Smart negotiators always name their price

03/22/2011 | Wall Street Journal, The

Many business leaders think they can negotiate a better deal by refusing to tell an opponent what price they actually want or how much they're willing to pay for a given service -- but nothing could be further from the truth, writes Mike Michalowicz. Rather than playing mind games, put your own target number in play as quickly as possible, and use that to anchor any subsequent haggling. "When it comes to successful negotiations, the single most important matter isn't what your prospect is thinking. It's how fast can you get your number on the table," Michalowicz writes.

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