2 Minutes Business Article. Title: The Informed Negotiator

My father said: “You must never try to make all the money that’s in a deal. Let the other fellow make some money too, because if you have a reputation for always making all the money, you won’t have many deals.” J. Paul Getty


The one who always makes more money or get the better deal from a negotiation is the one who has more information. And the one who gets more deals afterwards is the one who disseminates/shares the information he has so that everyone can have equal opportunities at the negotiation table.

There are so many kinds of war in life, e.g civil, revolutionary, religious, world war, verbal and pen war etc., but all of them are categorised into two; soft and hard wars, depending on the kinds of weapon being used, either guns, bombs, words, pens or wits.

Negotiation is a soft war as it is a war of words, and it happens to be the only war where the two parties involved are expected to win at equal or different levels depending on preparation or expectations. This notwithstanding, the fellow who gets the better win or a better deal in negotiation is he who is better informed - just as in a real war, the winning side is the side that is more informed and more equipped.
Let me take this from a grassroot perfective as I did in the last two articles on negotiation. Before going to market to purchase a thing or to shop, get information about the best prices of the things you intend to buy from people who have bought them before. Don’t just hit the market without a list and the possible prices of your intended items. Don’t ever go to a negotiation table without enough information about the business or product you are going to negotiate for.


Action Exercise: Don’t go to market or to a negotiable meeting until you have almost all the information you need.



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