The Negotiation Book: Your Definitive Guide To Successful Negotiating

4.6. 6. CAUTION:

If it's too good to be true it probably is

The 'action' or interaction, once a negotiation has begun, comes in the form of proposals and counter proposals as the deal starts to take shape.

Picture the high levels of mental energy and the work rate taking place inside the heads of a group of negotiators around the table. Both parties are seeking to create or distribute value in the knowledge that if they are too hasty they may miss an implication and, by being seduced on price, they could be entering into an agreement that will cost them more in the long term. It is during these critical times when reality checks should take place. This is when patience is needed and time should be taken to calculate what has changed.

CASE STUDY A Hong Kong based print company called Zenni Print, specialising in large banner posters, was keen to market their own business at a specialist 'central government' conference. They had made many enquiries over a period of six months to the organisers and concluded that the fee rate of $10,000 for a space at the site was too expensive; so they decided not to attend. Two weeks before the conference was due to take place, they received a call from a sales representative of the conference organisers who was able to offer Zenni Print a similar size site at the conference for $4500 if they were able to provide an immediate commitment. The Zenni Print director held a short discussion with his team, made a decision to take the slot and returned ...