Negotiation tactics - Deepstash
Negotiation tactics

Negotiation tactics

Every business owner needs to learn how to negotiate. 

It's important to recognize when tactics are being used in an attempt to best you in a negotiation.

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MORE IDEAS FROM 10 Dirty Negotiation Tactics and How to Beat Them

  • Left at the altar - This tactic often yields 11th-hour concessions. 
  • Making balloon futures - A service is forecasted to be worth more before it's performed.
  • Calling a higher authority.
  • Crunch time - Where the other party applies pressure.
  • Bring in the dancer - Distracts by long talks without saying anything substantive to the issue at hand.
  • Re-trading the deal - Other party tries to reopen points from a closed agreement.
  • Huntley and Brinkley - Two people for the other party team up against you at the same time.
  • Turning Soviet -  Your side is not considered in the deal.
  • The walkout - Deliberately walking out of a negotiation to show disinterest.
  • Roaring brains - People that talk a lot with no real experience in a particular area.

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RELATED IDEA

The most successful negotiators don't entertain dirty tricks in negotiation but instead strive to reach agreements that are satisfactory to both parties.

But if you find yourself on the receiving end of something that doesn't feel quite right, provided you recognise what's happening, you can address the situation and swiftly bring it back to a better place.

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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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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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