At the risk of seemingly repeating myself, I stress that asking for what you want is not the same as identifying what you want.
Identifying what you want is about getting a more thorough grasp on all aspects of the deal. In many situations I have come across, some of these aspects are glossed over, either in a rush to seal the deal or to get the contract at the price so desired quickly or simply in excitement. But if you fail to consider all these aspects above especially in relation to your position, you risk opening yourself not only to serious harm, financial or otherwise. More importantly, there may be occasions when such failure can bring about such a turn in circumstance that you are left in a worser position than when you first started.
Identifying what you want also brings about a process towards understanding how important this deal is to you. At what point will you decide that too much is at stake and that you are ready to walk away? What are some of the business decisions and risks you might be open to taking to make this deal happen? In short, what will you do and how far will you go towards your goal here? It’s always better to approach a situation like this, with a game plan in mind. You have thought through all possibilities and have views on each possibility. When in the thick of discussions, as the game changes as developments occur, a haze may descend on you thus preventing you from seeing the wood from the trees.
Ultimately, some of these issues here are not so much tips for how to manage your deals; rather, clarifying an approach and process that can help you move ahead. If you don’t believe in this approach, then none of this will matter.
You could proceed in the belief that nothing will go wrong and that there is no need to dwell on how badly the deal can turn out. Whether due to fear, irrationality or simply a desire to sweep things under the carpet, neither hope nor ignorance do anything to help you prepare and put your best foot forward.
And essentially that is what we always should aim to do. For in deals, there is seldom a second chance. Impressions are made quickly, people move as much on experience as they do on gut and negotiations can be fairly quick.
Next : Tip #5 Communicate clearly and simply.