Know your targets and BATNA

Have you heard about Galinsky? He calls your walkaway point, your reservation price.


So when you negotiate you have:


A walkaway price. If you don’t get these terms, you are no longer interested in going ahead with the deal.


A target price. If everything went according to plan you are aiming to get this particualr price.


Your BATNA. (Best Alternative To Negotiated Agreement) If you finally have to walk away, how good is your alternative? Whoever has the better BATNA in the negotiation, ends up winning it.


The trouble is when you walk into a negotiation and you haven’t got any of these very clear. Then you allow your partner to start the bidding. Please don’t. This puts you at a huge  disadvantage.


Preparation, preparation, preparation.


We can’t enphasise enough how important is to do your homework before you walk into the negotiation. Do your research grounded on firm data. When you prepare well ahead of time you feel empowered and sure about what you are doing.


It will enable you to know more precisely your scope of decision when facing different stages in the negotiation.



Someone wants to sell you the iPhone X. You are going into a meeting where they will try to negotiate with you. What is your BATNA? And theirs? How can you prepare for the negotiation?

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