The “I Must Win” Mindset

wealthymattersThe notion of “win-win” a dangerous trap while negotiating. So be very, vary¬†wary of win-win. The win-win ideal tempts good-hearted people to buy into bad deals that they later come to regret.

Here’s why. Let’s say, for example that you adopt a “win-win” attitude with someone who has an “I-must-win” outlook, your “win-win” perspective almost guarantees you’ll be the only one offering concessions in order to reach an agreement. Since you are expecting the other person to be equally concerned about looking out for your needs, not only will you be disappointed,but you will find that the other person has helped themselves to everything they wanted,along with everything you freely offered.So basically you have a double ghata(loss),

Your best defence is to adopt the 3-Step Alternative to “Win-Win”-¬†“wish, want, walk.”

1. Write down your wished-for goals.

2. Study what the opposition wants.

3. Write down the number and conditions at which you will walk away. Read more of this post

J Paul Getty On Dealmaking

wealthymatters“My father said: ‘You must never try to make all the money that’s in a deal. Let the other fellow make some money too, because if you have a reputation for always making all the money, you won’t have many deals.'” J. Paul Getty

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