Negotiation can be a tricky endeavor, especially in a business setting. In this episode of the Business English Podcast, we lay down the path to successful negotiation in clear, actionable steps. If you're a non-native English speaker looking to sharpen your negotiation skills, here are the highlights:

 

1. Stages of Negotiation:

• Preparation: Research the other party, set your goals, and plan your strategy.
   
• Opening: Make introductions, set the tone, and establish ground rules.
   
• Exploration: Exchange information, explore interests, and probe for more details.
   
• Bargaining: Engage in making offers, counteroffers, and find ways to create mutual value.
   
• Closure: Reach a final agreement and confirm next steps.
   
• Follow-up: Ensure both parties are fulfilling their obligations.
  
   

2. Vocabulary and Phrasing:

• Phrasal Verbs for Negotiation: Learn terms like 'hold out,' 'bargain for,' and 'hammer out.' For instance, 'hold out' means to refuse to agree until certain conditions are met, like waiting for a guarantee of quality.
   
• Making Offers: Utilise phrases like "I'd like to propose an offer that I think will work for both of us," or "We're prepared to offer you a competitive price."
   
• Responding to Offers: Know how to respond appropriately with phrases like "Thank you for your offer, but it's not quite what we had in mind."
  
   

Examples to Understand Better:

• 'Walk away': End negotiations without an agreement, e.g., if there's no consensus on price, you might need to walk away from the deal.
   
• Making an offer: Combine phrases like, "Our initial offer is £1000, but we're open to negotiation. If you accept our offer, we can move forward with finalising the agreement."
  
   

Summary

This episode is packed with practical tips, from understanding the negotiation process to leveraging precise language. Whether it's the importance of preparation or the effective use of phrases for making and responding to offers, these insights are vital for anyone looking to negotiate successfully in a business environment.

Want to dive deeper into the world of Business English Negotiation? Subscribe to the premium tier of the podcast to unlock more valuable content. Whether you are a seasoned negotiator or just starting out, these lessons will enhance your speech and make you appear more professional at the negotiation table.

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