7th
December
2009
The danger of protracted negotiations
As negotiations drag out, the practical responses you have to solve a problem run out.
As your options shrink, time pressure increases, you concede more and the deal turns from your Best Possible Agreement (BPA) to at best Barely Acceptable Deal (BAD).
The triangle of doom warns us:
- We need to spend more time, investigating and strengthening our alternatives.
- We need to monitor, capture and analyze problems in real time if possible.
- For large, complex negotiations projects you need a real time reporting and response process. Some times the best deals you make are the ones you walk away from.The more time we invest in a deal, the more committed we become to sealing a deal – regardless of its consequences.
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This entry was posted
on Monday, December 7th, 2009 at 4:23 pm and is filed under Managing Big Complex Deals, Managing Risks, Negotiation Mistakes.
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