Entering into any kind of negotiation requires a great deal of preparation, research, analysis, and planning to make sure you have the correct strategy, tactics and concessions in place to address the issues on the table and the interests that are driving them. The more effective your planning and preparation are, the more likely you are to achieve a satisfactory result.
However, you must also understand that in order to truly maximize your chances for success during the negotiation, you also need to thoroughly research and plan what you would do IF this negotiation FAILS. Therefore, during your preparation and planning process you must ask yourself two key questions:
Is entering into this negotiation with this party at this time the best way to create the most value or achieve the right goal that will satisfy my interests? If I do enter into this negotiation, and it is not successful, what will be my next best option to satisfy my interests?
Of course, you are probably optimistic that entering into this negotiation is a good way to satisfy the interests you have, but.
