Firms should not be 'too greedy' during business negotiations
Taking too much from negotiations can backfire
Firms should not be too greedy during business negotiations as it could result in the deal collapsing, it has been claimed.
Although many negotiators will be tempted to gain all they can from talks without making any concessions, one expert believes this can backfire.
Gregg Williams, a negotiations trainer, expressed his belief that companies should try and put themselves in the other side's position and not aim to simply gain in the short-term.
He wrote on ezinearticles.com: "When negotiating, don't let greed, or the allure of it, block future opportunities. Exercise balance when comparing today's gains against tomorrow's prospects."
Mr Williams added that negotiators should also pause discussions briefly to confirm that their counterparts understand their position and do not perceive them as taking too much as part of the deal.
Companies can also consider implanting a strict time-limit on proceedings as "people tend to negotiate more earnestly as they feel the pressure of time ebbing away," he said.