visionomics^®

Principles of Negotiation

Visionomics^®, a series of COPE- and ABO-approved business-building courses, will be held at International Vision Expo West. They focus on strategies for assessing and maximizing practice profitability.

In this series, Eyecare Business—the official trade media partner for Visionomics at the show—will feature some of its speakers. This month, Kevin O'Driscoll, president of RIY Business Group and professional business coach, shares highlights from “The Principles of Negotiation.”

Negotiation is a big process of everything you do, both in your personal and business life. Though negotiation skills are an art, the science must be practiced like any other.

It begins with analysis of the needs, desires, and interests of all parties. Ask yourself: What are the goals of the negotiations? What terms can be settled? What are the negotiable areas each side is able to give up?

STEPS TO SUCCESS

1. BE PREPARED. Do your homework, and make sure you know what you want to achieve. Plan your questions, strategies, and alternative offers/options depending on how the other party reacts—whether it's a client wanting product options or a vendor wanting to negotiate payment. Study their short- and long-term goals. Ask about expectations, budget, and support needs.

2. LISTEN EFFECTIVELY. Many negotiations can be a win-win. Show genuine interest—ideas, suggestions, and offers can create a productive environment. Focus on your needs and your client's interests while maintaining relevant standards and benchmarks. Be attuned to the common-ground issues and needs that can derail negotiations.

3. GIVE CREDIT.Successful negotiators often throw ideas on the table, watch the opposite party expand on suggestions, and come up with a winning result. Providing high value puts you ahead of your competition. Be more than a supplier; be a trusted advisor and build rapport.

4 COMPROMISE. Be prepared to be flexible. Always have alternatives ready. Make it easy to do business with you. Win-win situations build long-term relationships better than, “I want to win all” negotiations. You don't have to be held hostage by the client or vendor, so be prepared to walk away if necessary. Tell them if things change or they need anything in the future, you will be here to help.

5. REVIEW RESULTS. Make sure all parties agree on all points and actions. Your products and services impact their lives, so be prepared to answer questions, put them at ease, and offer post-meeting support. People are looking for alliances and business relationships they can trust. Stand out from your competition. EB

Visionomics^®

For more info on Visionomics, go to: http://visionwest2011.conferencepath.com/program/?action=viewtrack&trackID=878
Supported by Luxottica