In the Art of Negotiating, there are 3 important elements in order for a successful negotiation. They are mutual benefits, leverage and persuasion.
Mutual benefits is getting both sides to benefit equally in the process. This keeps both sides in check and secure by having each side obtain what they want in the transaction.
Leverage is exerting influence on others into negotiating with you. Having something to your advantage makes a good leverage for other people to come into the table.
Persuasion is finding a common ground, using words to get the other side to think along with you and stand behind you.
Information is the key to victory. With enough information, you can achieve all 3 elements successfully.
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