Avoid Last-Minute Deal Making

Woman and man shaking hands across a deskFive questions to ask.

By Steven E. Sacks
The NEW Fundamentals

CPA firms often believe the most crucial part of negotiations to close a deal happens at the final stage of talks. But in order to have a satisfactory conclusion, you must set the tone at the beginning stage with an honest and forthcoming discussion based on mutual benefit – with an underpinning of respect and trust.

MORE: Five Common Negotiating Mistakes | Courtesy Still Matters | Bigger Firm, Bigger Thinking | 5 Steps to Better Time Management | SWOT’s the Purpose? | Is Your Firm’s Culture a Magnet or a Repellent?
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For young professionals, it is never too early to evaluate your negotiation aptitude. Think about this as a process with key milestones. This gives you the chance to make modifications along the way and to avoid the last-minute pressures of bargaining that can remove the advantages you have created. Adhering to a game plan will reduce the chances of objections from the other party, or even worse, the backing out of an arrangement that you considered to be a “lock.” This can be applied to discussions involving a promotion or a pay increase.