What are some effective communication strategies for aircraft leasing negotiations?

1 Research your counterpart

Before you enter a negotiation, you should do your homework on the other party. Find out their background, goals, preferences, challenges, and pain points. This will help you tailor your offer, anticipate their concerns, and address their interests. You can use various sources of information, such as their website, social media, industry reports, and mutual contacts.

2 Establish trust and rapport

One of the most important factors in any negotiation is trust. You want to create a positive and professional relationship with your counterpart, based on mutual respect and understanding. You can do this by using active listening, empathizing, acknowledging, and mirroring. You should also avoid aggressive or manipulative tactics, such as lying, threatening, or lowballing, that can damage your credibility and rapport.

3 Use clear and concise language

When communicating your offer, you should use clear and concise language that avoids ambiguity, confusion, or misunderstanding. You should also use terms and concepts that are familiar and relevant to your counterpart, and explain any acronyms or technical terms that they may not know. You should avoid jargon, slang, or idioms that may not translate well across cultures or contexts.

4 Ask open-ended questions

One of the best ways to elicit information, clarify issues, and uncover hidden needs is to ask open-ended questions. These are questions that cannot be answered with a simple yes or no, but require more explanation or elaboration. For example, you can ask: "What are your main objectives for this lease?" or "How do you measure the performance of your aircraft?" Open-ended questions can help you discover the underlying interests and motivations of your counterpart, and create opportunities for value creation.

5 Handle objections and concerns

During a negotiation, you will likely encounter objections and concerns from your counterpart, such as price, terms, conditions, or risks. It's important to address these with confidence and respect, rather than ignoring or dismissing them. To handle objections and concerns effectively, you should listen carefully and acknowledge their point of view. Ask for more details or clarification if needed. Explain the benefits and value of your offer, providing evidence or examples to support your claims. Additionally, offer alternatives or concessions if possible and confirm their agreement or satisfaction.

6 Follow up and confirm

After you reach a tentative agreement, you should follow up and confirm the details and expectations of both parties. You should also express your appreciation and gratitude for their cooperation and collaboration. You should document the agreement in writing, and review it carefully for accuracy and completeness. You should also maintain regular communication and feedback until the lease is finalized and executed.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?