Preparation is the key to any successful negotiation, but few people spend enough time on it. I’ve had sales leaders tell me that they prepare in accordance with how long it takes to get to their customer’s office. That’s fine if your meeting is in Tokyo and you live in Manhattan. But it’s abysmal if you’re meeting the customer in Brooklyn.
Prepare as far in advance of the negotiation as possible. Take time to:
Doing all of this ahead of time gives you the advantage in the room. You’ll be able to better control the process and shape the outcome.
In the next chapter, I’ll discuss how to overcome some of the more common negative assumptions that you may hold as you go into conversations with your counterpart. Then, in the rest of this section, I’ll address how to prepare for both the substance and the logistics of your negotiation.