Tips For Business Negotiations

Business negotiations are often a high-pressure, high-risk situation when any number of things can go wrong and the outcome could shake your company to the core. Like most other business advice you’ve heard, effective negotiating starts with a clearly and thoughtfully designed approach, starting with identifying your goals. Do research. Being able to backup your pitch/position with objective facts is just as important as the way it is delivered, and knowing your counter-party’s shortcomings and strengths will help you devise an effective strategy. It is also very important to know what’s at stake; meaning that you know ahead of time what you can afford to give up and when to walk away if the deal develops towards an agreement that will not help you fulfill your goals.

 

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