Thought that would get your attention. But it’s true. What matters is only what they can give you. If these line up with what you want – super!  If it doesn’t – deadlock.

 

Do you walk into a negotiation focused on your objectives, KPI’s, metrics, etc.?  “We have to get a price of $1.00 or lower.” Do you become obsessed with your own goals? Guess what happens when you focus on an objective – you usually end up achieving it. In most cases, this is a good thing. But, in negotiation, not so much. 

 

Focus on the other party’s minimums or maximums. How high or low can they go? This should be your objective.  If they can give you a price of $0.90, what happens when they offer you $0.98? You probably run to the boss and tell them what a great negotiator you are. The fact is, you left money on the table. Money, which was yours if you had negotiated more effectively. You are not a great negotiator.

 

Having an idea of what you want to achieve is a good idea, as it provides direction. However, being obsessed with this target is self-defeating. You become stuck inside your own mind, rather than inside theirs. This is where the best deal sits. It will never sit inside your own mind or objectives. 

 

GREAT NEGOTIATORS ARE ALWAYS DEPRESSED

After every negotiation, a skilled deal maker should reflect on their performance. One of the most important questions is simply “did we take the other party to their breakpoint?”  “Did we get the best deal out of them?” Unless the answer is 100% “yes” (which it rarely is), you could have secured a better deal. That should make you mad; it should be depressing. It should force you to reflect – what could I/we have done better, and what will we do differently next time?

Focus on what the other party can give you, not what you want!  Strive never to be depressed.

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