There is more than just playing hardball……
I have recently started my own business and would like to know how much hardball to play during negotiations. I don’t want to be taken advantage of.
Fortunately I did spend a good few years in a sales role in the corporate world so I have been drawing on this experience quite a lot.
You may also be new to business, but you ask an age-old question. When it comes to deal making, what is the right amount to leave on the table? There is no exact number or percentage, of course, but generally speaking, the answer is, enough to make another deal another day. This ultimately is a foundation of a relationship, at the very least by intention.
Given your new role as an entrepreneur, I’d guess you’re hoping to build both a career and a reputation. And that just can’t happen if, after every negotiation, the other person feels completely taken to the cleaners. You’ll never get another deal sent your way. On the other hand, you don’t want to give away so much that you’re the one who’s taken—for a fool. Your challenge then, is to find the middle ground. And you will—with experience.
Like life, business is built on relationships. Err on the side of fairness, and you’ll be richer for it in every way. Always put more in than price dictates and the returns will be richer than you expect.
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