As 2023 comes to a close, it’s time to look back on the year and reflect.
Here at RED BEAR, it’s been a year of growth and opportunity. We’ve celebrated our 10th anniversary, given back to our loyal customers, published articles across top industry publications, built up our own internal training resources, and, of course, trained leading sales, procurement, and cross-cultural negotiation teams in the skills and knowledge they need to craft profitable, value-based agreements.
In the spirit of reflection, let’s take a look at some of the top articles from the RED BEAR team in 2023.
1. The Ultimate Guide to Sales Negotiation Training
First on our list is our Ultimate Guide to Sales Negotiation Training. This in-depth article covers everything from rising trends in sales to effective strategies to combat common issues in everyday negotiations.
From understanding changing buyer behavior to unlocking the power of RED BEAR’s Negotiation Principles and Behaviors, this one covers it all. It also delves into our Sales Negotiation Training workshop, which is geared toward helping your team learn how to effectively move back and forth between the Competitive and Collaborative Negotiation Dimensions to unlock the power of creative problem-solving.
It’s a must-read for any sales professional.
2. Improving Profitability: The Ultimate Guide to Procurement Negotiation Training
Procurement isn’t just about purchasing products or services; it’s about building partnerships, managing costs, and steering the company toward profitability and growth.
In this in-depth piece, procurement professionals will learn all about how the RED BEAR negotiation methodology works in procurement settings and why the right tools and knowledge matter. It covers not only the Dimensions of a Negotiation, but also the Behaviors and Principles that are the foundation of successful procurement outcomes.
Put these tools into action with scenarios for every possible situation, whether that means dealing with vendors, suppliers, purchasing managers, or any other procurement professional.
3. AI’s Rising Role in Business: Why Negotiators Remain Irreplaceable
Love it or hate it, AI is here to stay. While many business leaders and everyday employees are starting to fear the AI revolution, this article explores the often-overlooked qualities that AI simply can’t replace.
Negotiation, in particular, is a uniquely human experience. One that an AI model won’t be taking over anytime soon.
Here’s a little taste of what this piece covers: “Negotiation is a complex process. It involves not only the transactional aspects of deal-making but also the intricacies of human interaction and psychology. To get it right, skilled negotiators need to understand the needs, interests, and positions of all parties involved. They also need a firm grasp of the principles and behaviors that drive successful negotiations.”
4. 5 Ways to Upgrade Your Procurement Negotiations
Published in Supply & Demand Chain Executive, this article covers some actionable strategies negotiators can employ to tackle common procurement challenges.
Authored by RED BEAR Senior Instructor Shawn Malone, you’ll learn how to align strategies across an organization, build a set process for success, manage everyday supply chain stressors strategically, target cost control, and look to your supplier base for innovative solutions.
As Shawn says, “More than ever, skilled negotiation teams are a necessary component of a strong supply chain organization. Tools, training, and negotiation processes empower procurement negotiators to negotiate from a position of strength and build supplier agreements that reflect the strategic business goals of their company.”
5. RED BEAR Insights: Planning for a Possible Manufacturing Supercycle
While inflation woes have hit virtually every industry, there is one that seems to be on the cusp of a fairly significant boom. This article explores the massive gains in the manufacturing industry and offers some strategic insights into how teams can prepare for the possible upcoming supercycle.
It all starts with building strong supplier relationships. More than that, though, negotiation teams need to understand the power of diversification and learn to manage their risks effectively.
“Teams will need to understand the value of principled approaches to negotiation that don’t rely on simple tactics or single-use strategies. They’ll need to develop comprehensive perspectives that highlight the universal fundamentals that drive all successful negotiations.”
Bonus: Introducing The Confident Negotiator Podcast from RED BEAR
6. 3 Ways to Use Procurement Negotiation to Combat Inflation
How can businesses fight back against inflation? This article from RED BEAR’s Mike Slomke, published in Supply Chain Management Review, tackles this topic in detail.
For Mike, finding value, creating processes, and investing wisely is the key to success in this tense fiscal environment.
He explains, “Unprecedented inflation combined with service-level degradation and ongoing supply chain disruptions means procurement negotiation is more important than ever to business profitability. Defining a negotiation process, standardizing negotiation language and vocabulary, and training procurement teams across the enterprise on each are critical components to fighting inflation.”
7. Navigating Cultural Differences: Recent Trends and Challenges in Cross-Cultural Negotiations
The negotiation landscape is always changing, especially when it comes to cross-cultural negotiations. This article from the RED BEAR team covers recent changes in the ways we communicate, global supply chains, and some other key shifts in the international business community.
Most importantly, it touches on the shift away from the purely online interactions of the COVID-era and the in-person travel bounce back, covering some statistics and trends that business leaders won’t want to miss.
8. Building a Negotiation Process: Get It Right Every Time
Is your team walking into each negotiation with high hopes and little to no plan, or are they coming properly prepared and ready for anything? One key factor that separates the negotiation amateurs from the skilled professionals is a proper planning process.
This article delves into the importance of effective negotiation planning and explores the phases that every negotiation team must move through to set themselves up for success. It also unpacks the value of a well-prepped concession strategy and its benefits. “A powerful concessions plan is critical to building relationships, setting targets effectively, and getting value from each negotiation session.”
9. The Value of Making Concessions to Close the Deal
Speaking of concessions, our next article on the list explores this concept in even more detail. Concessions happen. Either your team is prepared and ready to navigate a fruitful give-and-take process, or they cave in on the first sign of pushback.
Whether it’s setting the right targets, valuing concessions as an essential resource, or adhering to a give-and-take methodology, this article outlines the right way to approach concessions. This kind of strategy not only gets the best possible outcome for both parties but can be the key to forming long-term relationships with clients that pay off time and time again.
10. B2B Buyer Behavior Has Changed, and It is Shifting Dynamics at the Negotiation Table
Last on our list is our article covering the changes in buyer behavior and their impact on negotiations. Today’s buyers are well-informed, prefer self-service, value transparency, and aren’t as tech-dependent as you might think. By diving deeper into these changes, negotiation professionals are better able to navigate the evolving landscape with confidence.
One standout insight? Buyers are spending less and less time with sales reps. “55% of buyers in B2B decisions estimate that the length of their time to buy has increased significantly. Sales reps get about 5% of that time, most of it being spent solo by the buyer, anonymously gathering information.”
This means that sales teams need to make the most out of the time they have and develop strategies that make a lasting impression — like the ones that are at the foundation of the RED BEAR negotiation methodology.
Start 2024 Off with Negotiation Training That Gets Results
So, there you have it, some of the most read articles from the RED BEAR team. As we approach 2024, one thing is for certain: our commitment to transforming individuals into world-class negotiators is stronger than ever.
Each article on our list represents a strategic take on an essential business skill that isn’t going away any time soon. Whether it’s external negotiations with suppliers, tense sales negotiations with long-term clients, or internal negotiations around projects and initiatives, the right skills and training matters. Don’t settle for manipulative tactics or one-time use strategies. Get the training your team deserves with RED BEAR. Not only are our methods utilized by over 45% of the Fortune 500, but for every dollar invested into our workshops, our clients receive, on average, $54 back.
That’s the power of effective negotiation skill training; that’s the power of RED BEAR.
Get in touch with the team today to learn more about your training options.
