If you don’t know what you are attempting to accomplish, it is virtually certain you won’t get there. Often, you aren't just negotiating for a good price, but adequate quality dates that need to be met and as little aggravation as possible. Before entering into a negotiation, sit down and think about -- and if it helps, write down -- what you seek to accomplish and prioritize your needs.
The other side has needs, too. They want what you are selling. They may want your endorsement, they may want credit for the deal, and they may need to hit a certain commission threshold. If you know both what you want and what the other side wants and can map priorities, it sets a negotiation foundation that should get to an acceptable agreement more quickly.
Negotiations are hard. We don’t do them often and, as a result, we rarely do them well. We often leave the negotiation table feeling like we did poorly or that the other side took advantage of us. In “Negotiating a Contract: How to Waste Less Time and Get Better Deals,” Rob Enderle looks at contract negotiation as a skill and provides strategies that have proven to result in more favorable deals, less chance of litigation and better overall outcomes.
We’ve highlighted these contract negotiation strategies in this slideshow.