Adapted from “6 Tips for Novice Hagglers,” first published in the August 2009 issue of Negotiation.
Whether you’re purchasing a new home or car, or negotiating a discount on an inventory purchase for your firm, the art of haggling enables negotiators to make a strong claim for their share of the pie. Here are six tips from the Negotiation Briefings newsletter to help you start becoming a better at haggling in business negotiations.
1. Thoroughly research what you want and where you can get it.
2. Consider what the other side will do if you walk away from a deal. (BATNA)
- See also: The Paradox of Positions
3. Set a stage for the negotiation that’s comfortable for both sides.
4. Anchor talks in your direction by making the first offer.
- See also: 10 Hard Bargaining Tactics
5. Insist that the other side reciprocate each concession you make.
- See also: Trust in Negotiations
6. Expand the pie by discussing issues other than price.
Related Article: Dealmaking – 6 Strategies for Creating Value or Claiming Value Through Haggling
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