Comments on: Negotiation Genius http://www.businesspundit.com/negotiation-genius/ Entrepreneurship, Startup Companies and Business Philosophy Fri, 20 Nov 2009 20:31:15 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: Gary S. Hart http://www.businesspundit.com/negotiation-genius/comment-page-1/#comment-2772 Gary S. Hart Tue, 30 Oct 2007 22:35:55 +0000 http://www.businesspundit.com.php5-6.websitetestlink.com/?p=3368#comment-2772 Thanks for making very good points and a review that has motivated me to read this book, which I rarely do. Negotiating is almost never about price or need and usually about want. In 1975, Toyota won the prestigious Import Car of the Year Award for their Corolla Hatchback. I was negotiating for part of the campaign, one-on-one, over a $65 lunch, about $250 in today's money. Our quote of $25,000 was countered with his statement that he had bet the president of Motor Trend that he could get this program done for under $15,000. I asked him how much his bet was and he replied, “Lunch at the 21 Club”, to which I responded, “I’ll pay for the lunch”. We closed the deal at full price. The other side’s needs are what establish value, and value establishes price. Price should never be negotiated until both parties have defined value. As you stated, putting the table is not hurtful, but responding first to an offer is usually a mistake. As pointed out in “Getting to Yes”, by Roger Fisher, Bruce M. Patton, and William L. Ury never negotiate over objectives such as price. Responding to on offer makes price the focus of the negotiation, when it should always be the needs of both parties’. Thanks for making very good points and a review that has motivated me to read this book, which I rarely do. Negotiating is almost never about price or need and usually about want.

In 1975, Toyota won the prestigious Import Car of the Year Award for their Corolla Hatchback. I was negotiating for part of the campaign, one-on-one, over a $65 lunch, about $250 in today’s money. Our quote of $25,000 was countered with his statement that he had bet the president of Motor Trend that he could get this program done for under $15,000. I asked him how much his bet was and he replied, “Lunch at the 21 Club”, to which I responded, “I’ll pay for the lunch”. We closed the deal at full price.

The other side’s needs are what establish value, and value establishes price. Price should never be negotiated until both parties have defined value. As you stated, putting the table is not hurtful, but responding first to an offer is usually a mistake.

As pointed out in “Getting to Yes”, by Roger Fisher, Bruce M. Patton, and William L. Ury never negotiate over objectives such as price. Responding to on offer makes price the focus of the negotiation, when it should always be the needs of both parties’.

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