Preparing for a Competitive Negotiation Meeting

I sold three companies before I turned 36, and they were all VERY intense negotiations. These are the 6 rules of negotiation that I wish I had known from day 1: 1/ Establish a Mission & Purpose This is your guiding light throughout the entire negotiation process. Do this by establishing a mutual goal with the other party that you can both return to again and again. Remind each other why you’re pursuing the negotiation in THEIR world. This is key because it helps the other party understand that everything you negotiate after that helps them achieve *their* goal. 2/ Understand Motivations Before you even begin an engagement, you need to understand the other party’s motivations. This is NOT the time to make assumptions because that will fast-track you to a loss. Listen intently as you get to know them, and really seek an understanding of their motivations. 3/ Drive to a Decision My negotiation motto is that every engagement should drive to a decision. Don’t bother with needless check-ins and updates. Instead... Stay focused on one decision at a time. That single clear objective cuts through the noise and narrows your attention. When your eyes are on the prize, nothing can distract you. 4/ Be Prepared Come to the table as prepared as you can with scripts, key points, and stakeholder motivations to guide you. Yes, scripts are actually amazingly helpful. Being prepared gives you direction, confidence, and the ability to anticipate and adjust.. fast. 5/ Don’t Bluff. It’s tempting! I get it. Especially when the other party is dragging their feet. But the moment you give a false deadline or ultimatum, and the other party calls your bluff… you’ve lost all credibility. There are ways to push action with bluffing: “It’s important you know if we don’t do ___ by ___ date, our mutual goal will be put at risk." This doesn’t have any hard bluff, but does give directional accuracy. 6/ No Isn’t the End I love hearing ‘no’ during a negotiation because I know that the negotiation isn’t over yet. Far from it: It means there’s an opportunity for further understanding. If you hear “no,” ask this: “What led you to come to this answer? What parts made sense and what didn’t?" Same goes for you - if you say “no” it doesn’t mean the negotiation is over. Say no, keep standing at the table, and ask “How would you like to proceed?” These rules aren’t just relevant to M&A negotiations, but they’re also effective tactics for most negotiation scenarios and even B2B sales. ––– I've shared my best negotiation tactics; now it's your turn – what are some tactics you use?

Mistakes in process, not price, derail most negotiations. Refocus on process management, not chasing final outcomes. Master a six-step framework that transforms chaotic haggling into calm, value-creating negotiations. Thirty years of global supply deals show 68 % of failures stem from poor process, not price gaps. During my two keynotes on Procurement Negotiation at last week’s "Conference on Manufacturing Management" hosted by McGill University, a group of seasoned leaders landed on one blunt truth: Performance soars when you chase process over outcome. Here's how to do it: 1️⃣ Prepare: ↳ to know what you don’t know. 2️⃣ Build trust:  ↳ Separate the person from the problem to spark problem-solving. 3️⃣ Exchange info on interests, priorities, preferences:  ↳ Hunt the motives behind positions. 4️⃣ Expand the pie:  ↳ Spot trade-offs and craft options that maximise joint value. 5️⃣ Claim your slice:  ↳ Negotiate firmly for a meaningful share of that bigger pie. 6️⃣ Write it down:  ↳ Ink a clear, implementable deal that everyone can follow. When a car battery supplier tried a 12 % hike on a client last quarter, we ran these six moves. ↳ Price dropped 3 %, delivery windows shrank, and trust spiked—because process, not pressure, did the heavy lifting. Known process, unknown outcome: control what you can, and the result improves itself. Tell us about a time shifting from outcome-chasing to process-crafting saved (or sank) your negotiation. What changed and why? Share your spin. Save this list before your next vendor call. ♻️ Pass it on if a teammate needs smoother deals. #negotiationbydesign #procurementstrategy  

If you fumble the room, you lose the deal. One of my coaching clients had a big meeting coming up: Multiple stakeholders. Six-figure potential. One shot to get alignment or risk the deal stalling out. Here’s how we prepped: 1️⃣ Mapped the room – Who’s who? What does each person care about? Who’s the real decision-maker, and who just thinks they are? 2️⃣ Built a business case – Clear ROI story, tailored to each persona. Product came last. Their priorities came first. 3️⃣ Prepped for pushback – We anticipated objections and wrote responses they could deliver with confidence (not defensiveness). 4️⃣ Assigned roles – Everyone knew when to lead, when to listen, and how to close strong. 5️⃣ Practiced the open and the close – Because that’s where deals are won or lost. They didn’t just “get through” the meeting. They earned trust. They moved the deal forward. And they walked out with a champion.

I’ve helped several entrepreneurs navigate 8-figure negotiations. This is my negotiation masterclass: — 1. Be “un-ok” with the deal When you need the deal, you say yes to everything. When you know that what you have is worth a lot, you question the deal. - Ask all the questions - Don’t rush to get the deal done - Make “no” your default answer You should be “un-ok” with the deal going through. — 2. Trigger decisions not emotions You can only make a clear decision when you have all the information. - Guide towards a decision - Never manipulate emotions - Handle objections with FACTS You’re not there to get to ‘yes’. → You’re there to get to a decision. — 3. “No” is not personal They’re saying no to a deal, not to you. - Remember the value you're offering - Be ok to walk away if it isn’t right - There are always more buyers It’s not a personal rejection, it’s a decision. Keep moving. — 4. Equal exchange of value An unclear mind loses touch of the value you’re offering. Try a mental clarity reset with positive self-talk to make your mind clear and confident. (Wood, Perunovic, & Lee, 2009). — 5. Control behaviors, don’t focus on the goal You can’t control outcomes. → you can only control your inputs. Get obsessed with: - What you say - How do you speak - How you create an irresistible offer — 6. Ask open-ended questions These are the best tools to extract information from the other side. More info = more leverage. Aim your questions at the most silent one in the room (they’re usually the decision-makers). Then shut up and listen. We have two ears and one mouth for a reason. — 7. Never assume When you assume, the information you *think* you know blinds you from knowing the real situation. - Always do your research on the other party - Go into the meeting to gain clarity; not to confirm your bias. The better you know the field, the better you can play it. — 8. Speak to the pain Every decision comes from a position of pain. Even an acquisition. - Don’t beat around the bush - get to the pain - Find the EXACT words they use - Use those words when you talk about your painkiller The more you can get them to talk about their pain in their own words, the more they will feel like your solution is their own idea. — 9. Know your endurance I used to think negotiation also meant social events and getting drinks to bond. Lesson learned: Alcohol only drains your energy. Be disciplined and say no to free booze. Being the sharpest at the negotiation table is your competitive advantage. — 10. Get physical Negotiation isn’t all in your mind. - Slow down - low + slow voices show openness and confidence - Dress for success - ‘Enclothed cognition’ means that what you wear determines how you think - Sit up - Just like good clothes, good posture gives you confidence to feel in control — Enjoyed this? Repost ♻️ to share to your network and follow Ignacio Carcavallo for more content like this!