- You have more bargaining power than you might think. It is important to value your own knowledge, your understanding of company processes and the expertise of your colleagues as these are all aspects that can be used as ‘bargaining chips’ during negotiations. Believe in your capabilities and back yourself up!
- Preparation, preparation, preparation. Never allow yourself to be backed into a corner because of a lack of preparation. Do your research; know who you are dealing with, who is authorised to make decisions; the most favourable outcome for all parties and where compromise is possible so you can walk into a negotiation with a clear mind and feeling confident.
- Ask questions; listen actively. Ask open questions to find out what the other party’s underlying needs are. Understanding their needs will allow you more flexibility and initial ‘deal breakers’ will becomes less important in the negotiation. Avoid general assumptions and understand the reasoning behind a negotiator’s behaviour.
- Each negotiation context is different, but following the seven stages of negotiation will ensure a positive outcome for everybody involved. Make sure to come prepared, set the appropriate ‘climate’ for the meeting, understand the behaviour and the motivation of the stakeholders involved, develop opportunities, ask for what you want, rephrase the issue when bargaining and, crucially, know when to close the deal!
- You should consider the terms and conditions of each GLA funding scheme and choose the most appropriate scheme for your borough. GLA’s Homes for Londoners Programme offers a range of public funding schemes such as grants, Recycled Capital Grant Funds (RCGF) and Disposal Proceeds Funds (DPF) to cover development costs. Ensure you are registered on GLA-OPS, a new grant and management system, be respectful of timings and negotiate the best possible outcome for your borough.
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