The first rule of negotiating is to set your limit and stick to it. The foundation to all of your strength is walk-away power. The biggest reason to walk away is mental strength—if you ever go beyond your limit, even by a small amount, you're saying that your limit means nothing, that you don't really mean it, and that you'll go beyond it because you're weak and spineless. You need to walk away occasionally so that you'll be stronger next time.
- When you're preparing to negotiate,…the absolute most important thing you must do…is to set your limit, your walkaway point,…and then never go beyond it.…This means that if you're buying,…you decide the most you'll pay,…and if you're selling,…you decide the least you'll accept.…Beyond this point, you'll say no, and you'll walk away.…The reason why this walkaway number is so important…is that it's the root of all of your strength.…Having a walkaway point gives you…something to push back from,…like your back being against a wall.…
And if you know you'll walk away at a certain point,…it gives you power because the only power you have…in a negotiation is the power to walk away.…Put another way, if you don't have the power to walk away…and if the other person knows it,…then you have no power at all.…Most people are fine with a bit about setting a limit,…but they struggle with the second part,…which is about sticking to it.…On training courses, I play a little game…where I make everyone promise…that they'll never go beyond their limit,…
- Why we avoid negotiating
- When you should think about negotiating
- Planning your negotiation
- Calculating your opening offer
- Leveraging different negotiation tactics
- How to trade
- Determining if you should walk away
Skill Level Beginner
Negotiating Your Leadership Successwith Elizabeth Robillard1h 20m Intermediate
1. Decide to Negotiate
2. Planning Your Negotiation
3. Opening Offers
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