The Art of Being Unreasonable by Eli Broad

Author:Eli Broad
Language: eng
Format: epub, mobi
Publisher: John Wiley & Sons, Ltd.
Published: 2012-04-09T16:00:00+00:00

Don’t Swing Wildly—Start Close to Where You Want to End Up

In negotiations a lot of people like to start very low and work their way to the middle. They think this makes both parties happy—the feeling of winning ground, of coming to agreement from a great distance.

I disagree. Going back-and-forth wastes too much time, and more often than not, people feel like they’re losing each round rather than winning.

Instead, I do something that most people consider unreasonable: I make a first offer that’s pretty close to my final offer. I leave a little wiggle room, some space to meet the other party, but that’s it. This shocks people and makes them think I drive a hard bargain. In fact, I’m just saying exactly what I mean and sticking to it. Most people will meet my offer, or come very close, once they realize I’m not going to budge much from what we both know is fair. It saves us all a lot of time and pain.

In my MOCA negotiation with the count, my first offer was almost precisely where I wanted to end up—even though my limit was a bit higher. I stuck to $11 million, although the count pushed for $12 million. I countered by promising him a higher down payment. We were able to agree on $11 million with the higher down. The collection today is probably worth at least a billion dollars.

I was able to keep my head, not get emotional, and stick to my offer when the count made his counterproposal. Knowing you’ve made a fair offer, setting your limit, and keeping a level head should prevent you from doubting your position, no matter what. You’ll have to face counteroffers, dead silence, steely gazes, and awkward pauses. But you have to keep your eye on the endgame and not let all the rest distract you.

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