Cross-posted from fastcompany.com[by Vivian Giang]
Most of us think we know what matters most to the other party before we even sit down to negotiate, and that getting what we want comes at the expense of others. Based on these assumptions, the value we create for ourselves and other parties involved are rarely what they could be.
But by better understanding decision behavior, we get a little closer to the ideal scenario for all parties. Below are six things you’re likely doing wrong in negotiations:
1. Not making the first offer (when it’s beneficial to do so)
The ultimate negotiator’s dilemma: Should you or shouldn’t you make the first offer? Conventional wisdom tells us that the person making the first offer is put in a vulnerable position. By revealing knowledge, their counterpart now knows information that could give them a leg up at the bargaining table.