Negotiation Interview

I had the pleasure of interviewing Jeff Sprague, who is a Trust Administrator at FirstMerit Bank. Negotiations are a regular part of his position.

Me:      When entering into negotiations, how do you prepare?  How do you make sure your research is done?

Jeff:    Do your research. Find out as much as you can about the other side. Start asking questions before not during the negotiations. When one feels well versed and confident then the research is complete.  It is always good to bounce things off of a partner to see if there is anything you are missing.

Me:      How do you avert the negotiations when the other party begins to try something shady?  How do you identify when this is happening, and how do you approach it with the other party?

Jeff:       One needs to determine when one will walk away. Always have an alternative plan. If it feels wrong it generally is. Don’t be afraid to walk suggest that you both think about the shady deal to confirm that it is shady.

Me:      What has been your most difficult negotiating experience to date? 

Jeff:    The most difficult tends to be one where the negotiating party was listening to another party trying to get the business of the negotiating party. Why? Overcoming that obstacle was a challenge in this case in particular due to the fact that they were in a different part of the country where pricing was different.

Me:      Do you have advice for people who may be new to negotiating?

Jeff:

1.     One of the most important things to remember is stop and listen.

2.     Do your homework

3.     Aim high and expect the best outcome.

4.     When you expect to do well it become self-fulfilling