Whether it is a high-stakes deal, the price of a used car, or a family issue, we all are bargaining and getting into negotiations.

We need to know what's the most relevant and persuasive criteria.

Once we can find out what the shared interests are, we can find many ways to address certain demands of the negotiating party which may not be a hassle for us.

In any negotiation, good communication is key.

A negotiation does not have to be a uni-dimensional, one-shot activity.

There can be scenarios where you will not be able to reach a deal, so it is advisable to always have an alternative, a Plan B, or a back-up with you in any negotiation.

Sometimes negotiation is not about the immediate goal of the discussion but about the larger picture.

Knowing the other party's needs, wants and desires, getting to know what drives their negotiation, is crucial information in the planning stage.