From the course: Management: Top Tips

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Creating win-win situations

Creating win-win situations

From the course: Management: Top Tips

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Creating win-win situations

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- You'll often hear the term win/win negotiation but what is a win/win negotiation? Strictly speaking if you get 10% off, that's not a win/win negotiation, that's win/lose because you've gained 10% and they've lost 10%. So, how can you both gain? And the answer is tradables. If you can introduce a tradable, you both win. So, if you say if you'll give me a cheaper price for cutting my hedge, then I'll hire you three times a year for the next four years, then you get a cheaper price and they get a whole load of bookings and that's a win/win. So, win/win comes from tradables and therefore the way to make sure that you maximize the chance of a win/win deal is to prepare as many tradables as you can in advance. So, ask yourself, what can you offer them that's easy for you to offer and which would be valuable to them like for example, booking further ahead? And what might you ask them for that's easy for them to give to you but really valuable for you to have? So, prepare as many tradables…

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