Chill Out
Managing your stress makes you a better deal-maker.
Making deals can be stressful. Although pressure is inevitable,
how well you handle it is up to you. Here are some ways to keep
from flaring up or burning out at the bargaining table: - Do your homework. This is the most effective antidote to
any form of anxiety. Start your fact gathering and due diligence
early. Establish goals. Get your team in place. Simply put, the
more prepared you are, the less you'll have to stress
about.
- Be positive. Learn to see problems as challenges. You
will face maddening obstacles, not to mention opponents who are
best described by long strings of expletives. Transcend them. As
any grade-B action hero (or world-class philosopher) will tell you:
That which does not destroy you makes you stronger.
- Know when to stop. No deal is perfect. There will always
be one more point to win. If the expense, effort, time, lost
opportunity or added damage to your nerves outweigh the benefit of
any further concessions, shake on it and call it a deal. On the
other hand, once you've beat every issue to death and the deal
still doesn't meet your bottom line, walk away. It ain't
your first deal, and it won't be your last.
- Finally, relax. Take your business deals seriously, but
not too seriously. Whatever happens at the bargaining table,
it's grace under pressure that will really make you a
winner.
A speaker and attorney in Los Angeles, Marc
Diener is author of Deal Power.
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