What's Your Negotiation Strategy?

Many people don't tackle negotiations in a proactive way; instead, they simply react to moves the other side makes. While that approach may work in a lot of instances, complex deals demand a much more strategic approach. The best negotiators look beyond their immediate counterparts to see if other constituencies have a stake in the deal's outcome or value to contribute; rethink the scope and timing of talks; and search for connections across multiple deals. They also get creative about the process and framing of negotiations, ditching the binary thinking that can lock negotiators into unproductive zero-sum postures. Applying such strategic techniques will allow dealmakers to find novel sources of leverage, realize bigger opportunities, and achieve outcomes that maximize value for both sides.