Constantly study yourself, the negotiations you’ve done, and try to improve so you don’t experience the terrible effects of bad negotiations.
One key point to remember;
Make Sure Your List is Bigger Than Theirs
Let’s say you are negotiating a book advance. They offer a $10,000 advance and they can’t budge higher. That’s fine. Now make your list of other things: how much social media marketing will they do? What bookstores will they get you into? Who has control over book design? What percentage of foreign rights, of digital rights, can you get? Do royalties go up after a certain number of copies are sold? Will they pay for better book placement in key stores? Will they hire a publicist? And so on.
Make a list before every negotiation. Make the list as long as possible. If your list is bigger than theirs (size matters), then you can give up “the nickels for the dimes.” This is not just about negotiation. This is to make sure that later you are not disappointed because there is something you forgot. Always prepare. Then you can have faith that because you prepared well, the outcome will also go well.
Make sure you know all of your numbers. All of your lists of wants. All of the other side’s numbers. All similar deals in your industry. All similar deals that the other negotiator has done. As many examples of negotiation, particularly in this arena, that you can find.
Then make sure you are negotiating from a position of strength. People usually think that means, “I have more power than you.” But this is not what strength is. That will only result in a bad negotiation that will satisfy nobody in the long run. Strength simply means physical health (you’re well slept, you’ve eaten well, you feel energy), emotional health (you are dealing with people you like), mental health (you have done your preparation), and spiritual health (you feel fully deserving of the abundance and gratitude that is coming your way).
Having faith in your strength is all you need to bring to the table. Nothing else. Once you do your preparation, have faith that the right negotiation will happen.
The Choose Yourself Guide To Wealth