Every business owner needs to learn how to negotiate. It's important to recognize when tactics are being used in an attempt to best you in a negotiation.
Here's how to spot 10 tactics that many negotiators use. These have nothing to do with the win-win successful agreements of a good negotiation. Learn what to do when somebody pulls these tricks. Awareness of these tactics can strengthen your own negotiation skills.
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Left at the altar - The other party feigns backing out of a deal just before you are ready to complete the agreement. Hoping the tactic brings the other party closer to their position, the tactic often yields 11th-hour concessions.
Your countermeasure: Don't fall for the bait. Let the deal drop and go through a quiet period. Try resurrecting the deal after no less than 30 days, or when the other party calls you. At that point, it will be your turn to get concessions.
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Making balloon futures - The other party forecasts future sales growth, which is accelerated from historic averages. This is similar to the "call-girl principle," in which a service is worth more before it's performed.
Your countermeasure: Base your decision or price only on past history. Make future bonuses or payouts available if accelerated growth actually happens.
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Calling a higher authority - The other party says that they are unable to make a final decision or won't tell you who the final decision maker is.
Your countermeasure: Stop negotiating until you are discussing directly with that decision maker. You are wasting your time and energy.
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Crunch time - The other party applies a lot of pressure by saying, "that's nonsense, you have to do much better than that."
Your countermeasure: Use the "flinch" tactic, showing shock and amazement that this issue has been raised. Repeat the offer you just made.
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Bring in the dancer - This is when a member of the other party talks for a long time without saying anything substantive to the real issues. This is usually intended as a distraction. This can also be a snow job, bringing in unnecessary data to support the other party's position.
Your countermeasure: Ask, "specifically, what does this have to do with what we are talking about?" Rep