Outgunned?
How to contend with a more experienced opponent
URL:
http://www.entrepreneur.com/magazine/entrepreneur/2006/february/83038.html
No matter how long you've been making deals, sometimes
you're up against someone who is simply far more experienced
than you. Some tips for dealing:
1. The outcome of a negotiation has more to do with need,
greed and leverage than your opponent's resume. Reassess the
battlefield. Your position may be better than you think.
2. Get up to speed. Prepare; do your reading; call a
friend. Experience is just another name for knowledge, and in deal
making, knowledge really is power.
3. The simplest way to level the playing field is to get
expert help from an attorney or other professional beforehand.
When selecting a professional, don't be stingy or arrogant--the
consequences can be severe.
4. Once you start talking directly to your opponent,
masking your inexperience may be tough. Unless you have a real
flair for double talk, don't play this game.
5. You don't have to go into a deal as a know-it-all to
get what you want. Use your inexperience to your advantage.
Force your opponents to explain themselves and to educate you.
6. Get them talking, and ask questions, but discourage
your opponent from lying or spinning the truth by letting him or
her know you can double-check everything. One big caveat: Make sure
you actually can triangulate what you hear. Don't rely
on your opponent's sense of decency or your genius at
interrogation.
A speaker and attorney in Los Angeles, Marc
Diener is author of Deal Power.
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