In negotiating, we need to know which pertinent information should be shared. It should not stray away from the main goals as much as possible. We cannot close deals when we are not prepared and do not know the products or services that are to be offered to a new partner or client. It is how you can make things possible.
How much details should be exchanged during a negotiation?
- Thread starter Shavkat
- Start date
You don't bare out sensitive information about your company when negotiating and you also don't leak out financial details of the organization you are working for.
- Thread starter
- #4
Secrecy is not a bad thing in business. Why do we need to give all the way? We need to have something that we can reveal if it is needed. It is a way of showing our skills in managing the business with others.
It is important to know which information to release in a negotiation process and when to release such information. You don't have to release company financial details all in a negotiation.
This is something that I equally agree with as well because you don't have to give out information that is going to put you in a bad position in the negotiation.
Some people are not careful about the kind of information's that they give to people whenever they want to negotiate over one thing or the other and they mostly do that because they want to take profit but forget that they have revealed crucial information
You have to be strategic about the information that you give out to a potential business partner during negotiations. Always understand that the proposed deal might not materialize and it is not worth giving out sensitive information.
