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1. Don’t Negotiate Unprepared
Negotiation is a strategic activity where preparation and knowledge are key to success. One should never attempt to negotiate unprepared since you will be playing to the tune of your counterpart. Don’t yield to pressure when asked for a decision. Be firm and ask for time to consider your alternatives.
If you haved watched the movie, you can clearly see that Team Cap was unprepared to negotiate. Team Iron Man walked in with a take it or leave it proposal. Instead of asking for time to negotiate, Team Cap merely accepts the two conditions proposed as the only alternatives.
This scenario happens in real life. Someone tells you you have no other choice but to accept their proposal. Usually, when you have not done your research or planned your influencing and negotiating strategy, you’ll be swayed by your counterpart. In the simple day to day case of haggling, if you do not know the market rate, then it will be difficult to gauge the price points to haggle within.
But what do you do when your counterpart uses time pressure to push you to make a decision?
Read on the next steps:
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