There are two ways to increase the profitability of a relationship. You can do it by taking big strides or small, incremental steps.
Big wins need big negotiations. In contrast, small wins can go under the radar, and a collection of them can be worth just as much as a big win. The greater the trust, the more numerous the opportunities will be. All you need is a front-line contact in your team who is trusted enough to be offered them, flexible enough to take them, and sufficiently well planned that each one takes you in the right direction.
Trusted:
The secret of creating trust is to demonstrate trust in the other party. This means being willing to help them out when they need it, and banking the goodwill so that they, in turn, will be willing to help your team out with your “small steps” when you ask for them.
Flexible:
To build up trust, your front-line team will need to be able to act quickly and flexibly, stepping in at short notice when their counterpart has been let down, or has a pressing deadline they need to hit. You need to give clear limits and guidelines within which they can operate, but empower them to use that flexibility fully to build the relationship.
Planned:
To capitalise on that trust, each member of your team must have a “pocket full” of small asks, pre-prepared and aligned to the longer term strategy. Having these ready means they can avoid the temptation to haggle or simply roll over when asked for help. Instead, they can use judgement and good timing to make consistent small wins as a result.
DO: Ensure your front-line team work ethically in this “grey area”. Ensure the trading partner is prepared to return trust with trust.
DON’T: Assume it’s natural for negotiators to trade in “goodwill”, especially when they’re newly trained. Make sure they get the coaching they need to understand how to work collaboratively in this space.