The Negotiators Toolkit: 6 Roles for Effective Contract Negotiations

Contract negotiations are often complicated processes that can take several weeks or months to finalize.

 

The responsibility of the negotiator is to not only engage with his or her counterpart on the other side of the table, but to also oversee and manage the overall process.

 

While this may sound simple and intuitive, a closer look at all of the roles and responsibilities of a negotiator shows just how complex the management of a negotiation can be.

 

More importantly, not giving each of these distinct roles its due diligence and attention could be the difference between a mutually beneficial negotiation that mitigates risk and a lopsided negotiation that benefits one party while setting up the other for failure. 

 

When representing my clients in a negotiation, I typically wear a few different hats.

 

The Negotiator

This is the obvious one. The role and responsibilities are fairly well defined. My job is to understand the requirements of the business and negotiate the most favourable outcome while mitigating as much risk as I can in the contract.

 

The Lawyer

All lawyers are negotiators but not all negotiators are lawyers. I’m not a lawyer, but I’ve been negotiating for over 20 years so I know my way around the legal terms and conditions of a contract. That doesn’t mean I don’t need a lawyer on the team, but part of my job is to know our lawyer’s threshold of acceptability and negotiate terms as close to that threshold without going over it.

 

The Accountant

Two of the most important business terms in a contract, for both sides, is a description of what goods and/or services are being transacted, and for how much. Because of their importance, a lot of focus is given to making sure the “what” and “how much” in a contract is well defined. But there are other aspects of the agreement that also require some level of financial analysis such as payment terms, taxes and delivery fees.

 

The Decision Maker

A good negotiator takes the time to really understand the business requirements before getting into a negotiation. Because as much as we try to put structure around our negotiating strategy, there will always be unstructured moments when one party puts something on the table and the other party needs to make a decision. There have been times, during a meal or a round of golf, when my counterpart has casually offered up or conceded a key point in a contract and I’ve found myself having to make a quick decision on behalf of the business

 

The Project Manager

As a negotiator, I’ve often found myself at odds with project managers, and to some extent they’re my nemesis in negotiations. Gantt charts, timelines and status updates define their world. But contract negotiations are hard to manage on a Gantt chart because I don’t know if it’ll take 4 hours, 4 days or 4 weeks to agree on Warranty language or an Indemnity clause. However the reality is that project managers are there to make sure things are moving forward on time and on budget, and since they can’t sit in on every negotiation, I often find myself taking on that responsibility.

 

The Admin

This is probably the most overlooked and challenging role I’ve had to assume in a negotiation. It’s also the reason why I believe a good administrative staff is the backbone of any successful business. Even simple contract negotiations involve a lot of paperwork exchanging hands. In addition to several iterations of the contract draft circulating internally and back and forth between parties, there are also emails, meeting minutes, term sheets, schedules, addendums and other miscellaneous notes that need to be tracked and summarized

 

So all of this begs the obvious question: How does one person handle all of these responsibilities?

 

The short answer is that in most cases they shouldn’t, at least not directly.

 

Good negotiators are also good delegators. They have a keen sense of their strengths and weaknesses, and will move other resources in and out of their negotiations as the need arises.

 

When I’m working on a deal with a strong emphasis on protecting my client’s Intellectual Property, I’ll lean a little more heavily on our lawyer to help negotiate key legal terms and conditions.

 

Similarly, if my client’s business requirements seem high-level or somewhat undefined (which is a very common occurrence) I’ll make sure to involve a decision maker from the business in key discussions with our counter-parts.

 

What hats do you wear as a negotiator? Which ones do you find most challenging?

 

By: OneView

The only platform built for managing contracts!

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Free Webinar – Understanding & Managing People from Different Cultures

Understanding & Managing People from Different Cultures

People from different cultures have different values; beliefs; perceptions; “do’s” & “don’ts”; expectations; etc.

Since the multicultural population of Canada is now our 2nd largest population, understanding culturally-different people is an important skill in today’s Canada. Only 5 of the 195 countries of the world have a culture similar to Canada’s and 1/3 of Canada’s residents were born in these countries.

Join me on Wednesday, April 29, 2020 at 10:00 a.m. Eastern to learn more!

*Meeting ID: 530-952-397

Bill Dennis B.Comm., MBA, CSP (Distinction)
President & CEO
Cultural & Generational Training

https://crossculturalconnecting.com/

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Free Webinar – Inclusion and Understanding of Indigenous Peoples at Your Municipality

Inclusion and Understanding of Indigenous Peoples at Your Municipality

Indigenous Peoples have cultures that are different than Canada’s mosaic of Non-Indigenous people.

Understanding these cultural differences is very important to making Indigenous Peoples feel that your municipality is a welcoming, diversity-valuing organization where they will be Welcomed; Valued; Supported; and Respected as employees.

Join me on Wednesday, May 13, 2020 at 10:00 a.m. Eastern to learn more!

*Meeting ID: 530 952 397

Bill Dennis B.Comm., MBA, CSP (Distinction)
President & CEO
Cultural & Generational Training
https://crossculturalconnecting.com/

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Energy Booster Videos For You

We hope you are keeping healthy and well.

Like all of our clients, we are sure you and your team are burning through lots of energy to ensure everyones safe and healthy, and to adapt your business to the changing environment.

As you know, our mission at Juice is a simple one: to energize work for people and teams. There is no better time than now for us to consider how we can generate a little bit of energy to help people stay focused and productive in this time of disruption.

For this reason, we’ve created three short videos (each approximately 4 minutes in length) designed to help anyone and everyone in your organization re-energize their exhausted brains.

You can find the three videos on our YouTube Channel here:

Energy Booster #1: Start with Appreciation
Link: https://vimeo.com/399894838/d4d9086591

Energy Booster #2: AMP Up Acknowledgement
Link: https://vimeo.com/399895567/68ef721362

Energy Booster #3: Shift the Narrative
Link: https://vimeo.com/399907540/ed8d2d7c32

 

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Free Webinar – Managing a Team who is Working from Home

Are you managing a team who is now working from home?

Thursday, April 2nd, at 12:00 noon EST/10:00 Mountain

First off, thank you for taking the need to flatten the curve seriously. Now let us provide you with some helpful tools (policies, procedures) and tips to maintaining an effective remote team!

Erica Thomas, MBA and I are excited to partner our two companies, The Ontario Municipal Leadership Institute and Transitional Solutions Inc. to provide a FREE one-hour webinar on Thursday April 2nd 12:00 pm EST/10:00 am Mountain

Click the following link to register: https://attendee.gototraining.com/rt/4416534105522755585

Angela Gravelle
Executive Director, Ontario Municipal Leadership Institute (OMLI)
#coronavirus #worklife #workingathome #municipality #municipal #cao #councils #localgov #localgovernment #onpoli #leadership #technology #leansixsigma #leanmanagement #omlilean #government #ontario #publicpolicy #policies #civilsociety #worklifebalance #newnormal #munigov

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Free Webinar – Managing a Team Who is Now Working From Home

Are you managing a team who is now working from home?

Due to the overwhelming response to our April 2nd webinar, we are adding two more opportunities to join these webinars.

Friday April 3rd, at 12:00 noon and again at 2:00 p.m. EST

First off, thank you for taking the need to flatten the curve seriously. Now let us provide you with some helpful tools (policies, procedures) and tips to maintaining an effective remote team!

Erica Thomas, MBA and I are excited to partner our two companies, The Ontario Municipal Leadership Institute and Transitional Solutions Inc. to provide two more FREE one-hour webinars on Friday April 3rd at 12pm and 2:00 p.m. EST

Click the following link to register: https://attendee.gototraining.com/rt/4416534105522755585

Angela Gravelle
Executive Director, Ontario Municipal Leadership Institute (OMLI)

#coronavirus #worklife #workingathome #municipality #municipal #cao #councils #localgov #localgovernment #onpoli #leadership #technology #leansixsigma #leanmanagement #omlilean #government #ontario #publicpolicy #policies #civilsociety #worklifebalance #newnormal #munigov

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Three steps from Surviving to Thriving!

Three steps from surviving to thriving!

Do you enjoy change? Does the unknown of tomorrow thrill you with anticipation and excitement for the surprises that await you? Are you eager and prepared for whatever the day throws at you?

I’m not.  There, I’ve said it.  Sometimes I’d rather just close my eyes and wake up in the morning and take whatever life tosses my way, one thing at a time.

As an entrepreneur, I don’t have that luxury.  Just as I’m sure you have days where you’d just rather…not. But you have to, because of responsibilities.

We do the best we can, we try to plan ahead, accounting for every eventuality and contingency, and hope that things go according to plan.  But they don’t always, do they? When things go awry as they have with the Coronavirus outbreak, we all are facing changes unlike any we’ve experienced before, and we have decisions to make.

For some people though, change is particularly hard. Making a decision with so little clear direction or reliable information can be daunting, even if you’re pretty comfortable with change. For others, it’s almost impossible to make a decision. Fear can lock them into a cycle of analysis-paralysis which is great for procrastinating, but unhelpful for decision making.

This simple 3-step process can be applied to almost any situation where change is evident or required. It can be applied organizationally, individually, whether you’re a leader or a follower. This universal approach is the first step in improving your ability to deal with change: Identify, Pivot, Adapt.

Identify

The first step is to identify the problem, and the source of the problem as best we can. In my business, classroom-based training and consulting services, the problem is obvious. Nobody wants to sit in a classroom (neither do I), and employers are actively laying off consultants first.

Identifying the source of the problem is also important because that’s how you can determine what your level of influence is. What part of the issue are you able to control? I know for example that the outbreak is like to come in waves over the next 1-2 years until a vaccine becomes available to the public at large. I know that it’s got a widespread infection rate which has resulted in businesses shutting down, mass layoffs, and an upsurge in people working remotely and self-distancing. I don’t need to know every detail, but this information alone helped me pivot.

Pivot

Pivoting is an intermediary action. When a basketball player is blocked, they pivot on one foot to shift their body in a different direction. We have 360 degrees of pivoting available to us, so choosing the direction you want to aim for really depends on the information you have available.

To help me make a direction-based decision, I use the hand method. I lay my hand flat on a surface and spread my fingers. My middle finger is the undesired direction I’m currently heading in, and that I know needs to change.  Each of the other four fingers represent four different options for changing direction.

I don’t worry that I don’t have all the information to make an informed decision…pivoting is about making a quick decision to evade trouble by retargeting myself to aim for a different outcome. Keep it high-level, broad strokes. The details come later. Can you think of four ways you can respond to the problem you’re facing?

Will one of those four “finger options” represent a higher chance of success for a better outcome? If none of the options is particularly better, then choose one randomly and prepare to pivot again. This may go on until more informed decisions can be made, or one direction becomes clearer than the others.

Adapt

Once you set a direction, make a list of all the things you need to adjust to make that direction work. 

Maybe you’re suddenly working from home 100% of the time. If you have a spouse, can you work together in the same house? What about the same room? Are you competing for resources? Do you have a quiet area for phone calls? How will you adapt your schedule? Do you have a support system in place?

For Get Up and Learn, I’ve adapted by delivering training virtually instead of in classrooms. Also, because it’s online, I’m delivering all training in 1-hour segments, which can be linked together to fill a morning or a day, delivered as lunch & learn virtual group sessions, or provided on a pre-scheduled basis for example.

Three steps from Surviving to Thriving

By following the Identify, Pivot, Adapt approach, I was able to determine the problem I was facing including a general idea of the scope, duration, and probable impact.

By pivoting I was rapidly able to determine the most at-risk direction (which was to stay the course and do nothing) as well as four other reasonable options. The best of those was to move everything online and virtual.

A lot of work went into adapting and will continue over time. The training material & resources, delivery methods, website content – all of it needed adapting as a result of the Coronavirus.

The best part is my business is well-positioned for the future and I can see many opportunities to grow that weren’t available to me under the old model. Following this three-step process not only helped me navigate the emerging crisis, but it also strengthened the business potential for the future.

Identify, Pivot, Adapt helped me determine what was right for my business, and it can help you make choices too!

Necessary Sales Pitch Section

Jim Longman, through Get Up and Learn provides consulting, contract, and training services for employers in all industries. Our soft skills training helps people develop new thinking and skills when it comes to handling change, making better decisions, and much more. For more information, click here.

 

 

 

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Lead Others: Leadership Coaching

Lead Others: Leadership Coaching

When: April 14, 2020 1:00pm – 2:00pm ET

Registration Link: https://sagewisdom.levellingup.ca/lead-others-leadership-coaching/

Grow your career in a digital community with Ed Temple, Professional Certified Coach by IFC, Certified Executive Coach from Royal Roads University, MA, Total SDI Master Facilitator.

Join this live interactive, convenient, and affordable alternative to traditional professional development. Find community and development even amidst your self-isolation!

Relationships are key to business success and advancing your career or business ownership. Coaching is the most impactful way to increase your relational impact professionally. In this group you will learn an award winning and globally recognized coaching framework including principles, concepts, actions and behaviours associated with effective coaching in leadership.

You will also learn the neuroscience of coaching and why coaching is THE leadership tool of the future. You will be coached and coach in this course. You will use coaching skills and through the course be able to coach effectively in your professional life by the end. You will be given coaching questions to be able to utilize in many situations.

Starts April 14th Register NOW!

$38.70/hr, 9 weekly, one hour sessions. Max 8 people per group.

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LevellingUp will help you bridge the gap between knowing HOW TO do something and MASTERING it. Grow your skills fast alongside an expert and with the support of a trusted small group.

The experts you want. The skills you need. Nothing standing in your way.

www.LevellingUp.ca
#LevellingUp #PeopleHelpingPeople #LevelUp #Leadership #Goals

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Think Like a CEO

Think Like a CEO

April 14, 2020 4:00pm – 5:00pm ET

Registration Link: https://sagewisdom.levellingup.ca/think-like-a-ceo/

Grow your career in a digital community with Mike Joseph, Certified Business Coach, Gazelles & Gravitas Impact, Certified Forum Chair.

Join this live interactive, convenient, and affordable alternative to traditional professional development. Find community and development even amidst your self-isolation!

Geared towards leaders of small and medium-sized businesses, this Accelerator Group will help you to develop a vision for your organization, get clarity around your go-to market strategy, develop good execution habits, and measure outcomes using the right performance metrics.

Starts April 14th Register NOW!

$86/hr, 8 weekly, one hour sessions. Max 8 people per group.

BUY NOW
LevellingUp will help you bridge the gap between knowing HOW TO do something and MASTERING it. Grow your skills fast alongside an expert and with the support of a trusted small group.

The experts you want. The skills you need. Nothing standing in your way.
www.LevellingUp.ca
#LevellingUp #PeopleHelpingPeople #LevelUp #Leadership #Goals

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Building Confidence in Times of Uncertainty

Building Confidence in Times of Uncertainty

When:  April 9, 2020 12:00pm – 1:00pm ET

Registration Link: https://sagewisdom.levellingup.ca/building-confidence-in-times-ofuncertainty/

Grow your career in a digital community with Kimberly Hill, Entrepreneur, CEO of the Self-Confidence Project, Speaker, Confidence Coach, Writer, BBA, Reiki Healer.

Join this live interactive, convenient, and affordable alternative to traditional professional development. Find
community and development even amidst your self-isolation!

85% of individuals suffer from low-self esteem, and this harms our relationship with self, friends, family and co-workers. If you’re someone who feels unsure of yourself or is merely curious about how to increase your confidence, this group is for you. The truth is, you’re not alone, and confidence is a skill we can develop. Confidence matters in life just as much as
competence. Individuals who may not necessarily be the brightest in the room, but the most confident tend to be more admired and listened to than others.

Starts April 9th Register NOW!

$16.13/hr, 8 weekly, one hour sessions. Max 8 people per group.

BUY NOW
LevellingUp will help you bridge the gap between knowing HOW TO do something and
MASTERING it. Grow your skills fast alongside an expert and with the support of a trusted
small group.

The experts you want. The skills you need. Nothing standing in your way.
www.LevellingUp.ca

#LevellingUp #PeopleHelpingPeople #LevelUp #Leadership #Goals

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