Tips & Tricks

THE 40 MOST COMMON MISTAKES IN NEGOTIATION

  1. Failing to prepare effectively for negotiation.
  1. Underestimating your own power.
  1. Assuming the other party knows your weaknesses and strengths.
  1. Being intimidated by the status of the person with whom you are negotiating.
  1. Concentrating on your problems rather than those of the other party.
  1. Forgetting the other side has things to gain from agreement as well as yourself.
  1. Making assumptions about what the other side wants.
  1. Having low aspirations for yourself.
  1. Giving too much credence to time deadlines set by the other side.
  1. Assuming the other side is aware of the short and long-term benefits of reaching agreement.
  1. Being intimidated by rules set by the other side.
  1. Misunderstanding tactics used by the other side.
  1. Talking too much.
  1. Failing to listen effectively.
  1. Believing everything the other side says about you, your service, your competition etc.
  1. Being forced into discussing price too early in the negotiation.
  1. Revealing your ‘hand’ too early.
  1. Aiming too low with your opening bid.
  1. Accepting the first offer.
  1. Giving away concessions for nothing.
  1. Conceding an important issue too quickly.
  1. Making concessions too easily and raising the other sides’ expectations.
  1. Feeling guilty about asking for a concession.
  1. Making concessions before knowing all the other sides’ demands.
  1. Failing to make concessions conditional on final agreement being reached.
  1. Making concessions of equal size to those on offer.
  1. Paying too much attention to ‘price’ rather than ‘value’.
  1. Discussing issues for which you are not prepared.
  1. Being inflexible.
  1. Losing sight of the overall agreement when deadlock is reached over minorissues.
  1. Responding to a high demand with a counter offer instead of challenging thevalidity of the high demand.
  1. Assuming deadlock means agreement is not possible.
  1. Feeling deadlock is only unpleasant for you and not the other party.
  1. Trying to be liked during the final stages.
  1. Bluffing without having a strategy ready should your bluff be called.
  1. Taking things personally.
  1. Offering to ‘split the difference’.
  1. Being intimidated by This is my final offer!
  1. Not preparing ‘Head Office’ for the possibility you may need to walk away.
  1. Carrying out a ‘post-mortem’ with the other side.

Shahzad Trading & Consulting FZE, KSA Office: P.O. Box 231719, Riyadh, Saudi Arabia, Tel: +966 (1) 2050094, Fax: +966 (1) 2050081. UAE Office: P.O. Box 41865, Sharjah, UAE, Tel: +971 (50) 8603406

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January 2006