NEGOTIATING LOPSIDED DEALS
If you’re involved in a negotiation with someone whose resources out match yours, here are some tips that should help you.
- Before delving into the details of a negotiation, it’s important to ask yourself some basis questions. The first question is whether your lack of resources, financial or human, are likely to impair your ability to perform your end of the deal.
- Should the other party have checked on the strength of your business before meeting you, he may not want to deal with you at all.
- Even if he decides to take his chances in dealing with you, he may seek a premium for taking a risk.
- Before biting off more than you can chew, always do two things. Analyze your own business strengths and weaknesses and compare them with those of the other party.
- Dealing from a position of weakness always guarantees a lopsided result, if indeed any deal materializes.
