Yash Gavai's Key Ideas from The Negotiator's Pocketbook
by Patrick Forsyth

There is one more major source of power- 'Confidence'

If the other side believes that it is dealing with someone confident, organised and competent, it becomes less certain of its position.

Confidence comes from preperation, a structured approach, knowledge and belief on oneself.

In some merely harsh cases even if you don't feel the confidence, you can fake it, but don't overdo it.

1] AIM HIGH

Aim for the best deal. It is easy to trade down, but it is difficult to trade up. For this, devide the variables into 3 parts:

The must (what must be taken from the table in any condition), The ideals(what you intend to achieve from the ideal deal), The losses (what you can lose for the deal).

Good negotiators keep all 3 kinds of variables in their desk.

2] GET THE OTHER SIDE'S 'SHOPPING LIST'

How much can you intelligently infer or anticipate about the views of other side.

The more you know about other side, the better you can do.

Preparation, Experience and Questioning are three aspects that can help you to see through other side.

3] KEEP THE WHOLE PACKAGE IN MIND

Never ever underestimate the complexity of process of negotiation.

It is the interrelationship between all the elements that makes negotiation work. You need to keep all the elements in mind all the time.

4] KEEP SEARCHING FOR VARIABLES

Remain flexible while making any deals.

Do not wear your plan or initial intentions like a straight-jacket. Basic goals are crucial but changes occur. Adopt to those changes.

Good negotiators are quick-witted and quick on their feets.

1. Never Give Concession: Trade It Reluctantly

The first part of rule is important because the number of variables is finite and you want your share.

The second part is also crucial because perception is as important as fact. We must be seen to be driving a hard bargain.

2. Optimise Your Concession

Build up the value and significance of anything you offer to trade by:

• Stressing the cost to you (financial or any other)
• Exaggerating (credibly), that is not to overstate it
• Referring to a major problem you are facing while trading
• Implying that it is an exceptional concession

3. Minimise Their Concession

Reduce the value the other party puts on anything offered to you:

• Do not overdo the thanks. Use a dismissive 'thanks' instead a profuse 'Thank you so much'.
• While mentioning your profit, devide it into smaller units rather than quoting the total figure.
• Treat concession as granted. Treat them as if they were always a foregone conclusion.