"One of the obvious rules of negotiation is to keep emotions out of the process." ~~ Donald Dell (Book: Never Make the First Offer)
"All things being equal, people like to do business with friends; and all things not being equal, people still like to do business with friends." ~~ Donald Dell (Book: Never Make the First Offer)
"Another way to build friendships is by offering advice --- as long as it has either been solicited or is couched in such a way that you don't come across as know-it-all or a big shot." ~~ Donald Dell (Book: Never Make the First Offer)
"If the deal doesn't work out, it is good to have the ability to say no nicely --- no histrionics, no feigned anger, just the facts and your position in relation to them. If you say no, don't make the person on the other side of the table angry. Make him sorry that you weren't able to get a deal at that time. This way you leave open the possibility of getting a deal in the future, which would not be the case if the meeting ended with mutual acrimony." ~~ Donald Dell (Book: Never Make the First Offer)
"Don't keep track of favors asked or favors given. Doing someone a favor is like money in the bank-- as long as you don't try to collect right away." ~~ Donald Dell (Book: Never Make the First Offer)
"The quality of your network is only as good as your ability to keep it fresh." ~~ Donald Dell (Book: Never Make the First Offer)
"Deal making and business in general ride on the backs of favors offered, favors done and favors returned, but if you ever try to consciously balance the score card, people are more likely to remember that than the favor you might have done for them in the first place." ~~ Donald Dell (Book: Never Make the First Offer)
"Whether it is the details of a deal or a business contact, know whatever is knowable before going to the negotiating table. It is the little facts that impress the most and if you don't learn them, someone else will." ~~ Donald Dell (Book: Never Make the First Offer)
"Your reputation almost always precedes you. While the world of business seems enormous, it is really made up of many smaller circles of dealmakers. Once you ruin your reputation with one company, you can bet that the rest of the industry will hear about it. On the other hand, once you've build a reputation for getting the job done efficiently and fairly, you will no longer have to sell yourself so hard. Your reputation will do the work for you, possibly when your survival depends on it." ~~ Donald Dell (Book: Never Make the First Offer)
"First it is important to realize that it's generally not in your financial interest to sue. Plus being involved in a lawsuit will take a major emotional toll on both you and your company." ~~ Donald Dell (Book: Never Make the First Offer)
"If you remember nothing else from this course other than two words, then I will feel I have done my job. These two words are 'relationships' and 'trust'. To be successful in this business or in any business for that matter, build relationships that develop trust. Everything else is just noise." ~~ Donald Dell (Book: Never Make the First Offer)
"There are three facts about trust that every negotiator should heed: 1. you can't fake honesty--- even the best liars will get caught eventually; 2. you start to build trust --- or destroy it -- from the moment you meet someone; 3. trust is relative." ~~ Donald Dell (Book: Never Make the First Offer)
"When you are dealing with someone you don't trust the first rule is don't deal with that person at all. But if you absolutely must deal with the person, get everything in writing and get it upfront." ~~ Donald Dell (Book: Never Make the First Offer)
"The truth about trust is that once it is lost, it is almost always gone forever. In negotiating, when business contacts become friends and friends are sometimes contacts, the loss of trust is often perceived as a betrayal, which is a very powerful emotion that is hard to reverse." ~~ Donald Dell (Book: Never Make the First Offer)
"Generally, we tend to put more trust in our friends than in a business associate turned friend. My advice is to try your hardest to treat everyone the same. If something seems suspicious, it probably is -- even if the deal is with a friend." ~~ Donald Dell (Book: Never Make the First Offer)
"People do have long memories particularly when they feel you have crossed them in some way." ~~ Donald Dell (Book: Never Make the First Offer)
"Don't ever judge someone --- whether it is a potential employee or someone with whom you might be negotiating --- by a piece of paper or by his position. Some of the most successful people in the world are some of the shadiest." ~~ Donald Dell (Book: Never Make the First Offer)
"Many a times you can sense a bad vibe when someone gets uncharacteristically quiet. Whenever there is a negative atmosphere in business meeting it's best to acknowledge it privately." ~~ Donald Dell (Book: Never Make the First Offer)
"Listen more than you talk. Making deals is not about showing off; it is about listening, observing and trying to pick up some clues that will help you anticipate what is going to happen next. You never learn anything at all when you are talking and of course when you are not talking, it is also hard to put your foot in your mouth." ~~ Donald Dell (Book: Never Make the First Offer)
"You never achieve real success unless you like what you are doing." ~~ Donald Dell (Book: Never Make the First Offer)
"If you can make someone laugh, it's almost impossible for the person not to like you." ~~ Donald Dell (Book: Never Make the First Offer)
"Whenever you think there is just one way out of a situation, think again. More often than not there will be a lesser known option that you can use as leverage." ~~ Donald Dell (Book: Never Make the First Offer)
"There is no law that requires the other party to lay all their cards on the table and often a key fact won't come out until the negotiation is over. How you protect against this? You go in with a very clear idea of what you want to come out. What do you need to get out of the deal? If you get what you need or better than it really doesn't matter how well the other side makes out." ~~ Donald Dell (Book: Never Make the First Offer)
"One way of knowing what is important is to think about the future. Another way of knowing what is important is to think what the deal is going to look like down the line." ~~ Donald Dell (Book: Never Make the First Offer)
"Losing your temper or your self-control or putting the other party on the defensive almost never works to your advantage." ~~ Donald Dell (Book: Never Make the First Offer)
"Trust your instincts. While it is important to be logical and restrained you can't ignore your instincts. It is one of the most powerful negotiating tools you have." ~~ Donald Dell (Book: Never Make the First Offer)
"Put a bunch of entrepreneurs together under one umbrella and what you are going to get is a bunch of entrepreneurs, each going off in his own direction with little regard for the company as a whole." ~~ Donald Dell (Book: Never Make the First Offer)
"Honestly, if everybody you meet adores you, you're doing something wrong. I'm not advocating that you find and make enemies, but it's impossible to please everybody and always look out for your best interest at the same time." ~~ Donald Dell (Book: Never Make the First Offer)
"You never know who that intern may be connected to or what he or she will become in the future. For this reason its best not to abuse your power and make anyone feel bad." ~~ Donald Dell (Book: Never Make the First Offer)
Hope you enjoyed reading this collection of quotes.
