The Value of Time in Negotiation
Pareto’s Law of the 80/20 Principle has many applications, and negotiation is no exception.
Twenty percent of what you do produces 80 percent of the results. Conversely, 80 percent of what you do produces 20 percent of the results.
In negotiation, this means that 80 percent of your results are generally agreed upon in the last 20 percent of your time. The outcome of the negotiation will largely rest upon the solid 80 percent research foundation that has been set, as to how much has had to be conceded of the original plan.
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