When it comes to negotiation, we often hear about “win-win situations” where both sides benefit from the deal no matter what. While I understand the need to come to a consensus in order to move a deal forward, we’re not big fans of negotiation for a “win-win” because it implies you are also negotiating for the other side.
While you don’t have to negotiate with the intention of decimating the opposing party, your primary concern should be ensuring your own success.
Rather than focusing on the other party, it’s best to have a clear understanding of what a win looks like for your company. What is your ideal outcome? What are your non-negotiable items? What are you willing to compromise on? Solidifying these issues prior to negotiations will help you more effectively achieve your desired outcome.
In many cases trying to negotiate on behalf of the seller gets complicated and can lead to a less than ideal outcome. A negotiation doesn’t always have to have a winner or a loser and both buyer and seller may be happy after the deal closes, but you should be advocating for your own company – not the other side. Let the seller figure out what a win means for them.
