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:
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.
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.