Preparation is 'key' to successful business negotiations
Companies should never talks if they are not ready
Firms should always ensure they are adequately prepared for business negotiations, it has been claimed.
Many companies may feel pressured into entering talks before they are ready or may feel that they can get ahead of the competition by opening negotiations as early possible.
Alain Burrese, a sales negotiation expert, claimed that negotiators should never go into talks if they are unprepared.
He wrote on ezinearticles.com: "Going forward with negotiations when you are not ready may put you in a position you'll regret later.
"The bigger the deal, or more important the transaction, the more reason there is not to negotiate until you are fully ready."
Mr Burrese added that companies should always tell their counterparts the truth and simply admit that they are not ready to enter talks.
Companies should arrange a time for discussions to re-start and notify the other side that they are not purposefully attempting to stall talks, he said.