Preparation Questions

  • Which of your goals are “must have” vs. “would like to have?”
  • What will you say if the other parry says “no” to your opening offer?
  • What concessions are you willing to make? (Check with your accountant about such issues as payment terms and tax implications.)
  • What credible excuse can you give if you need to buy time to confer with others and/or think about an offer from the opposing side?
  • Who can you bring along to listen to the conversation, ask questions you might not think of, and give you useful advice?
  • What are the limits of the other party’s power over you?
  • What are the laws governing both sides?
  • What has the relationship between the firms been like in the past?
  • What other products and services can you offer or buy that could expand the relationship and put the current deal in a different perspective?
  • What are your long-term marketing goals and their impact on this relationship?

Negotiate from Strength – the art of negotiation in business
by Scott Smith
Success, July, 2000

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