Machay Envelope Company’s CEO Harvey Mackay built his empire by negotiating strategic deals … with paper makers, printers, suppliers. Nearly everything he built involved a deal. Here are Mackay’s six top rules for power dealing:
- Never accept a first offer, no matter how good it seems.
- Don’t negotiate with yourself. If your offer is rejected, wait for a counteroffer instead or making one yourself.
- If your opponent says he or she need final approval on an agreement you’ve struck. Remember one thing: You don’t have an agreement. Ask to negotiate directly with the person in command.
- If you can’t say “Yes” say “No”. It’s better than “Maybe”.
- Don’t be cloyed by printed contracts you’re supposed to sign. Read them, mark them up, change them. Don’t succumb into thinking that an agreement in writing is set in stone.
- Learn everything you can about the other side. “Instincts are no match for information.”
Adapted from Publishing the Envelope All the Way to the Top, Harvey Mackay, Ballantine.