List Negotiating Tactics commonly used by Investment Bankers.

October 25, 2007

Posted by DanielleR

( 1 rating )

Be mindful of body language

During a negotiation, always be mindful of body language - both your own and the other party's. Your posture has the power to indicate your approach to a situation. To project an air of confidence, focus on aligning your head and neck without tension (i.e., don't try to stand as straight and tall as possible).

Take notice if another individual is using hand-to-face movements (i.e., scratching or holding their chin). This often indicates that the individual is interested in sealing the deal, but has one or two reservations. This can be your chance to jump in and allay their concerns - whatever they may be.

"Mirroring" is also an important practice. We are unconsciously attracted to people who look like us. So, in a conversation, you may be able to put the other party at ease by mirroring their movements, sitting position, etc. It may be a subtle move, but it can create a sense of comfort and trust.

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October 25, 2007

Posted by platinum

( 2 ratings )

Never be the First Person to Offer a Number
The highest pressure a question can give is asking to offer a number. When asked, a question that instantly gives your opponent the upper hand. Don't back down. Don't rush to answer. And don't blurt out a quick figure that will end up putting you out on the street with a for sale sign around your neck. Whatever you do, get the other group to offer the first number and work your way up or down from there.

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October 25, 2007

Posted by Paribas

( 2 ratings )

When its all Over, Don't Leave the Person Feeling Cheated
When you cheat someone you burn the bridge to all future business deals. You also obtain a negative reputation that could make future deals with the same or other parties more challenging. Also, the last thing you want is the other party coming after you for revenge.

When the dust settles, its always helpful if both parties are satisfied with the terms of the deal.This doesn't mean you can't make a killing.

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