5: Develop negotiating skills

• Good negotiating skills will help you grow
• Reasons for failed negotiations
• Lack of confidence
• Overconfidence
• Not recognizing the other side's situation
• Viewing as a win/lose situation
• What is acceptable to the other side?
• Determine market comparables
• Pricing power
• Determine the deal points for both sides
• What special benefits will the other side derive?
• What is their reason to buy or sell?
• Comparison of "My Leverage" and "Their Leverage"
• Chart out each side's leverage
• Negotiating rules
• Know what you want and how much you will pay
• Ask the other side to make the first offer
• When buying, require an asking price
• Don't make an offer without contingencies
• Be willing to walk
• BATNA
• Top Ten Do's and Don'ts
• Session Quiz