#32 – Fail to Prepare, Prepare to Fail: The Underrated Power of Preparation in Negotiation (& A How-To Guide)

What are the 3 P's of negotiation? Preparation, preparation, and… oh yeah, preparation. This week on S4N, Gene dives into one of the most critical – and most overlooked – building blocks of negotiation success: thorough preparation. With over 40 years in the field, Gene explores how and why skipping this step has led to more failed deals than any other misstep he's seen – and how you can avoid the same pitfalls. Learn how to prepare for a negotiation, how to protect yourself when you can't do as much research as you'd like, why scenario planning can help you get a deal done, and how to identify the first price to ask for. Plus, learn about the winner's curse, Chris Voss's Ackerman system, and the 65/85/95% tool for pricing. Remember: negotiation is life… and failing to prepare is preparing to fail. Mentioned in this episode: Done Deal: Insights from Interviews with the World's Best Negotiators by Michael Benoliel and Linda Cashdan  Never Split the Difference: Negotiating As If Your Life Depended On It by Chris Voss and Tahl Raz