I sit at home and I'm so bored -
it is such lousy weather.
I wish I were two little dogs,
so I could play together.
- Godfried Bomans
Playing Hardball
Q: I've just started my own business and would like to know how much hardball to play during negotiations. I don't want to be taken advantage of.
A: You may be new to business, but you ask an age-old question. When it comes to dealmaking, what is the right amount to leave on the table? There is no exact number or percentage, of course, but generally speaking, the answer is, enough to make another deal another day.
Given your new role as an entrepreneur, we'd guess you're hoping to build both a career and a reputation. And that just can't happen if, after every negotiation, the other person feels taken to the cleaners. You'll never get another deal sent your way. On the other hand, you don't want to give away so much that you're the one taken - for a fool. Your challenge, then, is to find the middle ground. And you will - with experience.
Like life, business is built on relationships. Err on the side of fairness, and you'll be richer for it in every way.
- Jack Welch, Playing Hardball
