Here are some of my basic rules for important negotiations. There are many others but here’s a few important ones.
- If you want 3 things in your negotiation ask for 9, that way you can let the other party win a lot of points and you might get most of what you want.
- It’s very important to act like you want the deal but you don’t need it. When people seem like they need something badly, they usually give up too much.
- Never have an important negotiation over lunch or dinner. When you’re business is over you want to be able to end the meeting; if you’re not finished eating, the deal might run into problems that you wouldn’t have had if the meeting had ended earlier.
- When possible, try to have the meeting at your location. It’s like sports, when you’re on your home turf you seem to have a little edge.
There are many other fine points of negotiation, but these are a few of the important ones.
I can’t remember how many times over the years that I would ask for something from a business, that would seem to be easy to do, and was told we can’t do that or we don’t do it that way or basically every excuse in the book not to do what I wanted. Even if it was easy to do, I would still get no answers.
Smart bosses teach their help to JUST SAY YES if it’s possible. The answer should be we can do that. I’ll find out if there’s an extra charge and how long it will take and let you know.
Owners seem to forget that they’re in business to please the customers, not themselves. If you can do that you’ll most likely have a successful business.
The biggest waste of time is thinking about yesterday and tomorrow. We can hardly do what needs to be done today, let alone wasting so much time about the past and the future.
I have to be really specific here. You can’t gain wisdom unless you learn from the past. All experience comes from the past, so I’m not saying to forget the past. I’m saying quit wasting time thinking about the good old days. Take from it what you need and go forward.
The same holds true for tomorrow. It’s okay to have plans for the future, the problem is that too many people keep making plans and dreaming about their future but they never do anything about it. Work towards your plan and goals but do what you have to do today. It’s the only moment that exists.