• What do we want to achieve?
• How will we open the negotiation?
• How might they respond?
• What will their reaction actually mean?
• What is the appropriate behaviour and strategy to adopt?
• What is our long-term business strategy and what is theirs?
• Where is the balance of power?
• How much do they need us?
• How much do we need them?
• What is the least I think they will accept? (note: if we are the buying party)
• What is the most I think they will pay? (note: if we are the selling party)
• What are their objectives and how are they rewarded?
• What do they want to achieve?
• What is their best alternative?
• What is our best alternative?
• Who has the greater time pressure/urgency, us or them?
• What are likely to be the main trading variables?
• Which are most important to us?
• What are the most important to them?
• What might they add to them?
• What further information do we need?
• Where can we get that information?
• What information, if any, do we want to share with the other party before we begin to negotiate?
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PS: Is your team negotiating money away and missing opportunities to grow your profits? Download your free ‘How Negotiation Ready Is Your Team?’ audit here