Successfully Obtain an Agreement that Falls Within Your Negotiation Success Range
Why do we make concessions? Is it related to our own self-interests, or is it related to the best interests of our customers? Although giving concessions may appear to be of little value, when executed properly they can help close a deal when other strategies have failed.
In this video, K&R Negotiations President Mladen Kresic discusses the concept of principled concessions. Credibility is vital to any concession. Making outrageous demands of your customer might jeopardize a deal, but neither do you want to be taken advantage of. If you make sure that your offer is credible and that all of your concessions are principled in nature, you are more likely to find a compromise that falls within your negotiation success range.