Saturday, January 12, 2013
Forbes: The Art of Negotiation— The Most Critical Skill When You Are Buying or Selling a Domain Name
There's been a lot of discussion in the name space abut the Art of Negotiation. According to Samit Madan, "When you are buying or selling a domain name, the most critical skill you can possess is the ability to negotiate."
Now Forbes lays it all ut beautifully for us in the current issue.
Said a commenter to the article: "I should add it is often best to keep secret your deal-breaking or “walk away” levels of a given negotiation element. When airing concerns, never propose the solution you believe the other parties want. Make them negotiate towards it to maximize concessions awarded to you.
Beyond the classic example of haggling over price at a car dealership or flea market, a pertinent example in business and government alike is the variety of contractual provisions to be negotiated between union representatives and corporate managers. It is strategic to first hear how the other parties want to resolve an issue so that one may voice acceptance contingent upon specific concessions elsewhere in the collective agreement. This adds a bargaining chip which one would lack if s/he proposed a solution immediately without knowing the relative values of the other bargainers.
It is too easy to impatiently suggest a deal which inadvertently shortchanges oneself for expediency. Negotiate early and often to iterate through enough rounds of bargaining to know you achieved the best deal possible. You will thank yourself later!"
Read: The Secret Art Of Negotiating: Take Your Ego Off The Table