The three indefatigable pillars of kickass negotiation

shake hands negotiate dealWe have talked about Negotiation here at BizDharma couple of times. We tried to learn what are the general misconceptions and some to do stuff that even a 725 year old fable can teach you, before you are about to negotiate. But many a times we are faced with a very basic fear of not able to negotiate well. We think we don’t have what it takes to be a kickass negotiator. Relax. This is what even those smart negotiators also feel at time. But I have a quick cheat sheet for you to refer.

Every, rather any, Negotiation if has to be successful, has to reside on one of the three key pillars. If you are able to capitalize well on even one and manage the other two at satisfactory levels, it’s guaranteed that the deal would be in your pocket.

So what are the three pillars? They are as follows

  1. Time
  2. Information
  3. Power

Yes that’s it. And I repeat – If any of these three are tamed well any deal will be in your pocket. Whether its salary negotiation, real estate negotiation, price bargaining in markets or any kind of deal you can think of, this will work. If you doubt carry on as I explain.

Time – Time as they say is most powerful. It waits for none. Ask the importance of time to a trader who sold his shares just a few seconds before the prices really ticked! Take this example why do malls have a – buy 2 get 5 free kinds of schemes. They know it’s the sale season and we are out as hungry dogs to gather whatever we can. We know the sale will be there again next month / quarter / year but still take the plunge today! As if who knows if the sun will rise tomorrow !! The “as seen on TV” products always shout after their ads, “if you call in next 15 minutes we add xxx as bonus to you”. Now if these buy 2 and get 5 or call in next 15 minutes schemes wouldn’t have pushed us, do you think we would have bought our stuff. That in advertising or marketing is also called “Call to action”.

Information – Its many a times quoted, Information is Power. The one who knows what stuff to buy, from where to buy and what price is the right price is the one who wins. Isn’t it? Do you know the competitors price when you are bargaining with your vendor. If not you are at a serious disadvantage. Or as a vendor do you know what can you provide which is way better than choosing the second best alternative? Do you know that the agent who tries to sell you with a “take it or leave it” bargain has not made a penny from last quarter. He may seem rude, uninterested and choosy but in his heart he is pleading “Please take it for god sake. I have a girlfriend to shell cash on”. And BTW if he is seriously not interested bid him adieu. He’s not worth you.

Power – What else can be required on earth to rule? Power is simply the one thing we want. We try to gain more knowledge, more money, more fame and more of everything that can be possible just to be more powerful. You know you were working hard from last six months like an ass and now when you want a leave the boss says – “Sorry, there’s too much work. Why don’t you take an off next month?” What else can you say to this? He is powerful. You can just nod and say “Yeah, Even I was sleeping from last six months. I believe you are right I need to work more hard to get this stuff done”. Whatever you need to do, you need power. Period. This can come from various sources but the first step to understand is that Power is indefatigable!

In next couple of months will try to elaborate more on these pillars of kickass negotiation. By that time do leave your feedback here about how you liked the post.

“Start out with an ideal and end up with a deal”Karl Albrecht



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{ 2 comments }

Young October 16, 2009 at 1:02 am

I think the power is the most important thing during a negotiation.

Walter October 29, 2009 at 6:23 am

The three pillar you have mentioned are extremely important factors to consider when making negotiations. However, if the negotiator doesn’t have the skill to weave these factors, then it makes no sense. :-)

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