Negotiation
Time + the 80/20 rule
August 5, 2007
Vilfredo Pareto the Itlian economist discovered that 20% of what we do accounts for 80% of the results and vis versa. In a negotiation 80% of the concessions come in the last 20% of the negotiating time available. Make sure you control the negotiation time rather than letting the other side do so. Politicians are very good at this. Tony Blair at the Northern Ireland peace talks said that the negotiations had to be concluded by Easter Friday. They were, with 2 mins to go, after 30 years of troubles. Both sides making large concessions at the last minute.
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