Drop Anchor or Wait at the Altar?

When opening a negotiation, should you make the first offer and “anchor” your position — gaining the psychological advantage and setting the agenda so that he has to react to you – and your carefully developed position?

Or should you maneuver him into speaking first — thus giving you valuable information and maybe offering you more than you would have ever asked for?

It depends on how much you know about the negotiating variables — and how strong your position is.

You should “drop anchor” if:

AnchorYou know that you have a relatively powerful Plan B waiting for you…

You are familiar with the market and competitive environment for the variables you are negotiating for…

And you are adopting a Competitive or Collaborative style where you plan on exerting leadership in the business relationship that follows.

Anchor counter-tactics – download the slideshow

You can consider “waiting at the altar” if:

You aren’t clear about market fundamentals and need your counterparty to provide a technical solution or intangible assets

You are in a weak position relative to your counterparty — or lack strong stakeholder support within your own organization

You are adopting an Avoiding or Accommodative stance.

Goblin-seated-antiqued

 

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