Leave money on the negotiating table!

Here are five key tips to help you lose money, confuse your own team and help the other party gain the advantage at the negotiating table: I Avoid making an agenda. The last thing you want is for both sides to know about what points come next. There's plenty of time for chatting about whatever comes to mind - especially when the other party asks you what you want to talk about. They will be impressed by your flexibility.

Go into the negotiation unprepared preparation is a waste of time. Besides, you already know everything there is to know. It doesn't make any difference who else is at the table. You have your price and terms. They simply will have to take it or leave it. Your conditions are the best anyway. And, of course, you'll impress your boss with the ability to think on your feet.

Alternatives only complicate the negotiation. Be sure to stick to your one and only goal, no matter what! Finding alternatives to the problem only makes the whole negotiation more complicated, extends the length of the negotiation and keeps you away from more important problems at your desk. Don't consider any alternatives from the other party, either! They're only trying to hide something from you and obscure the issue at hand.

Focus on your own interests. Don't worry about listening to what the other party wants or needs! It's only important that you reach your goal, regardless of what they want. Above all, don't ask any questions! This just brings in more details, which will distract you from your goal.

Remember, time is money. So get directly and immediately to your goal. Interrupt if you have to. It's not important what the other side says, anyway.

Avoid clear roles Always have at least five members of your team at the negotiation table! The more, the better! But be sure that everyone speaks - preferably at the same time! Save time beforehand by first discussing your internal viewpoints while at the table and not before. But be sure to whisper, so that the other party doesn't hear what you resaying. Remember also to keep key information from your own members for as long as possible. They will applaud you on your ability to keep a secret.

by Chris Liebenthal on June 14, 2011

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