Think about your past 10 negotiations. How many were one-shot negotiations, in which you did not expect to see this person or his company ever again? How many were repeated-game negotiations, in which you would probably see this person or his company in the future?
Chances are, less than 10 percent of your negotiations are truly one shot. This being the case means that you need to think about and protect your reputation in most negotiations.
Think of your reputation as your social capital at the negotiation table. Your reputation is composed of three different things: (1) the personal brand or image you project; (2) people's firsthand dealing with you; and (3) secondhand information about you (gossip).
Chances are, less ...