R2. Creating value in negotiation - Chapter 2.pdf

Should 82 negotiatlon genius not end when the deal is

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82 NEGOTIATlON GENIUS not end when the deal is signed-it should end when you feel that you have exhausted all options for value creation. THE GENIUS OF VALUE CREATION As the ideas, strategies, and tactics we've presented in this chapter sug- gest, getting a good deal in negotiation is not simply about claiming as much value as you can. aften, a much more important (and diffi- cult) task is to create value and increase the size of the pie. Unfortu- nately, too many negotiators focus most of their energy on claiming value. In doing so, they leave money on the table and walk away confi- dent, satisfied-and also poor. As you finish this chapter, consider the following question: would you rather claim 70 percent of a $100 pie, or 70 percent of a $200 pie? That is the type of choice you will face in most of your real-world negotiations. Even if you get a slighrly smaller portion of a large pie (say, 50-60 percent), this trade-offmay be very profitable for you. It is important to realize that we are not preaching the gospel of al- truism and benevolence, but rather teaching the art and science of value creation. Even the most self-interested negotiators must rely on others to satisfy their own interests. Remember: to take what is there, you must work with the other side to make what is there. And if you care about your reputation and your relationship with the other party, all the more reason to exercise the genius of value creation.
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