Adapted from During the Gold Rush: Negotiating in China for the Negotiation newsletter by Ray Friedman.
With its booming economy and growing international consumer influence, negotiation skills appropriate for China is in high-demand. Here are a few tips to help you successfully navigate your next round of negotiations in China.
Build relationships but expect to incur obligations as well.
Don’t depend on contracts, which serve more to establish a relationship than to specify all future contingencies.
Take your time. Lasting deals aren’t negotiated in days or weeks, but in months and years.
Make high-level contacts. To find negotiators who are flexible and practical, reach out to those in positions of authority.
Avoid the gold rush mentality. Make sure you’re committing to a deal that truly will benefit you and your organization.
Continually develop your BATNA. The only surefire antidote to hardball tactics is a strong , secure outside option.
