Negotiating in Life, Negotiating Tips, Career Negotiation October 12, 2009

Do you make negotiating mistakes?

“The only real mistake is the one from which we learn nothing.” ~John Powell

Who doesn’t make mistakes? Nobody is perfect, and many of us may make some mistakes when we are negotiating. It’s only human, but learning to spot these mistakes may prevent them.

In his comprehensive negotiating book, Give and Take, Chester L. Karrass lists and categorizes several negotiating mistakes. Following are some to watch out for:

Power Mistakes
Underestimating your power
Assuming the other party knows your weaknesses
Being intimidated by status, statistics, precedents, principles
Revealing your power too early
Forgetting your opponent has something to gain from the negotiation

Concession Mistakes
Setting your initial demand near your final objective
Assuming you know what the other party wants
Accepting the first offer
Conceding without obtaining a concession in return
Losing track of concessions you’ve made

Closure Mistakes
Agreeing to a final agreement because of a time deadline
Being intimidated by the other parties “final” offer
Being afraid to break an impasse
Trying too hard to be liked in the final phase of negotiation

General Mistakes
Talking more than listening
Entering a negotiation with a chip on your shoulder
Discussing an issue that you have not prepared for
Not having a first-rate negotiating team on your side

How many of these mistakes have you made? Have you successfully avoided making them again?