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TRADING TECHNIQUES - Coggle Diagram

- - - - The person who is most restricted by the time limit provides their opponent with a power base.
        Buying, selling, negotiating are hard and exhausting jobs, so the desire to work is power. Perhaps the heaviest work is imposed on us by planning requirements and deadlocks.
        The party most willing to work hard gains from power, some sincerely lazy lose this important source of power.
- - - - In any case, even if the power relationship is unfavorable to us, one cannot start a negotiation with a feeling of inferiority, with the conviction that the other party is stronger, more intelligent, that they are going to sweep us away: we would be lost.
        You always have to go to the negotiation with the aim of achieving the best possible result. If the other party abuses its power and tries to impose unacceptable terms on us, we will only have the option of breaking off the negotiation. To conclude, note:
        
        Needs
        
        Objects
        
        Meet the other party
- - - - TRADING STYLES
        WHAT IS THE BEST STYLE?
        Typical phrases of each Style
        
        Catalyst Style
        
        Linebacker Style
        
        Controller Style
        
        Analytical Style
        
        Critical Negotiator: Negotiators focused on action, what interests them is that the other party acts according to the principles that he imposes, they pretend to be right and that an agreement is reached with the other party accepting the alternative they propose.
        Paternal Negotiator: Negotiators who are interested in fulfilling the pacts and acting in accordance with the solutions that he imposes. It is based on affective-type behaviors.
        Calculating Negotiator: His behavior is aimed at achieving previously set objectives. It is based on reasoned agreements: it constantly calculates, adds and subtracts, multiplies and divides products, numbers and people.
        Complacent Negotiator: Negotiators who like to please the parties, avoid confrontation. They favor the personal relationship, having this a great weight when it comes to reaching an agreement.
        Quarrelsome Negotiator: Demanding negotiators with the issues to be discussed, sometimes aggressive and challenging.
        Imaginative negotiator: It is characterized by its emotional, changeable and creative attitude.
- - - - The ideal is to wait for the other party to start making concessions, although it is also possible to take the initiative, which grants a certain moral force since one shows a good predisposition to reach an agreement.
        The concessions are made looking for an immediate objective, at the moment in which they can have the greatest impact and not randomly. For example, to overcome a blockade, as a sign of good predisposition, or when it is expected to obtain a consideration from the other party. Whenever one makes a concession, it is advisable to wait for the other party to respond in the same way (it is their turn) and not continue making concessions without obtaining compensation.
        Concessions should never be made in response to pressure or threat in the hope of calming the other party down. Normally this will not happen, and more often than not the other party grows up at the success of their strategy and continues to press.
        It is interesting to keep some room for maneuver to be able to make a final concession when the agreement is about to be closed. It is a sign of good will and also allows the other party to further convince himself that he has achieved a good result.
        Finally, point out that we must try to overcome these blocking situations, that one cannot give up at the first difficulty. However, if satisfactory solutions are not found in the end, it is better to break off the negotiations than to reach a bad agreement.
- - - - People don't prepare to negotiate for three reasons:
        1) they do not see an important value in preparation;
        2) they are too busy to spend their limited time preparing;
        3) They don't know how to prepare for the negotiation in a way that produces results.
        They commonly assume no preparation is necessary when negotiating in low-risk situations or feel they know enough about the substance of the issue to improvise.
        
        Time is always a scarce resource for busy executives. With this in mind, we have classified our structured preparation techniques into three categories:
        Quick Setup is a quick look at the negotiation map; it would help to have a sense of what the negotiation is and where it should go.
        Priority Preparation is useful when it is necessary to focus only on certain elements of the negotiation.
        Complete Preparation, is a broad preparation, useful in complex negotiations.
        QUICK PREP Quick Prep is intended to provide quick help when you are facing a short negotiation or are short on time.
        It's a good way to start moving toward deeper preparation, and by itself may be enough for five-minute phone negotiations.
        Quick preparation would require only a few minutes to systematize your thinking and clarify your ideas and feelings towards the negotiation.