Name: Negotiation Course: Negotiation Is All About Leverage
Uploaded: 2024-05-06T11:18:09+00:00
Duration: 7 min 14 s
Description: The idea of BATNA (Best Alternative To A Negotiated Agreement) is about your ability to walk away from a deal

Negotiation Course: Negotiation Is All About Leverage

The idea of **BATNA** (Best Alternative To A Negotiated Agreement) is about your ability to walk away from a deal. It is "*the most advantageous alternative that a negotiating party can take if negotiations fail and an agreement cannot be made.*" This will dictate your success in any kind of negotiation.

**As soon as you want something too badly, and the other party knows that, you will be taken advantage of**. (This is also how Venture Capitalists operate, by the way.)

There are three ingredients needed to gain leverage (and therefore successfully negotiate): 

1. Time (patience)

2. Information

3. Options (leverage)

If you have all 3, you can walk into negotiations with confidence.

The idea of BATNA (Best Alternative To A Negotiated Agreement) is about your ability to walk away from a deal

"Should I negotiate?" Answer: “Is water wet?” It's not often just sending a few emails can literally make you thousands of dollars. It’s worth a shot.