Contract Negotiations Questions

Video Transcript

Hello, my name is Barry Payne on behalf of Expert Village. In this last unit on the face to face skills of successful negotiators, we're going to look at the way information is handled. Take a look at the chart. This is one of the most powerful models that I can recommend to you. Skilled people; one in five things that they say is a question. Dumb people don't ask questions. Skilled people ask questions. Let's have a look at why. First of all, if you remember, I told you earlier that skilled people give very little fact and opinion. They talk about their feelings, and how the other side is impacting them in the negotiation, but they don't give away many facts or opinions. In fact, the more information I have about you, the better off I am. The less information you have about me, the better off I am. Asking questions means the information is flowing in which direction. It's flowing from you to me. So if I'm asking the questions, I'm getting information. In negotiation, information is power. There's a lot of other reasons why questions are so useful to the skilled negotiator. Questions can give you a breathing space, and keep the other side active. There are times when you need to pause and think, without taking a break. Questions can help you do that. Questions also expose things which, otherwise; wouldn't arise. Let me give you an example. Can you give me another five percent, says the negotiator.? The other side says no. Can anyone give me another five percent? Well, says the other manager; if anyone can, my director can. Next question; will he give me five percent?;the answer, yes. I couldn't believe it, I mean, that was a wonderful concession he obtained, just by asking three questions. Ok, Another question. What's your supply situation at the moment?, says the buyer. "It's fine, we've got a surplus in the warehouse right now. Is that useful to know? Of course it's useful to know, if they've got a surplus, they've got a lot of cash tied up in the warehouse, so they might make concessions to move it. So questions can get facts which will help you, and it can cause the other side to give things away which can be beneficial to your party.

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