Preparation for the Negotiation
Commercial OPTIONS in the RONO™ Model
Strategy development and negotiation preparation are about adding value.
Adding value is about developing OPTIONS
“What are the OPTIONS?” is one of the most frequently asked questions in the commercialisation process – and rightly so. This question should be asked at every point of your commercialisation process.
By generating and recognising OPTIONS, you have the ability to shape, control and strengthen your negotiation position by:
- generating flexibility in arguments
- developing leveraging strategies
- having greater flexibility to influence the direction of the negotiation
- generating competitive positions from which you can choose
- having greater influence on your desired outcome.
It is in the all-important preparation stage that OPTIONS are incorporated in negotiation strategies if value in the transaction is to be optimised.
RONO™ advocates that creating OPTIONS is one of the most effective strategies which can add significant value to any commercial transaction.
RONO™ advocates rigorous preparation for the NEGOTIATION PHASE by continuously creating, reviewing and recognising OPTIONS which can be adopted in all negotiation strategies.
Expected Outcomes of the Options Phase
The expected outcomes of the OPTIONS PHASE, before the commencement of formal negotiations, are for you to:
- be fully prepared for the NEGOTIATION PHASE
- have created and reviewed options available in all aspects of the transactions – down to the words which could be used in final documentation
- have identified the value contribution of each Option
- incorporate Options in the negotiation strategies especially those which provide a FLEXIBILITY, LEVERAGE, and COUNTERS
- have selected an effective team, and
- have established your WALK AWAY position.