From the course: Strategic Negotiation
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Setting up for future deals
- When you go through any negotiation process, you have to realize that this deal sets up future deals. Consider this negotiation's impact on future negotiations. If you don't, you potentially can make some huge mistakes. Every deal sets precedent for the next one in terms of the numbers, the terms you come to, as well as the tone of that negotiation. For example, if you're selling a service and you decide you're going to set a discounted rate upfront, set your list rate and then offer a discount off of that, versus just offering a lower rate without talking about the discount. Why? Because that rate is going to become permanent. So if initially you set a rate here and say "The first time out, "I'm going to offer you a discount," but then you can go back to that initial rate. If you set the rate here to start, you're going to be stuck there. I have this conversation with my instructors when we bring on new clients.…
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