be planning?

• Hard and soft outcomes

• Seeking the easier routes

• Preparation for specific scenarios

Exercise: Pairs exercise – looking for the mutual benefit

Interests and Positions

• Describing their positions

• Connecting with interests

• Describing our positions and interests

• Looking for strengths and weaknesses

• Outlining walk-away status

• Describe your best alternative to a negotiated agreement (BATNA)

• Consider how to use your BATNA

• Wrapping up this section, the balance of power is considered, ahead of the next exercise

Advanced Negotiation Skills Training Exercise: Practice preparation in pairs – your next negotiation

Becoming Advanced Skilful Negotiators

• Who do you like negotiating with?

• Creating the right first impression

• Building rapport and connection

• This advanced negotiation skills training course covers the power of questions

• Questioning personal negotiation styles and types

• Listening to skilful negotiators

• Flexing and re-positioning

• Re-framing for your outcome

• Why should they?

Exercise: Questioning skills for positions & interests

Negotiating with IMPACT

• Structured negotiating with clients

• Applying skills to situations

• Questioning with confidence

• Understanding their positions

• Looking for alternatives

• Asking for what you want

• Seeking solutions using benefits

• Identifying “sticky” points

• Advanced negotiation skills training moves you directly towards the best solution

Exercise: Negotiation practice in small teams, with feedback

Techniques for 'Tough Going'

• The most powerful words

• When to stay and when to go

• The 'Columbo'

• Testing their desired outcome

• Face to face/phone/email/other?

• Persuasion: better than telling

• What does “no” mean?

• Deadlines and concessions

Example: Application of Advanced Negotiation techniques to a range of situations

Improving Negotiation Skills with Practice

• Interactive exercise/scenario

• Implementation of learning

• Developing through feedback

• Learning through watching and doing

• Identification of individual learning points

• Concludes with the win/win model of negotiation in practice

Advanced Negotiation Skills Course Exercise: The Deal – team/pairs exercise with feedback

Handling Objectives and Objections

• Practical application of tools and techniques

• The power of the 3-minute presentation

• Opportunity for preparation and practice

• Individual feedback

• Audience participation

• Building confidence in you and your audience concludes advanced negotiation skills training for finance professionals

Course Conclusion

Training Objectives

This highly interactive advanced session is suitable for professionals working in both finance and industries, where everyday negotiation with clients, colleagues and business partners, is standard.

Throughout this advanced negotiation skills course, participants will:

• Examine their own negotiation skills levels

• Consider how they prepare for negotiations

• Describe what the win-win model of negotiation means for them

• Use the win/win model to plan levels of negotiation outcomes

• Describe the best ways of dealing with clients of all types

• Describe the skills to enable mutual benefit

• Use the IMPACT model to structure negotiations

• Consider a range of techniques for handling difficult negotiations

• Know when to stay and when to walk

• Practice negotiations to develop new skills

• Receive individual feedback to enhance their performance

• Negotiate against the clock to balance time and outcome

• Demonstrate how to maintain good relationships while winning business

• Demonstrate how to negotiate improved outcomes for themselves, their clients and business partners is covered in our advanced negotiation skills masterclass

Training Course Summary

You negotiate every day, but the biggest often have far-reaching implications. To handle those, you need to understand what to do, what to say and where you want to be. As with many successes in life, it is the work in advance that wins the day. In this advanced negotiation skills course, you are provided with the tools and techniques for both preparation and meetings, calls or messages.

Using a structured approach to negotiating is where confidence is built and developed and where reviews prove more effective (as improvement areas are easily identified). In a skills area like negotiation, there are no limits and this is why a flexible yet practical approach will help you improve.

Much of your success will depend upon mindset: you can influence your own even if you cannot always control other people. Being prepared to be flexible can be planned and is something we’ll cover during this advanced negotiation skills training session.

Most advanced negotiators develop habits and traits which work for them, but, over time, tend to come down to a small range of behaviours and habits. In this advanced session, we help participants evaluate habits and mindset whilst identifying new, professional and flexible approaches.