August 2024
Beginner
336 pages
7h 29m
English
Content preview from The Elements of Negotiation
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ELEMENT 27Walking Away
Take it or leave it should be used only after you have tried to reach a conclusion by other means. It can be difficult to determine how to use this tactic in a convincing manner. Due to its harsh nature, you can essentially only use it once throughout the entire negotiation process and still be taken seriously. The method is fraught with risk. If you use this approach, the dynamic of the negotiation will change and from that moment forward will be governed by the bargaining equity of the parties.
If you play this card, your counterpart will be provoked. Instead of surrendering and entering into the agreement you have offered, they may turn it down to see how much you can handle. They want to show you that they have stronger bargaining equity. Before you use the take it or leave it tactic, mentally prepare yourself for the best and worst possible outcomes. You should use this tactic only if you are ready to carry out the threat, which is to walk away from the table and break off negotiations.
Always be ready to walk away, having your next best alternative (NBA) ready. Negotiating without knowing your NBA is dangerous, as you suddenly are negotiating with a monopolist.
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