Whether you're haggling over the price of a flea-market watch or trying to win a global multi-million dollar deal, every negotiation hinges on only two elements:
In other words, what will happen if they walk away from this deal and what are they willing to trade to move it forward? What will happen if we walk away from this deal and what are we willing to trade to move it forward?
Here's the rub: to make this optimally effective, you must think through nearly every aspect of what you potentially have to offer, what the competition has to offer, and the gap between the two -- what you have that the competition doesn't. Then, you have to think through what each side is willing to trade to close the deal.
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