Secrets of Power Negotiating: Inside Secrets from a Master Negotiator Book

Good book on transactional negotiating.


Quotes:

"So Power Negotiators are careful that they don't fall into the trap of saying yes too quickly, which automatically triggers in the other person's mind the following: I could have done better, and next time I will. A sophisticated person won't tell you that he felt that he lost in the negotiation, but he will tuck it away in the back of his mind, thinking "the next time I deal with this person I'll e tougher negotiator. I won't leave money on the table next time.""

"Never say yes to the first offer or counter offer from the other side. It automatically triggers two thoughts: I could have don better (next time I will), and something must be wrong."

"The big danger is when you have formed a mental picture of how the other person will respond to your proposal and he or she comes back much higher than you expected. Prepare for this possibility so it won't catch you off guard."

"Flinch in response to a proposal from the other side. They may not expect to get what they are asking for; however, if you do not show surprise you're communicating that it is a possibility."

"Respond to a proposal or counter-proposal with the Vise Technique: "You'll have to do better than that." If it is used on you, respond with the Counter Gambit, "Exactly how much better than that do I have to do?" This will pin the other person down to a specific."

"Concentrate on the dollar amount that's being negotiated. Don't be distracted by the gross amount of the sale and start thinking in percentages. A negotiated dollar is a bottom line dollar. Be aware of what your time is worth on an hourly basis."

"Indifference is your problem, not objections, because there is always a reason for objections and people just may change their minds."

"Don't let the other side know you have the authority to make a decision. Your higher authority should be a vague entity and not an individual. Even if you own your company, you can still use this by referring down through your organization."

"Attempt to get the other person to admit that he could approve your proposal if it meets all of his needs. If that fails, go through the three Counter Gambits: Appeal to his ego, get his commitment that he'll recommend to his higher authority, go to a qualified 'subject-to' close."

"Any time you make a concession to the other side in a negotiation you should ask for a reciprocal concession right away. The favor you did the other side loses value very quickly."

"Negotiate your fee before you do the work."

"Never offer to split the difference yourself, instead encourage the other person to offer to split the difference. By getting the other side to offer to split the difference, you put them in a position of suggesting the compromise. Then you can reluctantly agree to their proposal, making them feel that they won."

"By resolving the little issues first, you create momentum that will make the big issues much easier to resolve. Inexperienced negotiators always seem to think that you need to resolve the big issues first. "If we can't get together on the major things like price and terms why waste much time talking about the little issues?" Power Negotiators understand the other side will become more flexible after you've reached agreement on the small issues."

"Don't confuse an impasse with a deadlock. True deadlocks are very rare, so you've probably reached only an impasse."

"Handle an impasse with the Set-Aside Gambit: "Let's just set that aside for a moment and talk about some of the other issues, may we?""

"Create momentum by resolving minor issues first, but don't narrow the negotiation down to only one issue."

"The way that you make concessions can create a pattern of expectations in the other person's mind."

"Don't make equal-size concessions, because the other side will keep on pushing."

"Don't make your last concession a big one, because it creates hostility."

"Never concede your entire negotiating range just because the other person calls for your "last and final" proposal or claims that he or she "doesn't like to negotiate.""

"Taper the concessions to communicate that the other side is getting the best possible deal."

"Why are people reluctant to gather information? Because to find things out, you have to admit that you don't know, and most of us are extraordinarily reluctant to admit that we don't know."

"The courage to prove for more information, the patience to outlast the other negotiator, the courage to ask for more than you expect to get, and the integrity to press for win-win solutions, the willingness to be a good listener."

"The willingness to live with ambiguity...a competitive spirit...no strong need to be liked."

"The longer you project that you have a consistent set of standards from which you'll never deviate, the more people learn to trust you. From that trust grows a tremendous ability to influence people in a negotiation."