Mastering the use of power of risk taking in negotiations

Description

This Skill Bit highlights the power of risk-taking in negotiations as a way to build commitment and trust. By sharing risks—such as co-investing or bearing joint costs—you signal strong investment in the outcome, fostering shared ownership. However, this strategy requires careful evaluation of risks versus rewards and clear communication to ensure informed decisions. Both parties must understand and accept the challenges involved for the strategy to succeed.

Duration approx. 2 Min.

Tier: proficiency