Negotiation Tip of the Week (no. 1)

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Do your research! Having up to date knowledge about your counterpart’s business situation always helps. Are they in financial difficulties? How did their recent product launches go? Any changes in their business strategy? Most importantly, what are the implications of your findings? For example, what is happening in their business environment may make them more or less willing to negotiate on terms and price. This, in turn, should inform and influence your negotiation strategy.

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