BMP Radio Negotiations

BMP Radio: Considering the Other Party’s Interests as Strategic Negotiation Preparation

Written by Kelly Barner

Mark Bilgin is a career negotiator and the author of Mastering High Stakes Negotiations and he is joining BMP Radio for a regular podcast series on all things negotiation.

In this session, we’re going to talk about how no negotiation preparation can be considered complete without a careful study of the other party’s interests.

Highlights from the Show Include:

  • Mark acknowledges that while more is still more, at some point time for preparation is up (even in a high stakes negotiation) and the time comes to move on.
  • Best practices include listening for ‘verbal cues’ that suggest pricing or other terms that must be satisfied in order to finalize a deal v. those that the other side is hoping to extract as a concession. Examples include: deal breaker, rejected, impasse, and no-go.
  • By gathering peripheral information about the company and their industry, as well as the markets for their products and services, it is often possible to create a table or model of the concessions they are likely to make – and the ones they may expect.
  • When the other party’s team is led by an equally seasoned negotiator, it is wise to acknowledge what you know. This brings that information into the open and prevents it from serving as an intimidating spectre in the room.

Links and Resources:

About the author

Kelly Barner

Kelly Barner has covered procurement news, events, publications, solutions, trends, and relevant economics at Buyers Meeting Point since 2009. In 2017, she joined Philip Ideson as a co-founder of Palambridge, a virtual platform of procurement experts, technology, and intelligence. Palambridge provides a broad range of flexible procurement solutions, available on-demand.

Kelly has several regular columns throughout the procurement industry and in the summer of 2016 was appointed to become the Business Survey Chair for the ISM-New York Report on Business.

Kelly has her MBA from Babson College as well as an MS in Library and Information Science from Simmons College. She has also co-authored two books: ‘Supply Market Intelligence for Procurement Professionals: Research, Process, and Resources’ (2014) and ‘Procurement at a Crossroads: Career Impacting Insights into a Rapidly Changing Industry’ (2016).

Before covering the procurement industry as a blogger, Kelly worked as the Associate Director of Consulting Services at Emptoris (now IBM) and as a Hired Services sourcing specialist at Ahold USA