Recently, I spoke with an individual who wasn’t happy with the deal they negotiated for themselves. I myself have had some deals I walked away from, and others I wish I had. So, I thought I would share some tips on negotiation:

  1. Go for what you actually want, not what you think you can have.
  2. Be willing to walk away. It not only strengthens your position, but it’s also healthy for you.
  3. Listen to and watch for red flags in the other person (gaps in character, communication breakdown, lack of follow-through).
  4. Consider extreme cases (extreme success or extreme failure). Can you survive both?
  5. Consider cash flow, not just profit (don’t bankrupt yourself on success).
  6. Have your criteria for what a good deal looks like before you walk in.
  7. Stick to your guns, unless you are completely OK with any compromises.
  8. Slow down if you are attached to a specific outcome (either fear or excitement).
  9. Use your voice in negotiation.

What else would you add?

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