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StreSERT Services Limited and 

1. Never Assume: Clearly define the scope of the engagement, such as meeting venue, agenda points, presenting parties and focus of negotiation before the process. Ensure that all parties have the same understanding of the scope, and get them to acknowledge their understanding formally.2. Adaptability: The ability to determine what is most important to you during negotiation is a skill to possess. Parties may decide to change demands at the last minute, so you must be able to adapt the scope and structure to suit your goals while ensuring that it remains profitable. You must also ensure that the new structures are in accordance with best practices. 3. Have a clear idea of your value: The greatest asset to have when going into a negotiation is a clear idea of the value you bring and the outcome you expect. Furthermore, patience is required as decision-making is a process that may take some time. Be careful not to erode your brand or reputation by settling for anything that is unsustainable or against your values.

Here are some other salient points to note:

• Always try to present the value you are bringing in tangible and economic terms, even where the economic value is not easily quantifiable. It allows for a clear cost-benefit evaluation of the engagement. Where possible, provide an approximate EVA – economic value added.

• Explore and present alternative solutions where possible or applicable.

• Present similar solutions offered to other clients and the benefits derived therein.

In conclusion, it is important to note that establishing a common ground is a sure-proof way to have a win-win situation. You should always identify areas of common agreement, and then seek to understand the other parties' point of view. While engaging, listen for cues that speak to the areas that resonate with you and leverage those while negotiating.

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