Negotiation is like Martial Arts
Negotiation and Martial Arts are very much alike. Leverage is the key. However, understanding who has the leverage and knowing how to harness, control or counter it is the key to success in both sports.
How do you spot who has the leverage? Whoever holds the key that unlocks the most value. It is necessarily the one who originated the deal, its not the one who does the most work, it is the one that adds the most value.
Now, there are other things to consider such as: Who has invested the most time/money and who has the most to gain and who has the most to lose. These are important in understand how to use or counter that leverage.
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