Negotiating Tips, Negotiation Strategies, Planning for Negotiations, Business Negotiation August 3, 2009

Rules for Negotiations

Are there rules for effective negotiations? According to Anthony Tjan, founder of Cue Ball, a venture equity bill, there are four main rules for effective negotiations. He writes about them at the Harvard Business School blog. These are his four rules:

  1. Do your homework
  2. Don’t negotiate against yourself
  3. Get around stalemates
  4. Let the other party walk away

These are all very good tips and we have discussed some of them here as well. According to Tjan, the golden rule is the last one, willingness to allow the opposing party to walk away. Essentially, Tjan is saying one should stick to one’s guns. One should be straightforward with what one is willing to do and not to do.

Read Tjan’s article here.

Dr. Chester Karrass discussed 14 rules for winning in negotiation in his book: In Business as in Life—You Don’t Get What You Deserve, You Get What You Negotiate.

Here they are:

  1. Pick the best place and time to negotiate
  2. Have a “plan b” if the negotiation breaks down
  3. Be stingy with consessions and leave room to negotiate
  4. Buyers shouldn’t give seller quick counteroffers to their asking price
  5. Don’t say yes too quickly
  6. Buyers should always try to get cost breakdowns and sellers should not give them
  7. Don’t make the first major concession
  8. Watch concessions as deadline approaches
  9. Shut up
  10. Be skeptical
  11. Stop hoping for the best
  12. Watch out for funny money
  13. Know how to compromise
  14. You can always find a better deal for both parties

Are there rules you always abide by when you negotiate?

THE PROGRAM WAS GREAT! MY SEMINAR LEADER AND THE STRUCTURE OF THE COURSE KEPT ME CONSTANTLY STIMULATED. I NOW AM BETTER PREPARED TO GO INTO AN IMPORTANT NEGOTIATION MEETING AND STAY IN CONTROL, WHILE FINISHING THE MEETING SATISFIED.

Deanna D.
CASE MANAGER at THE JACKSON LABORATORY

IF YOU HAVE THE TRAINING BUDGET AND TWO DAYS TO SPARE, YOU'LL STRUGGLE TO FIND A PROGRAM MORE FAR-REACHING, ON-POINT, AND INSTANTLY IMPLEMENTABLE.

Jeff G.
BUSINESS DEVELOPMENT MANAGER at THE M.K. MORSE COMPANY

EXCELLENT COURSE, BRINGS MORE CONFIDENCE IN MY ABILITY TO NEGOTIATE. I THINK THIS COURSE IS A MUST FOR ALL EMPLOYEES WHO DEAL WITH CUSTOMERS.

John S.
CHIEF ENGINEERING MANAGER at EXXONMOBIL

THIS WAS VERY EFFECTIVE WITH A STRONG FOCUS ON BOTH-WIN NEGOTIATING.

Kathleen L.
SENIOR ANALYST at BLUE CROSS/BLUE SHIELD OF MICHIGAN

THE KARRASS CLASS WAS THE SINGLE BEST TRAINING CLASS/SEMINAR I HAVE EVER ATTENDED. EVERY TIME WE DID AN EXERCISE IT TAUGHT YOU WHAT TO DO DIFFERENTLY NEXT TIME. THANKS.

Kim C.
PROCUREMENT at AMERICAN EXPRESS

THIS PROGRAM HAS GREATLY INCREASED MY CONFIDENCE AND ABILITY TO NEGOTIATE FOR MYSELF AS WELL AS MY COMPANY.

LaDonna E.
SENIOR STRATEGIC BUYER at HALLMARK

THE NEGOTIATING CLASS WAS VERY INFORMATIVE. THE INSTRUCTOR PROVIDED AN INSPIRATIONAL MESSAGE THAT CAN BE APPLIED TO EVERYDAY LIFE.

Mary S.
INTERNATIONAL SOURCING at FMC TECHNOLOGIES

WE NEGOTIATE EVERY DAY OF OUR LIVES, BOTH PERSONALLY AND PROFESSIONALLY. THIS COURSE DEFINES THE PROCESS AND PROVIDES TECHNIQUES TO ACHIEVE SUCCESSFUL RESULTS.

Phillip H.
VICE PRESIDENT at GE

PRIOR TO THIS CLASS I FELT AS THOUGH I WAS GETTING EATEN ALIVE BY INTERNAL NEGOTIATIONS WITH SALES REPS. NOW I FEEL PREPARED TO CHALLENGE WHAT THEY ARE SAYING AND BET TO THEIR REAL NEEDS.

Steve Q.
PLANNER at HONEYWELL

MANY PEOPLE FAIL TO ACHIEVE THEIR POTENTIAL BECAUSE THEY DON’T SEE THE OPPORTUNITIES TO NEGOTIATE A WIN/WIN AGREEMENT WITH THEIR COLLEAGUES. THIS CLASS IS AN EYE OPENER TO THIS DYNAMIC..

Stuart B.
CONTRACTS MANAGER at HEWLETT-PACKARD
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