Insight

Know Your Objectives Before Negotiations Start

Why would you begin a business negotiation without knowing your objectives and acceptable outcomes? The answer: You shouldn’t.

Know Your Objective
Christopher R. Sackett

Christopher R. Sackett

November 22, 2016 12:00 AM

You’d never leave on vacation without knowing where you’re going. So, why would you begin a business negotiation without knowing your objectives and acceptable outcomes? The answer: You shouldn’t.

This does not mean you need to know exactly where your negotiations must conclude before you even begin discussions.

Negotiations necessarily involve multiple parties, all of whom have their own goals and expectations. It would be unrealistic to think you can predict and control all possible outcomes and short-sighted to believe the only successful outcome will be the one most beneficial to you. Successful negotiations almost always require give and take from all parties to arrive at a win-win arrangement. Without this, at least one party will presumably have no incentive (or not enough incentive) to do the deal.

It is critical that you not enter into negotiations without giving careful thought to what your objectives are, the ways you might achieve them and the outcomes that would be acceptable. Note that "objectives," "ways" and "outcomes" are all plural. Just like the saying, "there’s more than one way to skin a cat," there’s almost always more than one way to structure a deal.

Follow these basic suggestions before entering into business negotiations:

• Identify your ultimate objectives — the primary reasons you’re considering this deal.
• Consider the various ways you might be able to achieve those objectives.
• Identify your secondary objectives — things that would be nice, but not essential.
• Consider the various ways you might be able to achieve those secondary objectives without compromising your primary objectives.
• Identify deal-killers — those things that you simply cannot live with.
• Then (and this is important), repeat the above from the other party’s perspective — see the deal through their eyes.
• Now, once again, consider how you can achieve your primary (and hopefully secondary) objectives AND how the other parties might also achieve theirs. Hopefully there are several ways to get there, some of which may be more or less desirable to you, but all of which would be acceptable.
• Now it’s time to negotiate.

The best way to achieve a successful outcome is to consider what that might look like before entering into negotiations, rather than looking back and wondering what went wrong.

Trending Articles

Introducing the 2026 Best Lawyers Awards in Australia, Japan, New Zealand and Singapore


by Jennifer Verta

This year’s awards reflect the strength of the Best Lawyers network and its role in elevating legal talent worldwide.

2026 Best Lawyers Awards in Australia, Japan, New Zealand and Singapore

Revealing the 2026 Best Lawyers Awards in Germany, France, Switzerland and Austria


by Jamilla Tabbara

These honors underscore the reach of the Best Lawyers network and its focus on top legal talent.

map of Germany, France, Switzerland and Austria

Effective Communication: A Conversation with Jefferson Fisher


by Jamilla Tabbara

The power of effective communication beyond the law.

 Image of Jefferson Fisher and Phillip Greer engaged in a conversation about effective communication

The 2025 Legal Outlook Survey Results Are In


by Jennifer Verta

Discover what Best Lawyers honorees see ahead for the legal industry.

Person standing at a crossroads with multiple intersecting paths and a signpost.

The Best Lawyers Network: Global Recognition with Long-term Value


by Jamilla Tabbara

Learn how Best Lawyers' peer-review process helps recognized lawyers attract more clients and referral opportunities.

Lawyers networking

Jefferson Fisher: The Secrets to Influential Legal Marketing


by Jennifer Verta

How lawyers can apply Jefferson Fisher’s communication and marketing strategies to build trust, attract clients and grow their practice.

Portrait of Jefferson Fisher a legal marketing expert

Is Your Law Firm’s Website Driving Clients Away?


by Jamilla Tabbara

Identify key website issues that may be affecting client engagement and retention.

Phone displaying 'This site cannot be reached' message

A Guide to Workers' Compensation Law for 2025 and Beyond


by Bryan Driscoll

A woman with a laptop screen reflected in her glasses

Medical Malpractice Reform Trends in Texas, Utah, Georgia and SC


by Bryan Driscoll

A fresh wave of medical malpractice reform is reshaping the law.

Medical Malpractice Reform Trends hed

Why Jack Dorsey and Elon Musk Want to 'Delete All IP Law'


by Bryan Driscoll

This Isn’t Just a Debate Over How to Pay Creators. It’s a Direct Challenge to Legal Infrastructure.

Elon Musk and Jack Dorsey standing together Infront of the X logo

Best Lawyers Launches CMO Advisory Board


by Jamilla Tabbara

Strategic counsel from legal marketing’s most experienced voices.

Group photo of Best Lawyers CMO Advisory Board members

Changes in California Employment Law for 2025


by Laurie Villanueva

What employers need to know to ensure compliance in the coming year and beyond

A pair of hands holding a checklist featuring a generic profile picture and the state of California

Common Law Firm Landing Page Problems to Address


by Jamilla Tabbara

Identify key issues on law firm landing pages to improve client engagement and conversion.

Laptop showing law firm landing page analytics

New Employment Law Recognizes Extraordinary Stress Is Everyday Reality for NY Lawyers


by Bryan Driscoll

A stressed woman has her head resting on her hands above a laptop

Best Lawyers Introduces Smithy AI


by Jamilla Tabbara

Transforming legal content creation for attorneys and firms.

Start using Smithy AI, a content tool by Best Lawyers

How to Create High-Converting Landing Pages for Your Law Firm


by Jamilla Tabbara

Learn how to create high-converting law firm landing pages that drive client engagement and lead generation.

Laptop screen displaying website tools to improve client conversion rates