Start Ups, Freelancers, Digital Nomads, & Giggers -- this is for you.
In every negotiation there is a balance of power. Someone has a stronger position – the other side is weaker. Don’t automatically assume that the bigger or richer counter-party automatically has a stronger hand.
Analyzing the balance of power is more about alternatives than brute force. The best way to judge the power balance is to look at who needs the deal LEAST. The one who can walk away from the table with less damage, loss, and inconvenience is in the stronger position.
There’s always a power balance, but you are not always on the right side of it. This is especially true for younger negotiators, and those working as freelancers, start-ups, giggers, or digital nomads. Sometimes you need to figure out how to even the odds – and sometimes you have to learn to win from weakness.
What are the sources of Power?
There are 3 general sources of power for negotiators:
- Alternatives and Options
- Resources and Network
- Knowledge and Analysis