Thread by @Aazarshad

Everyone thinks they are great negotiators, but most of us simply are not.

Here are 17 useful insights to be a better negotiator in startups deals, sales, and salary discussions:

1/ Remember that few are good at negotiating (this includes your opponent).

2/ If you are a poor negotiator, then set a limit on what you will pay or accept and on any conditions attached

3/ Most negotiations are unnecessary. Don’t negotiate unless you have to.

4/ Do your homework. –– what you don’t know could kill you.

5/ The devil is really is in the detail. Get all professional help you can trust.

But do not surrender control of the negotiations to such professionals.

They won’t live with the consequences - you are. They are there to explain and advise only.

6/ If your advisors are leading you down a path you don’t approve of during your negotiations, call a “time out”.

Tell them privately that if they continue along that route you will get yourself some new advisors. The world is full of them.

7/ Never fall in love with the deal. It’s just a deal. There will be more.

8/ Avoid auctions (unless you are selling something).

9/ The person across from you isn’t your friend, he isn’t your partner, he is your enemy.

10/ Don’t be afraid to be passionate and emotional but keep it under control.

Use emotions with courtesy, and, if possible with wit or flattery.

11/ Listen when engaged in serious negotiations. Then, listen some more. You are in no hurry.

Nobody ever got poor listening. Also, use silence as a weapon. People tend to fill silences with jabber, often weakening their bargaining position as they do so.

12/ Choose a rogue (unique insight) element to your advantage and bring it into the negotiation at a late stage.

You’ll be amazed at how often this tactic produces results

13/ Divide and rule. It always works.

There may be slight differences in the individual approaches of their senior managers and possibly, in their goals. Drive a wedge and keep hammering.

And, never permit such weakness in your own camp.

14/ If you’re a bad negotiator, don’t attend. You make the decisions but someone else deals the blows.

15/ Establish where the balance of weakness lies in any serious negotiation. Strengths are self-evident. Weaknesses, less so. Ferret them out.

16/ Whatever you agree to during a negotiation, fulfill the bargain. Nobody wants to do business with a weasel or a chisler.

17/ One thing I learned is - Use “time” to your advantage. See if your opponent has to make a decision quickly, and then take it slow on your term.

Most of these lessons are from the late Felix Dennis, a billionaire.
He claims it has helped him come out on top in most business deals.

He shared it in his book, How to get rich (highly recommended). Thanks to @theSamParr for sharing it with us.

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I write about growth & marketing. I share my insights every week.

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