Last Updated Mar 23, 2010 3:43 PM EDT
I like Anthony Tjan's quick list for sizing up a negotiation.
- Understand the big picture price / value you are trying to achieve.
- Determine which of the negotiation points are quantifiable.
- Bound the low and high values of each point.
- Create scenarios for both "edge cases" which might be of concern and for "likely scenarios".
- Re-prioritize negotiation points.
- Aggregate quantifiable points to see how they compare to the big picture you are trying to achieve.
"In the course of a negotiation many people end up negotiating on a point-by-point basis and without remembering the real value of any given point in the context of the broader ultimate goal. Making efforts to quantify the spread in a deal makes the negotiation much easier and can even eliminate points of negotiation."Read his full post for the gritty details. You'll feel much better entering your next negotiation.
Bruce Wasserstein: Dealmaking Tips From the Master (BNET)
Tips from the best dealmaker of his age.