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“Winging it” is a fine approach to life’s minor decisions, but when you negotiate, it can be
disastrous. Follow these three preparation steps to improve your negotiation outcomes.
We all know we’re supposed to prepare to negotiate, yet we often fail to follow through on
these best intentions. That’s a problem because research overwhelmingly shows that
underprepared negotiators make unnecessary concessions, overlook sources of value, and
walk away from beneficial agreements.
Lack of preparation probably has cost you in past negotiations, and a greater commitment to
planning could improve your outcomes significantly. The three steps outlined here question
your assumptions, set the right table, and get ready to create value—will put you on a better
path. In addition, the preparation worksheet offers a detailed checklist to help you gear up for
your next round of talks.