coffee cup negotiations
 
 
CHESHIRE-based business advisor and founder of the Global Advisory Group Glenn McDowall  is in no doubt about the power of negotiation and its key role in finding settlements to the most complicated business and financial disputes.
Negotiation is a skill he has honed over more than 40 years in the senior business positions he has held in Australia, South East Asia and the UK and is one he continues to use to help his current business clients save many millions of pounds.
A property development company he represented recently achieved a £7.5 million write-off and another property development business achieved a £2.4 million write-off following Global Advisory Group representation.
“Negotiation is a very powerful tool and one that can achieve positive results,” said Glenn speaking from the Hale HQ of Global Advisory Group.
Now he has put together his top tips to effective negotiation when dealing with banks and other financial organisations:
 
  1. Never lose your temper with the people you are dealing with.
  2. Set out your proposals clearly to assist in them being agreed later.
  3. Find motives for banks to agree to your proposals.
  4. Insist on keeping discussions in-house.
  5. Dominate meetings rather than allowing the other side to take the lead.
  6. Keep in mind Winston Churchill’s maxim on negotiation: “Knock them off their horse, give them a bloody nose and a good thrashing, then help them up and give them sixpence to get home, keeping their horse of course”, this way they will think that you were fair with them.
  7. Always go to meetings prepared, many people don’t.
  8. Always ensure that you have memorised all of the important details, so that in a meeting you can fire statistics and figures at them rapidly, to show that it is you who is the expert.
 
“Confidence is key to successful negotiation and the best way to engender confidence is to ensure you have all the up-to-date information and background on your clients case”, added Glenn. “A thorough knowledge of the facts and figures is essential for all negotiation.”
 
 
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