The_Essential_Manager_s_Handbook

AVOIDING DECISION TRAPS / 415

Do not hesitate to reverse your original decision and

cut your losses; create an exit strategy even before

you get involved in the negotiation process.

Set a benchmark that could give you an advantage

when your counterpart is ill-informed, but be aware

that they could do the same to you.

Engage a trusted expert who will challenge your

overconfidence in your ability to negotiate and put

pressure on you to do a reality check.

Make sure that your offer is based on solid research.

When buying, demand a performance guarantee of

the product.

Invest time and energy in looking for information that

is not easily available. You will often find accessible

information that can improve your position.

Present information more or less vividly to

influence others, but be wary of overvaluing

information that is attractively presented to you.

As a negotiator, be aware of how the other party

frames the situation and presents its offers.

Approach each negotiating event as a unique case.

They are never identical.

Strategies for decision-making

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