From the course: When Negotiation's about More than Money: How to Negotiate (Almost) Anything

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From the course: When Negotiation's about More than Money: How to Negotiate (Almost) Anything

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- If you're buying something the number one thing you need to prepare is your walk away point. What's the most you'll pay? Now in a way this is the worst case the maximum you're going to end up paying. You're going to try and get it much cheaper and your opening offer is going to be much lower and we're hoping to get it less. But the walkaway point is absolutely the most we'll pay it's the worst case scenario that we will tolerate in a way. And we need to decide what the most we'll pay is and this is really based on plan B. Are there any other options out there? And of course different options might have different walkaway points cause there might be something better that you're prepared to pay more for or there might be another alternative that's not as good but if it was really cheap you would choose that one. So for any given option you need to decide what is the most I will pay for this and your walk away…

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