Scotwork Australia

19/11/2024

The impact of past interactions⬅️positive reinforcement ✅and an effective transition to the implementation stage🔄on negotiation outcomes can't be underestimated!

Check out Phil Joynes top 3 tips for negotiation mistakes to avoid 👇

30/10/2024

We'll stick to our day jobs as negotiation experts rather than spooky comedians! 😂 👻 🎃

29/10/2024

Negotiation missteps happen (to err is human as they say!). We asked our negotiation consultants what are some of the common mistakes negotiators might be making without realising that could be derailing their deals.

First cab off the rank is Managing Partner Ben Byth who shares his top 3 negotiation mistakes to avoid.

What would you add to the list? Let us know in the comments below 👇

18/09/2024

The term 'bad actors' used to conjure images of daytime soap opera villains. These days, it's a term that has evolved to describe the cyber criminals causing chaos in our digital world. Recent breaches like those at MediSecure and Optus highlight just how impactful these threats can be, affecting more than just data—damaging reputations and shaking customer trust.

What’s intriguing is how these challenges are reshaping the landscape of negotiation. Amanda Chicago Lewis’s article in The Economist’s 1843 magazine, "Secrets of a Ransomware Negotiator," gives us a glimpse into this high-stakes world.

As Scotwork Principal Consultant Keith Stacey shares, it’s a fascinating look at how seasoned negotiators handle these situations with surprising strategies and calm, offering valuable lessons for anyone interested in mastering the art of negotiation.

https://www.scotwork.com.au/insights/2024/negotiating-cyber-attacks/

A recent article in the 1843 magazine of The Economist by Amanda Chicago Lewis (Secrets of a ransomware negotiator) outlines the work of a Ransomware negotiator. The article provides a number of lessons for all negotiators and is worth reading.

13/09/2024

The Scotwork crew took the opportunity to check in with each other and with our participants on the Canberra ANS program and the awesome team at Redox Ltd yesterday to ask R U OK?

What is the worst behaviour you have seen the negotiating table?

We have seen some of the best and worst of people at the negotiating table and are really aware of the impact it can have on the people tasked with achieving objectives.

Any day is a good day to:

💛 Be there if someone is doing it tough
🖤 Be prepared to step up and ask for help when we need it
💛 Be aware of the impact we might be having on others, particularly when we might have a lot of power.

20/08/2024

🔍 Have you ever noticed how the initial numbers in a negotiation can shift the entire outcome?

In the world of commercial negotiations and tenders, the technique of anchoring can be your secret weapon.

At a recent local government association meeting, Negotiation Advisor Christopher Gates ran a simple yet revealing experiment with attendees using the example of humpback whales.

By setting different initial figures - 200 meters versus 2 meters - the average estimates ended up vastly different, highlighting the power of the initial anchor⚓

In negotiations, the principle is the same. The number you set first can heavily influence the final outcome. As such, it is incredibly advantageous if you anchor that figure as close to your ideal as possible. The onus is then on the other party to move away from your position.

Keen to master this and other techniques that can help transform your negotiation strategy? Check out out flagship Advancing Negotiation Skills program 👉 https://www.scotwork.com.au/solutions/ans/

15/08/2024

Are You Investing Enough Face-to-Face Time With Your Counterparts?

Post COVID, the convenience and efficiency that platforms such as Zoom offer can't be denied. Yet somewhere along the way, it feels like we have begun to overlook the power of face to face interactions.

It's something that Managing Partner Ben Byth has been reflecting on after a week of enjoying several sit down meals whilst in Sydney - just how crucial personal connections are in business. It’s not so much about the meal itself, but about investing time to build deeper relationships with peers, suppliers, and customers.

This face-to-face engagement is more than just social—it’s a strategic advantage. Taking the time to connect in person facilitates the opportunity to strengthen relationships, foster trust, and enhance your negotiating power. Whether it's reflecting with colleagues, building rapport with suppliers, or understanding customers on a personal level, these interactions can lead to more effective collaboration and smoother negotiations.

Have you found the same when managing relationships with your counterparts? Let us know in the comments below!

Want to chat further about this or other negotiation challenges? Get in touch with our team at + 61 2 9211 3999 or [email protected]

30/07/2024

🤔How do you accelerate deal closure?!🎯

Are you struggling to close deals faster and more predictably? In this video, Scotwork Negotiation Advisor Christopher Gates explores innovative strategies that go beyond typical tactics like CEO phone calls or last-minute concessions.

Instead, Chris focuses on:

💡 Effective Negotiation: By using a structured negotiation approach like Scotwork's methodology, you can quickly uncover and address critical issues, smooth out the dialogue and thus expedite the process.

💡 Incentives Tied to Deadlines: Implementing strategic incentives linked to specific dates—ideally, the proposed contract closing date. This not only drives decision-makers to meet deadlines but also gives you leverage to negotiate last-minute adjustments.

Watch the video below and discover how these techniques can transform your approach to deal closure.

And as always - we'd love to hear your thoughts in the comments below!

24/07/2024

⬅🚶‍♂️Knowing when to walk away is an essential negotiating self-discipline ⬅ 🚶‍♀️

As Principal Consultant Keith Stacey outlines in our latest blog, setting a 'Must Avoid' or 'Minimum Acceptable' position is paramount for negotiators.

It's about recognising when continuing might lead to more harm than good—when saying 'no' could safeguard financial stability and other critical factors for you and/or your organisation.

Remember, sometimes the best deals aren't the ones you make, but the ones you walk away from!

https://www.scotwork.com.au/insights/2024/knowing-when-to-walk-away/

Knowing when to walk away is an essential negotiating self-discipline. However, our ability to make such a decision can be compromised by confirmation bias

23/07/2024

Are You Dealing with a Grievance? Here's How to Turn Frustration into Opportunity! 💡✨

We've all been there: promises unfulfilled, plans disrupted. But instead of letting frustration boil over, why not see these moments as chances to negotiate?!

Take this office worker's experience with a major retailer who had promised a laptop that wasn't available upon arrival. Faced with lost time and productivity, they could have vented their frustration. Instead, they calmly proposed a solution: expedited delivery of the laptop and a high-end mouse, in exchange for a positive outcome and no negative reviews.

Result? A win-win. The lesson? Next time life throws a curveball, remember, it might just be your next negotiation opportunity waiting to unfold!

18/07/2024

How do you transform your procurement team from being seen as a cost center to that of a strategic asset?

In a world where the negotiation function of a business is often seen as a cost rather than a benefit, Scotwork Negotiation Advisor Christopher Gates suggests a a game-changing approach: Create a value scorecard.

Track every term and its impact throughout negotiations, quantifying and qualifying the value you bring. By the end, you'll have a compelling case to show how your negotiations aren't just about savings, but about adding measurable value to your organisation.

Keen for some more negotiation tips? Get in touch with our team to further elevate your team's impact 👉 [email protected] or +61 2 9211 3999.

17/07/2024

Are you a Wordler? 🔠

As Principal Consultant Keith Stacey writes in our latest blog, there are some surprising parallels between Wordle players and skilled negotiators.

From strategic planning and making informed assumptions to learning from mistakes and leveraging feedback, both pursuits share fundamental skills for success.

Whether you're unraveling a five-letter word or navigating a high-stakes negotiation, each attempt brings invaluable insights.

https://www.scotwork.com.au/insights/2024/a-wordler-s-guide-to-negotiating/

Every day millions of people around the world try to guess a five letter word in six attempts. There’s even a new collective noun to describe them - wordlers. The game was invented by Josh Wardle to amuse his partner. The simplicity of the game soon attracted a legion of followers; it was acquired...