Key negotiation vocabulary:
- leverage = power or advantage in a negotiation
- concession = something you give up to reach agreement
- win-win solution = both sides benefit
- dealbreaker = issue that will end the negotiation
- bottom line = the minimum you will accept
- compromise = both sides give something up
- walk away = end negotiations without a deal
Essential negotiation phrases:
Opening positions:
- "We're looking for a 15% discount on bulk orders"
- "Our initial proposal is..."
- "We're willing to consider..."
Exploring options:
- "What if we could offer you extended payment terms?"
- "Would you be open to..."
- "Let's explore some alternatives"
Making concessions:
- "We could meet you halfway on that"
- "If you can commit to a longer contract, we might be able to reduce the price"
- "I'm prepared to offer X, provided that you..."
Pushing back:
- "That's beyond our budget, I'm afraid"
- "We'd need to see some movement on your end"
- "That doesn't work for us at this time"
Closing:
- "I think we have the basis for an agreement"
- "Shall we draw up the contract?"
- "Let's recap what we've agreed to"
Advanced strategies:
- BATNA (Best Alternative To a Negotiated Agreement) = know your backup plan
- Anchoring = setting the initial reference point
- Silence = powerful tool; let the other side fill the gap
- Bundling = package multiple items together