Negotiating with High Risks – What’s Important When Stakes are High
WHAT’S IMPORTANT WHEN YOUR STAKES ARE HIGH Narrow Down Your ‘Everything’
Know this: you cannot pressure the other side to agree by issuing threats and do not make proposals that you are forced to back off from because you cannot deliver the other parties who need to agree to them.
With that in mind, do not walk into the negotiation room thinking that everything has a high stake in the deal. During your preparation process, divide your issues into levels – assign each the worst possible outcome that you can think of, and the concessions you would have to make for such outcomes. Naturally, some concessions cost more than others, and these would be in your ‘high stakes’ pile.
Narrowing down your ‘high stakes’ list focuses on the specific and important details that both parties need to reach a consensus on.