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Superior deal-makers are always aware of their relative power atthe bargaining table. They know when they'll have the mostleverage and when they'll have the least. They'reconstantly on guard against the unexpected event (the entry of acompetitor, an approaching deadline, a tough break for theiradversary and so on) that shifts the advantage in their direction.That's how they arrange things so time is on their side.
By noting the rhythm of the other side's responses-by phone,fax, e-mail or in a meeting-you can gauge their enthusiasm, needand greed. If opponents pick up the pace, it usually meansthey're eager. Of course, the more they want it, the more theyhave to pay for it. If their responsiveness drops, you can assumethat their interest level has, too.
Although playing hard to get has its place, don't worryabout looking desperate just because you keep your negotiationsmoving right along. After all, timely responses build momentum,increase focus and enhance cooperation. And with all the details,egos, positions, interests and technical difficulties that arethrown together in any half-way-complicated deal, a littleeagerness can actually be a relief to some.
Some strategists recommend keeping the other side off-guardthrough change-of-pace tactics. Perhaps an occasional well-executeddrop in enthusiasm could make the other side try harder. Morelikely, such a ruse may backfire and brand you as manipulative,clumsy or indecisive.
A speaker and attorney in Los Angeles, Marc Diener is theauthor of Deal Power: 6 Foolproof Steps to Making Deals ofAny Size (Owl Books/Henry Holt). You can reach him at MarcDiener@aol.com.
The Eleventh Hour
It's no accident that negotiations accelerate as thedeadline approaches. When time is plentiful, everyone holds out forthe best deal. When time is scarce, key concessions come smoothlyand gracefully. Having a deadline is like having an efficiencyexpert right there at the bargaining table. When you discover thatyour opponent has time constraints, take the high ground. Crank upthe leverage by dragging your feet a little-but in a nice way, ofcourse. A little delay, artfully disguised as mild inefficiency,droll distraction or coincidental unavailability, goes a long way.For instance, any Hollywood agent knows to drive a much harderbargain when a studio's just a few days away from shooting animportant film. On the flip side, if your opponents learn you havea deadline, expect them to use it against you. Do your utmost toclose efficiently without ever breaking a sweat.
The phony deadline is a classic negotiating gambit used to forceone side into a quick close. If you suspect a drop-dead date to bedisingenuous, test it: Press the other side for a detailed,plausible explanation, but always be skeptical of what you hear.Ask for an extension to see whether their reaction fits theirexplanation. If you can, contact an expert or an insider foradditional verification. Or, if you feel gutsy, call their bluff.If the other side's hurrying and hassling you, it's becausethey know if they let you think once, you're sure to thinktwice.
Finally, every negotiation must eventually come to an end. Nodeal is perfect, no discussion foresees every what if, and therewill always be one more point to win. Reconsider the big picture.If the expense, effort, time, lost opportunity or increased stressoutweigh the possible benefit of any further concessions, call it adeal and shake on it. On the other hand, once you've gone roundand round on all the major issues (and most of the minor ones) andthe deal still doesn't meet your bottom line, walk away. As thesaying goes, "Sometimes your best deals are the ones youdon't make."
