“SOMETIMES YOUR PARTNERS NEED TO TELL YOU IT S NOT GOING TO WORK BECAUSE YOU RE TOO PERSONALLY INVESTED” So negotiators need to sift through prospects quickly constantly asking themselves Should an additional counter party be present Or should I blow off this person and find someone else to negotiate with It s important to figure out fast whether there s a zone of possible agreement —a good deal that works for both sides. If not you need to move on because otherwise you re wasting your time and someone else s time.
Finding the right party to negotiate with is often more important than working with the parties you have. At times an executive can determine during a five minute conversation that a good deal is or isn t likely to see the light of Chinese Overseas America Number Data day. Or it can take years to figure it out. In situations that take a long time to develop it s easy to fall prey to the fat file syndrome getting too deeply entrenched in trying to make a shaky deal work because of the time and energy invested in it. Sometimes your partners need to tell you it s not going to work because you re too personally invested Mohan says. You think it should work and you start to downplay the problems because you want it to work.
Know When To Walk Away Letting a project that you ve worked on for a long time go can be difficult but Mohan tells his students that sometimes it is for the best. It s never too late to call off a deal. t happen you don t want to go through with it he says. Sometimes you think later Thank the Lord we missed that one. Mohan who recently completed his second year of teaching noted that colleagues including professors Deepak Malhotra Guhan Subramanian and Andy Wasynczuk designed the courses and helped shape Mohan s classroom discussions and goals.