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BATNA

BATNA

Refers to your “best alternative to a negotiated agreement,” or the best outcome you can expect if you fail to reach agreement at the bargaining table with your counterpart.

An evaluation of your BATNA is critical if you are to establish the threshold at which you will reject an offer.

Effective negotiators determine their BATNAs before talks begin.

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Plan for the implementation stage

Place milestones and deadlines in your contract to ensure that commitments are being met.

Consider agreeing to meet at regular intervals throughout the life of the contract to check in and, if necessary, renegotiate.

In addition, adding a dispute-resolution clause...

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Listen actively

Resist the common urge to think about what you’re going to say next while your counterpart is talking and listen carefully to her arguments, then paraphrase what you believe she said to check your understanding. 

Acknowledge any difficult feelings, like frustration, behind the messag...

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Ask good questions

Ask good questions

Ask lots of questions that are likely to get helpful answers.

Avoid asking “yes or no” questions and leading questions, such as “Don’t you think that’s a great idea?” and craft neutral questions that encourage detailed responses, such as “Can you tel...

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Contingent contract

Contingent contract

In essence, a bet about how future events will unfold.

Works best when negociations get stuck because of disagreements on how certain scenarios will play over time.

E. g.: if you doubt a contractor’s claims that he can finish your home renovation pr...

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Search for smart tradeoffs

Try to identify issues that your counterpart cares deeply about that you value less. Then propose making a concession on that issue in exchange for a concession from her on an issue you value highly.

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Building rapport

Building rapport

You and your counterpart may be more collaborative and likely to reach an agreement if you spend even just a few minutes trying to get to know each other.

If you’re negotiating over email, even a brief introductory phone call may make a difference. This is one of the most...

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Present multiple equivalent offers simultaneously

Rather than making one offer at a time, consider presenting several offers at once. This strategy of presenting multiple offers simultaneously decreases the odds of impasse and can promote more creative solutions.

If your counterpart rejects all of them, ask him to tell you which one he lik...

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Negotiate the process

Carefully negotiate how you will negotiate in advance. Discussing procedural issues will clear the way for much more focused talks.

Don’t assume you’re all on the same page when it comes to determining when to meet, who should be present, what your agenda will be, and so o...

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Being aware of the anchoring bias

Being aware of the anchoring bias

The first number mentioned in a negotiation, however arbitrary, exerts a powerful influence on the negotiation that follows.

You can avoid being the next victim of the anchoring bias by making the first offer (or offers) and trying to anchor talks in your preferred direct...

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CURATED FROM

CURATED BY

harleyjj

Deep thinker. Like talking about the world, religion and politics.

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Get clear on your negotiation goals

There are 3 key questions you should ask yourself:

  • What's the best possible outcome
  • What's your bottom line? This refers to the least acceptable offer. If you're the seller, what's the lowest offer you'd be willing to accept? And if you're the buyer,...

Have An Alternative

Having an alternative, a second job offer with you makes your negotiation game stronger, as the employer knows that you can simply walk away. Having the offer from a prestigious company also strengthens your perceived market value.

Having a BATNA (Best Alternative To a Negotiated Agreement...

When the other party is more powerful

When the other party is more powerful

The weaker party can be protected against a poor agreement by developing a BATNA - the Best Alternative to a Negotiated Agreement.

The reason you negotiate is to produce something better than what you can obtain without negotiating. Without a BATNA, you will negotiate bli...

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