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This business coaching episode explains how to meet the needs of everyone involved during a contract negotiation.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Steps For Effective Contract Negotiation:: 13. Discover and Discuss Everyone’s Needs
  • Lesson Nugget:: When negotiating a deal, it is important to know and understand what the other party wants and expects.
  • Notable Quotable:: “I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” - Maya Angelou (Bestselling author, actress, producer, and writer)
  • Notable Quotable:: “The royal road to a man’s heart is to talk to him about the things he treasures most.” - Dale Carnegie (Bestselling author, and renowned communications expert)
  • Lesson Nugget:: The likelihood of the deal being beneficial to both parties increases if you take the time to understand what truly matters to them.

[MUSIC PLAYING]

-Step Number 13. We're talking about the different ways to effectively negotiate these contracts. Step Number 13, discover and discuss everyone's needs. All the different parties that are involved, discuss their needs. How do you do this?

CLAY CLARK: So you build that rapport. Now, hopefully they should like you. But now we've got to find their needs. We've got to find what are their true needs. So what you're looking for is what are the problems that they're looking to solve?

So you even want to say this. I would encourage you to write this down. You want to say this. So if this deal works out for you, what does a win-win look like for you? What are your needs? What are you looking to get out of this deal? Ask them that question.

Also say, what problems are you looking to solve? I mean, as a result of this deal, if this deal goes through, what problems will you solve as a result of this deal? You want to ask them that. Marshall, can you hit them a notable quotable?

OK. Notable quotable. Here we go. "I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel." That's from Maya Angelou, bestselling author, actor, producer, writer.

-Yeah. And what does this have to do with this? The thing is, when you're talking to someone, when they know that you're genuinely interested in their needs and helping them solve their problem, what's awesome is one, they're wanting to work with you, but two, after the deal is done, after we've negotiated, they're going to want to work with you again in the spirit of a win-win.

And that's why I don't mind the negotiating as a general rule because I know that my intentions are to legitimately find your problems you have and to help solve them. I'm trying to find your needs and address those with this deal. Can you read the next notable quotable?

MARSHALL: Next notable quotable we have from Dale Carnegie, OK? So from Dale Carnegie, "The royal road to a man's heart is to talk to him about the things he treasures most."

CLAY CLARK: Mm. So when you're talking and negotiating with somebody, you want to find out what it is they truly treasure, what it is they're truly looking for. And if you can help them get that, they are going to absolutely want to get the deal done. And that's what you have to do. You can't go into a deal just throwing out what you want, you've got to find out what they want first.

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