In recent negotiations over stadium improvements, the Charlotte, North Carolina, city council sat down at the negotiating table assuming the NFL's Carolina Panthers wanted to leave without the Panthers ever saying that. The city council pretty much started opening its wallet before negotiations even really began!
Michael Lowrey of the Carolina Journal paints a good picture of how poor government negotiaters can cost their residents dearly. His insights are rich for businesses who want to learn how fear can derail their negotiations too.
Negotiating out of fear is a lot like saying, “I know you only want $50; but I want what you have so badly that I want you know I actually have $500 I’m willing to spend to get it.” Add about seven or eight more zeros to that number, and you’ll see how quickly negotiating out of fear can put you out of business. If it’s just your wallet taking the hit, that’s bad enough. If a city government or your business is doing that stuff? Bad news.
The mistake almost all business negotiators make is not taking enough time to consider the weak points and issues facing the other party. Scared negotiators are too focused on how they could be affected and on how weak they are, rather than looking closely at their opposition. They see the other side’s strengths, not the other side’s weaknesses.
Read the full article at Carolina Journal Online.
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