Negotiating Requires Knowing Your Bottom Line

A key strategy in any negotiation is establishing your 'bottom line.' Knowing your "bottom line" is one of the most important aspects of being a good negotiator. The bottom line is the minimum or maximum acceptable threshold that you will accept concerning a given situation. It is the point at which you should decide not to continue to try to hold things together and simply walk away from the opportunity.

Constantly revising is part of a negotiator's strategy because negotiating requires knowing your bottom line or the limits you are willing to go to win an argument or closing a sale or purchase. Your "bottom line" depends on each negotiating event and can change as your situation changes. Typically in the business environment the negotiating parameters are mandated by company objectives, limitations and policy. Working within these guidelines allows company negotiators to negotiate with confidence that they will be able to deliver on the promises they make during a negotiation. Knowing these corporate bottom line parameters also signals when the negotiator should leave the discussion to seek more guidance or look for another opportunity for the company. Thus knowing the company parameters empowers the company negotiator.
Persuasion Techniques
We are used to setting minimum or maximum parameters in the business or professional environment. In personal situations negotiating requires knowing your bottom line or the limits you are willing to go to win an argument. There is no reason the same discipline cannot and should not apply to interpersonal/family situations.

When you are negotiating personal matters ranging from credit card debt to what to do about an errant son or daughter you should try to set the point at which you are no longer willing to negotiate. This is especially important on the personal side as conceding too much only teaches your spouse or child that you will continue to do so and that he or she should continue to press their argument until you cave. This conceding on your part rewards bad behavior rather than deters it.

If you continually do this when disciplining a child you will raise a spoiled child who, later in life, may well have difficulties relating to his or her spouse when the 'adult child' doesn't get his or her way. As parents it is our responsibility to teach our children how to negotiate in a productive fashion so they can get along after they leave the nest.
It is even more important when dealing with an overbearing spouse. Your concessions will not only make the other person expect to prevail, it will cause you to lose respect for yourself and become even more dependent on what could become a damaging relationship.
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Not to belabor the point but I need to point out here that I am not advocating never conceding. Just the opposite as we all need to be willing to 'give and take' to make any relationship work. What I am saying is that it is helpful to know in advance at what point we will no longer be willing to offer further concessions. To make this point graphically, a woman must draw the line at being physically abused. To let this type of behavior occur without recourse is simply asking for a bad outcome.

Negotiating requires knowing your bottom line or the limits you are willing to go to win an argument or closing a sale or purchase. When you approach your predetermined bottom line, the point where it's appropriate to be willing to bluff before walking away, you have two choices; bluffing or walking away. Depending on the potential impact on the relationship and how much you value the relationship, bluffing should only be considered as a last resort tactic. It should be reserved until all you have at risk is failure itself and you are fully prepared to walk away from the relationship as well as the situation because if you are caught in a bluff your credibility, integrity or sincerity will be damaged.