No matter how long you’ve been making deals, sometimes you’re up against someone far more experienced than you. Here are some tips to keep you on par:
- The outcome of a negotiation. It has more to do with need, greed and leverage than your opponent’s resumé. Re-assess the battlefield. Your position may be better than you think.
- Get up to speed. Prepare; do your reading; call afriend. Experience is just another name for knowledge, and in deal-making, knowledge really is power.
- The simplest way. The easiest way to level the playing field is to get expert help from an attorney or other professional beforehand. When selecting a professional, don’t be stingy or arrogant – the consequences can be severe.
- Once you start talking directly to your opponent, masking your inexperience maybe tough. Unless you have a real flair for double talk, don’t play this game.
- Don’t feel small. You don’t have to go into a deal as a know-it-all to get what you want. Use your inexperience to your advantage. Force your opponents to explain themselves and to educate you.
- Get them talking. And ask questions, but discourage your opponent from lying or spinning the truth by letting him or her know thatyou can double-check everything.