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, what's the most you'd be willing to pay?
- What's your plan B? Your "BATNA" - your best alternative to a negotiated agreement. What are you going to do if you don't reach an agreement?
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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 re...
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...
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...
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