Episode 141: Lucy Chamberlain

[01.18] Lucy defines Negotiation – is essentially a social interaction between two people and generally with one individual that has an agenda that they are looking to achieve through that conversation.

[01.34] Lucy explains how negotiation is important for business – in business we negotiate every single day in a million different ways, in every conversation from contracts, to pay rises and promotion, to goal setting with our team, and much more, so for Lucy negotiation is very much based upon our emotional response to these conversations rather than the practical applications.

[02.20] Why don’t some salespeople don’t like to negotiate and what can we do to change this – Lucy feels that people get scared when talking about money, and years ago the role of negotiation was widely considered to be one of tactics and transaction, until about fifteen to twenty years ago when we started to realize we all have a fight or flight response within us when dealing with anything important that happens to us. Lucy talks about how this response makes us deal when we negotiate out of our comfort levels. That is why some sales people need to plan a strategy to help them manage their anxieties, anticipation and excitement to help them feel more confident when negotiating deals .

[04.09] How do you plan and execute a high stakes negotiation – Lucy openly talks about how her response to this question has changed over the years from bulldozing her way through to a more structured approach. Ideally the end outcome is two people that feel they have come away with something positive from the conversation/negotiation and the conclusion that has happened only continues to further develop the relationship as opposed to damage it. Lucy shares her three part preparation processes for negotiation – 1: The Build Up – Lucy explores various factors related to the build up, for example, how she feels about the conversation, who she will be meeting, how the customers may feel, how they respond normally. Lucy also focuses on how she may be feeling, if she feels she may be anxious Lucy explores tools on how she can overcome this so she doesn’t express this to the customer. In some situations Lucy will also consider if it would be beneficial for a third party to attend the meeting. 2: The Main Event – Lucy explores possible occurrences that could happen in the meeting that would make her feel angry or anxious, what things would trigger a negative response from her counterpart and what would they do or ask that would make her feel anxious or pull the rug from under her feet. Knowing this helps Lucy be every well prepared by considering all these options, it allows her to inspire trust and confidence with their counterpart, and are much more likely to come to the negotiating table willing to meet a lot more of what you are trying to achieve when they feel trust and confidence. 3: The Finale – Lucy looks at the possible outcomes, what she wants and expects to achieve and what her counterparts may feel about the possible outcomes.

[09.37] What are the attributes of a good sales negotiator – Firstly Lucy discusses that a good sales negotiator has to believe what they are negotiating for and know your product, what it offers, the importance of and the value it brings, be competent and confident. Another attribute Lucy mentions is resilience and having and understanding strong emotional intelligence, which is critical for sales people and negotiators to know. Lucy shares that research has proven that the ability to be collaborative rather than competitive in a negotiation situation wins out approximately 50% more of the time than someone who just goes in to win.

[11.18] Lucy shares her top negotiation tools and strategies – Lucy discusses her main three part preparation process for negotiation and talks about the importance and the ability to pause and write down the emotional information regarding the build up, the main event and the outcome. Lucy shares that she uses a template from the book ‘Emotion and The Art of Negotiation’ which breaks down the three areas and is highly recommended by Lucy.

[12.51] Lucy shares her top three negotiation Do’s and Don’ts – Never forget the power of silence, it may often get the counterpart to back track or agree simply because they are filling that space. Never forget the power of diplomacy, which is the art of letting someone else have your way, which has stood Lucy in good stead. Do count to ten, a classic negotiation technique that gently softens your disapproval in a way that keeps you in control and negotiating.

[14.14] Lucy shares her favourite negotiation story – when Lucy was negotiating a contract with one of the global big four consultancy companies for a difference that meant putting her business on the map or staying small. Lucy knew there was a better deal to be had and took the risk of challenging their terms and conditions of the contract by utilizing her preparation process, holding her integrity and other tactics to successfully securing the better deal she wanted.

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More About Lucy

What was the last book you read? The last book I read was Attack of the 50ft woman by Catherine Mayer

Who / What inspires you? I think inspiration comes in so many forms! Business wise I think it has to be Anne Wojcicki (Founder of 23andMe) and Whitney Wolfe Herd (Founder of Bumble)

What aspect of your own Social Media are you most focused on improving at the moment? At the moment I Am focussed on Strengthening my network by connecting and establishing trust with key decision makers.

Hobbies, Interests? I have recently gotten back into yoga and I am practicing any chance I get – Hatha, Ashtanga Jivamukti, Power – you name it! I also love art and watching any form of dance choreographed by Matthew Vaughn

How can our listeners contact with you? Check out my company: www.candcsearch.co.uk
Email: lucy@candcsearch.co.uk