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Negotiations Skills  >  Courses

Fee Negotiation Skills

Training course in Financial Negotiation Skills

Learn how to negotiate win/win deals where price is a key factor

One-Day Course

Course Brochure Download
Fee Negotiation Skills brochure
  • Acquire methods for approaching fee or price negotiations with confidence and composure
  • Learn how to use ‘positive messages’ to resist unfair pressure
  • Discover a simple yet powerful four-step method for running a negotiation meeting

Overview

This fast paced, interactive one-day workshop is designed to give participants a firm grasp of the key aspects of effective fee negotiation. Success in this area isn’t about methods for fooling someone into paying our preferred price but rather is about developing a clear, concise, evidence based explanation of what makes our proposition value for money. The workshop covers powerful influencing skills for building great relationships with the other party and explains how to apply a rigorous planning and ‘meetings management process’ to those deals where price or fees are a key component.

Learning objectives

By attending this highly participative one-day course you will:

  • Gain an insight into how to establish the ‘true value’ that is being offered as part of the deal
  • Understand the importance of ‘pre-framing’ in a fee negotiation
  • Acquire a ‘toolbox’ of nine tried and tested influencing skills
  • Discover how to build a sense of agreement and collaboration into a meeting
  • Master an elegant four stage process for planning a negotiation

Who should attend?

People who want to (a) understand the specific issues that can arise in respect of fees and pricing in negotiations and (b) review methods for dealing with them.




Day 1

The psychology of fee negotiations

Understanding that what is going on inside a person's head (their state of mind) is crucial to good performance. Here we consider the beliefs and values of experts at negotiating pricing issues.

  • Examining your current beliefs about fee negotiations
  • Reviewing expert thinking

Pairs exercise: applying the ‘affirmation’ technique

Price negotiation strategies

Developing the ability to hold firm on price and to create the context for asking for price increases.

  • Creating a Value Proposition
  • Assessing market forces
  • The power of pre framing: "No surprises"
  • Delivering the Value Proposition

Pairs exercise: Pairs exercise: developing value propositions

Influencing skills

The ability to influence and persuade is the key competency of skilled negotiators. Here we cover the most vital influencing tools. Mastery of this skills toolbox, which is based on NLP (Neuro Linguistic Programming) concepts, allows expert negotiators to conduct face-to-face meetings with elegance and precision.

Needs definition

Asking high quality questions based on the Logical Levels Concept that map out precisely what the other party's needs and requirements are. Methods covered include:

  • The hierarchy of ideas
  • Moving up logical levels
  • Moving across
  • Moving down
Yes sets

Using 'summarising' and 'behaviour labelling' to build a history of agreement into the conversation.

  • Summarising
  • Behaviour labelling
Sending positive messages

Using assertive tools combined with NLP techniques to put your point of view across in a firm, persuasive and courteous manner. Methods covered include:

  • Three step technique
  • Matching and leading values
  • Assertive broken record technique

Pairs exercise: applying the influencing skills to price negotiation scenarios

The negotiation planning process

Looking at the negotiation planning process as it applies to fee or price negotiations. This involves gathering some facts and setting out the goals for the negotiation. Once this has been done, specific targets can be set and the plan for the face to face meeting developed.

  • Collecting the evidence (organising the facts)
  • Stakeholder analysis (identifying the key decision makers)
  • Position perception (learning how to identify your own goals and how to step into the other person's shoes so you can anticipate their demands)
  • Agree the strategy for the negotiation (understanding the ‘settlement range’)

Case study: planning a price negotiation

The Boulden ‘Deal Making’ Meeting Process™

To run the actual face-to-face meeting we begin by agreeing the outcome for the negotiation and what topics should be covered. We then explore what importance each side attaches to each topic and make proposals as to how agreement can be reached. Once an acceptable proposal has been put on the table we close the negotiation, record outcomes and monitor the results over time. The four steps of this face-to-face meeting process are described by a mnemonic 'DEAL', where each letter in the key word 'deal' represents a stage in the meeting:

  • Draw the logical levels diagram (using the logical levels system to explore the topics for discussion)
  • Explore possible deals (make proposals and give and receive concessions)
  • Agree the closing position (agree the formal contract and get the main points of the agreement in writing)
  • Look at the actual results (monitor how the contract is actually implemented over time)

Case study and role play

Conducting a price negotiation in order to gain familiarity with the influencing skills and deal making meetings management process

Group Exercise: role plays

 


Customisation

All our programmes are run on an in-house basis and (where appropriate) we conduct interviews and facilitate focus groups to gather information with which to write bespoke case studies that precisely reflect the culture and work environment of the participants.

Feedback

The basis of the feedback is peer review based upon assessment using a Boulden assessment checklist. Completing the assessment checklists is not only valuable to the people involved in a given case study, it also helps those completing them to gain an in-depth understanding of the building blocks that make up an excellent negotiation meeting.

Course structure

There is an option of following the workshop with a three month long Action Learning project to link the lessons from the training back into the workplace. If this option is selected there is a closure workshop at the end of the project phase where delegates present how they have applied the techniques learned on the course into their daily work routines.


Contact

To talk to us about our range of courses contact
Boulden Management Consultants:
via our Contact form
Tel: 0844 394 8877