Patience -- A Negotiation Virture

Earlier this week, we discussed keeping your cool. Getting emotional can derail a negotiation, and so can being impatient. In fact, Dr. Chester Karrass advocates using patience as a negotiation tactic.

Dr. Karrass believes patience is one of the MOST powerful negotiation tactics. Patience, in conjunction with persistence and determination, can help you win at a negotiation table.

During a negotiation, patience means being willing and able to bear the situation, and not being rushed into a decision because the other party is looking for a resolution. Patience is a long-term tactic because the expectation is that you will gain more by waiting than by seeking a quick end to the negotiation.

The reason patience is so powerful is that it gives you the gift of time.

What can additional time do for you?

• Help you to really understand the issues
• Allow you to explore the other side’s expectations
• Discover the risks
• Test your opponent’s determination
• Find new alternatives

Time also allows more information to be shared, and with this knowledge, you are in a better position to negotiate an outcome that may be more beneficial to both sides.

Patience is also a powerful tactic because it functions as a testament to your resolve. When the other party thinks you are resolute, you may obtain more concessions.

Perhaps Saint Augustine put it best when he said “patience is the companion of wisdom.”

Have you had a negotiation succeed because of your willingness to be patient? Please share your stories with us in the comments.