Five Common Negotiating Mistakes

Three people speaking by videoconferenceYou’re after success, not a “win.”

By Steven E. Sacks
The NEW Fundamentals

We enter into negotiations every day without realizing it, whether it is on a professional or personal basis. Irrespective of whether it is a contractual transaction between a company and vendor or if a husband and wife are deciding on which couch to buy, each side is seeking to gain something. Neither side may get everything it wants because an all-or-nothing-at-all approach will be a barrier to making any progress.

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Negotiating involves getting and keeping agreements that work for all parties. You can reach an agreement but the issue is whether you can maintain the agreement and the relationship built around it. Both sides need to have a sense of “victory” or at the very least, feel they have not lost, because if this should occur then further conflict will result.