Trust is one of the most important values whether in the intra-personal context of trusting yourself, or in the inter-personal context of trusting other people. Once trust has been broken, a relationship has difficulty resuming at its previous level, if at all. It is critical in negotiations and may require some negotiations training.
Trustworthiness is now a deciding factor as to whether a person will make it with an internet business or not. Everything a person does and says on the internet is recorded for posterity and can be communicated in an instant to millions of people by the different social networks and search engines. Establishing such trustworthiness may require some negotiations training.
How often has someone promised to do something and they have not followed through?
A phone call perhaps?
A favor they offered?
It has happened to all of us more often than we care to recollect. We then have the choice of continuing the relationship in business with a renewed perspective or taking our business elsewhere.
If it is in our personal life, again we can choose what we do. But what if you do not have a choice? What if you have to participate in a negotiation with someone you do not trust, someone whose reputation precedes them?
Here are five safeguards to ensure that you are taking whatever precautions you deem necessary.
Ensure that every deal point is measurable, as you learned in our negotiations training.
It is important to spell out every condition and term of agreement that is discussed, and immediately put it in written form. Read back what has been written and have each party sign the document or initial it with a clear printed name, and dated for future reference.
Categories such as customer satisfaction, preferred supplier, quantity of stock, intervals of supply, etc, everything needs to be specified to the very last detail.
Ensure that every deal point is time-bound
Time-bound implies, exact day, of which month, and if possible, a time-range that the agreed transaction will occur.
When will the installation be completed?
When will the product arrive?
When will the service be performed?
Build into the contract penalties for non-performance, as you learned in negotiations training. Whenever I drive to and from assignments, I always listen to audios from which I can learn or refresh knowledge. One of my favorite series is by Dr John Demartini, called: The Secrets to Financial Success.
In this series he shares numerous tried and true strategies for saving and investing. He talks about paying off debts based on paying those first that hold the highest financial [stated or potential] penalty. You need to keep this in mind when you transact with people so that you are one of the ones who is paid when the financial world of one of your customers has a lull.
If a product does not arrive on the date specified, what penalty do you have in place? Is the contract then null and void? Will the supplier be compelled to take $500 off the price for non-performance?
Build rewards for successful performance into the contract, as you learned in our negotiations training. Do you have a process in place for ongoing exceptional service?
Agree in advance on a neutral third party to be present
If this third party is not required at the outset of the negotiation, then you still need to agree on the appropriate person should the situation require this assistance in the future. Rather than resorting to suing each other, use your negotiations training to agree on the possibility of a mediator or arbitrator to resolve matters.
In summary, the benefits of a relationship built on trust far outweigh any price you have to pay for the rare occasion that you may get burned.
It has been said, that what you expect will eventuate, therefore, if you pre-frame a negotiation process with positive, trusting expectations of the participants and the process, this already sends out empowering energies. With trust, you can build lifelong win/win relationships.