Develop negotiating skills

Develop negotiating skills

1. Good negotiators are born that way.
   1. True
   2. False
2. Negotiation skills can be enhanced by daily practice.
   1. True
   2. False
3. Overconfidence can upset a profitable transaction because:
   1. The situation has not been evaluated sufficiently
   2. You are not a good listener
   3. You overlook the other side’s deal points
   4. All of the above
4. Actually, all negotiations are win or lose situations.
   1. True
   2. False
5. Which business has the most pricing power?
   1. An airline
   2. A veterinarian
6. A „deal point” is?
   1. A non-negotiable condition
   2. An issue to be negotiated
7. An escape provision is an important negotiable issue.
   1. True
   2. False
8. Examples of an escape provision include:
   1. An expiration date of the offer
   2. A „subject to financing” clause
   3. Both of the above
9. Pricing power means:
   1. Having to compete with your competitor’s price
   2. Having a unique product or service
10. It is a good idea to state what you will pay before asking the price.
    1. True
    2. False

Question 1: (2) False. Negotiating skills are very important and they can be learned.You can make a practice of using your negotiating skills on a regular basis.

Question 2: (1) True. Practice asking for a special price so you become familiar with asking procedures.

Question 3: (4) All of the answers are important.

Question 4: (2) False. It is a much better approach to understand the other person’s position and negotiate.

Question 5: (2) Veterinarians are specialists while airlines compete intensely for providing essentially the same service.

Question 6: (1) A deal point is a non-negotiable condition.

Question 7: (2) False. Actually a deal point is a non-negotiable provision.

Question 8: (2) While an expiration date is vital to have it is not an escape provision because the other side may accept the deal within the expiration date�.leaving you with a binding deal.

Question 9: (2) Your business is so special and unique that you can set your own price.

Question 10: (2) False. You should know the seller’s asking price before negotiating.

Source: http://www.myownbusiness.org/