Good article on how to negotiate. Especially like the tactic of getting someone to agree on a formula (10x revenue anyone) and then hammering them with details to bring down the price.
Also the concept of giving away the nickles to keep the dimes is a good one as well.http://techcrunch.com/2011/11/19/how...-easy-lessons/
- Have everyone agree on a mathematical formula to value an asset or service.
- Then when you start plugging in the variables, that’s where the real negotiation is occurring and if you know in advance that those numbers are going to be lower than thought, then you will win the negotiation and everyone will be happy when it’s over. It is always key for both sides to be happy at the end but since everything started off on a point of agreement, it is much easier to keep both sides happy at the end even if there is disappointment along the way.
Then, to make his point he reached into his pocket, in the middle of this ancient coin show, and he pulled out a dime and a nickel. “This way,” he said, “if you have more points to discuss. You can give up the nickels.” He pushed the nickel towards me. “And keep the dimes.”