Think Like A Negotiator

Creating Win Win Results and Understanding the Pitfalls to Avoid

Be Willing to Walk Away

Be willing to walk away, also known as “take it or leave it” is a great strategy to get the other side to agree to your deal. Of course in order for it to work, you have to be willing to walk away and cancel the entire deal.

IF you don’t want to get this direct, don’t use this strategy. If you waiver from this position, it won’t work and will most likely cause an overall negative impact on the deal you are negotiating. This works both personally and professionally. In our day to day lives sometimes we need to stand firm on our position as well as in business.

Here’s how it works:

Determine your bottom line price before entering discussions/negotiations. Once you have determined your bottom line go into the negotiation with that in mind. If it gets to the point where the other side isn’t coming to agreement with you on price or terms, put your final offer on the table and tell them “take it or leave it.” If they take it, great, the strategy worked, if they don’t great, there will be someone else who will. You don’t want to undervalue yourself and take less than your bottom line. Stick to your guns, be willing to walk away.

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1 April 2013 - Posted by | Negotiation

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