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Sign into your account5 Key Factors to a Successful Negotiation
November 20 2014
I have been involved in literally thousands of negotiations over the years. Over that time, I have learned that there are five key factors that play a very large role in determining the success of a negotiation.
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If at all possible, the buyer and seller should never negotiate directly. Nothing good can come from this! It's all downside with little potential upside.
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The less surprises the better. Layout all the facts as early as possible, so that all parties are clear on their conditions.
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Each party should be able to back up their position. There are no requests "just because." There must be logic behind all requests. Otherwise it's unreasonable.
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Transparency is your best tactic. Nothing can muck up a deal more—or cause distrust—than one party changing their tune after an agreement has been reached.
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Don't let egos get in the way. Egos are deal killers! When you bring your ego to the table, you're negotiating against yourself, and hurting your client's best interests.