Fascinating article based on a Wharton professor’s guide to negotiating for reasonable people.
Some of the key points:
Leverage – “In general, the person who feels better about “no deal” has the most leverage, and the person that’s less okay with “no deal” has the least leverage.“
Have specific justifiable goals – preparation is key here.
Establish and maintain trust – “If it’s not there, trust is the single biggest obstacle to a good deal.”
Get information – “More listening = more leverage.”
Concessions – “Link them with “if…then.” Make sure they recognize you’re giving up something of value so they feel the need to reciprocate.“
