In Focus Consumer Credit
How to master online negotiations
Why it is time to make changes to adapt to the virtual world
Tony Hughes Chief executive, Huthwaite International
Virtual negotiations are now the norm, but whilst we may all be familiar with sealing deals on Skype, how many of us are masters in communicating well online?
Virtual negotiation interaction Whilst you may feel you are already experienced in negotiation; these skills may not always translate to the online world. It is important to practice your
negotiation skills within a virtual environment now to futureproof your virtual negotiation style. Start by initiating internal negotiations
and meetings virtually. Use this as an opportunity to test and assess skills sets, and where there may be breakdowns in communication. Having this valuable experience under
your belt will allow you to identify any sticking points you need to overcome as a business, early on.
Something to consider from the offset
if you begin virtual negotiations in the immediate future is to avoid a reference to “in the current crisis” and “bearing in mind the unprecedented times we are living through”. Nobody is unaware of the present
circumstances. A lazy negotiator may use COVID-19 as cover to justify price positions or proposed contract terms when in reality, it might have no bearing one way or another. A skilled negotiator on the other hand will
spot this, and it then morphs into another trap for the unwary: argument dilution. Be mindful of this in your approach.
Attend from anywhere The beauty of virtual negotiations is that you can attend them from anywhere. Whether you are in a different room, city or even country to those you are negotiating
Do not be pressured into negotiations until you are ready – this includes preparing and planning your responses around the objectives and fallbacks the other party have so you have a thorough understanding of what you both want to achieve from the process
with – it simply does not matter. This makes them much more efficient, reliable and easier to organise and manage. However, this shift in functionality has a direct impact on the negotiation process. With less restrictions around timing and
availability, be sure that you are entering the negotiations prepared. Do not be pressured into negotiations
until you are ready – this includes preparing and planning your responses around the objectives and fallbacks the other party have so you have a thorough understanding of what you both want to achieve from the process. Of course, another real plus to the fact
you can attend from home is that all the tools of the negotiator’s trade can be spread out on your desk (or kitchen table) for you to consult and annotate. That is a liberty you could never take in to a face-to-face meeting. The
August 2020
www.CCRMagazine.com
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