Why Strategic Negotiations Matter

Your negotiating ability is your destiny.

Whatever your profession. Whatever your industry. Whatever the stage of your career. You can not escape the fact that your future is a function of your negotiating prowess.

We all must negotiate with vendors, partners, customers, employees, colleagues, superiors, regulators and agents. In today's challenging economic climate our 'relationships' with our business associates have been relegated to the dustbin of history. Your negotiating counterparts will never give you the deal you deserve. You will only get the deal you negotiate.

The good news is that no other sphere of business provides you with as much leverage as negotiations. A few weeks of strategizing and due diligence may enable you to receive prices and financing terms millions of dollars more favorable than you previously anticipated. Simply knowing when to approach a counterpart can be worth big money. Determining who should make the opening offer can result in substantial profits. Understanding when to remain silent can be highly lucrative in a negotiation.

You can build an empire through negotiations. You can also devote 30 years of unflagging labor to building your business and then squander 50% of its value during an ill-planned three-month negotiation.

If you don't invest in enhancing your negotiating skills, you and your business will soon pay for it.