Clinching the deal

1. Walking away from the deal is usually disadvantageous for both parties.

2. It’s usually better to hold the negotiation in your office.

3. Even if you’ve invested a lot of your own time and effort in the negotiation, you shouldn’t let this influence your decision-making.

4. Brinksmanship is a very risky strategy.

5. If you call someone’s bluff, you allow them to do what they were threatening to do.

6. Brinksmanship can be a useful way of building long-term relationships.

7. It’s important to be honest, creative, firm, patient and positive.

8. Once you have agreed on one point (e.g. a 5% discount), you shouldn’t go back to renegotiate that point later.

9. You must always tie up all the loose ends before you clinch the deal.

10. Throwing a spanner in the works at the last minute can sometimes be an effective strategy.