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decisions without understanding the other side's situation. The more
information you have about the people with whom you are negotiating,
the stronger you will be. People who consistently leave money on the
table probably fail to do their homework.

4. Always be willing to walk away. I call this Brodow's Law. In
other words, never negotiate without options. If you depend too much on
the positive outcome of a negotiation, you lose your ability to say NO.

When you say to yourself, "I will walk if I can't conclude a deal that is
satisfactory," the other side can tell that you mean business. Your
resolve will force them to make concessions. Clients often ask me, "Ed,
if you could give me one piece of advice about negotiating, what would

it be?" My answer, without hesitation, is: "Always be willing to walk
away." Please note that I am not advising you to walk away, but if you
don't even consider the option of walking away, you may be inclined to

cave in to the other side's demands simply to make a deal. If you are not
desperate - if you recognize that you have other options - the other
negotiator will sense your inner strength.

5. Don't be in a hurry. Being patient is very difficult for
Americans. We want to get it over with. Anyone who has negotiated in
Asia, South America, or the Middle East will tell you that people in

those cultures look at time differently than we do in North America and
Europe. They know that if you rush, you are more likely to make
mistakes and leave money on the table. Whoever is more flexible about
time has the advantage. Your patience can be devastating to the other

negotiator if they are in a hurry because they start to believe that you are
not under pressure to conclude the deal. So what do they do? They offer
concessions as a means of providing you with an incentive to say YES.

6. Aim high and expect the best outcome. Successful negotiators
are optimists. If you expect more, you'll get more. A proven strategy for
achieving higher results is opening with an extreme position. Sellers
should ask for more than they expect to receive, and buyers should offer

less than they are prepared to pay. People who aim higher do better.
Your optimism will become a self-fulfilling prophecy. Conversely, if
you have low expectations, you will probably wind up with a less

satisfying outcome.
7. Focus on the other side's pressure, not yours. We have a
tendency to focus on our own pressure, on the reasons why we need to

make a deal. It's the old story about the grass being greener in the other
person's backyard. If you fall into this trap, you are working against