June 10, 2016
Bounce Back After a Failed Negotiation
Sometimes, despite your best efforts, a negotiation doesn’t go your way. Perhaps a customer pushed for a steeper discount than you wanted to offer, or a potential client went with a competitor’s bid. In the face of disappointment, how do you make sure your reputation isn’t damaged? First, don’t panic. More often than not, there will be opportunities in the future to retry your case. And even though you didn’t “win” on the terms you came to the table with, there may be some unexplored upside that you haven’t yet considered. Great negotiators find value and benefits in unexpected places. The important next step is to be transparent with your employees and managers about why this round didn’t go your way. They’ll appreciate your honesty and help you spot missteps so you’ll be more prepared the next time around.
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