1	Negotiation You really do want to win.
2	Negotiation: More Art than Science What is negotiation? Webster: Bargaining to reach agreement The World According to Mike: The process of getting as much as possible from the opposite party while giving as little as possible in return. However, you want to do this in such a way that the opposite party does not feel they got little, if anything, in return. The psychological aspect is key. Negotiation is an interaction between people. There is no system that guarantees success. It involves personalities, emotions, needs, leverage and knowledge.
3	Important Points to Remember from the Buy-Side No Need Psychology Preparation Emotion v. Intellect Marketplace Throw-aways Plan B
4	Tactics from the Buy-Side Learn the personality of the person across the table Size matters Dazzle them with your brilliance Baffle them with B.S. Mickey the Dunce Lob a grenade or two Shut-up Disinformation
5	Win-Win In reality, seldom achievable Never leave anything on the table Your company pays you to win, not your suppliers
6	Quid pro quo Something for something Most negotiations involve a degree of tradeoff from both parties Goal Obtain as much as possible Relinquish as little as possible Maintain the integrity of the relationship
7	Quid pro nihilo Something for nothing Cost reduction in exchange for status quo Cost reduction rather than cost increase
8	Don’t try this at home… Life is a series of negotiations. Most human interaction involves negotiation of some sort. These tips are generally successful in business negotiations.