{"id":12873,"date":"2022-06-20T00:00:00","date_gmt":"2022-06-20T00:00:00","guid":{"rendered":"https:\/\/www.scotwork.com\/nz\/blog-nz\/those-who-speak-first-lose\/"},"modified":"2022-06-20T00:00:00","modified_gmt":"2022-06-20T00:00:00","slug":"those-who-speak-first-lose","status":"publish","type":"post","link":"https:\/\/www.scotwork.com\/nz\/blog-nz\/2022\/those-who-speak-first-lose\/","title":{"rendered":"Those who speak first, lose"},"content":{"rendered":"
\n

The worst piece of advice ever given to a negotiator?\u00a0Don\u2019t share information<\/em>.<\/em>\u00a0At some point in our development as negotiators, we\u2019ve all heard things like, \u201cThose who speak first, lose\u201d or \u201cHold your cards close to your vest.\u201d Not sharing information, or sharing only limited information, is one of the most destructive strategies that could be implemented at the negotiating table.<\/p>\n

Let me preface the following by saying, I\u2019m not about to advocate full transparency or a complete open-book approach to negotiating. What I will say is that sharing information isn\u2019t only a frequently effective strategy, but it can also help reduce the amount of time that a negotiation takes, not to mention preserve critical relationships. That said, why do people not share information?<\/p>\n

I\u2019ve observed or participated in thousands of negotiations, and when I see dealmakers hesitate to share bits of information, I ask, \u201cWhy?\u201d The majority of them tell me it\u2019s because they\u2019re afraid that the information will be used against them later on. While that\u2019s not an unreasonable fear, it\u2019s also not necessarily the case.<\/p>\n

Yes, there\u2019s some information that, if shared, may disrupt the power balance and give the other side a competitive advantage. That\u2019s the information that you should protect. But what tends to happen is that negotiators can\u2019t discern between good information to share and bad information to share \u2014 so out of fear of making a mistake, they don\u2019t share any information at all. That leads them to not sharing some pretty innocuous information that could actually help to speed up the negotiation process.<\/p>\n

I can\u2019t give you a blanket rule \u2014 \u201calways share this\u201d or \u201cnever share that.\u201d But I can tell you that, at the core of the issue, you must be able to evaluate the information: \u201cHow will it help me?\u201d or \u201chow will it hurt me?\u201d If it can help you, then share the information and share it early. If it will hurt you, then don\u2019t ever share it. Here are some questions to ask yourself that can help you decide whether sharing information will help you or hurt you:<\/p>\n

    \n
  1. Is this information already available?<\/strong>\u00a0Sometimes we protect information that\u2019s already readily available, and we didn\u2019t even realize it. It could be that it was shared in previous conversations or emails; or that it was in a current or previous contract; or that it was a matter of public record. If it\u2019s already been disclosed, no need to hide it now.<\/li>\n
  2. Will the information help structure the other party\u2019s expectations?<\/strong>\u00a0If the other party is going to go off on tangents, or if they have unrealistic expectations about the situation, it\u2019s better to tell them what they need to know at the outset, so that you don\u2019t waste time on things that will never come to pass.\u00a0<\/li>\n
  3. Will this information help you avoid answering a difficult question?<\/strong>\u00a0We all have questions in a negotiation that we don\u2019t want to answer. Sometimes you can preempt or avoid the question altogether by sharing certain information upfront that broadly explains the details that you don\u2019t want to disclose.<\/li>\n
  4. Will this information help you gather more information from the other side?<\/strong>\u00a0Sharing information can encourage the other side to share information. If you can trade for information that will help you, then share it. The more information you can gather, the better.<\/li>\n
  5. Will the information increase the value of the deal to you?<\/strong>\u00a0If the information can help you get a more valuable deal, then share it. For instance, sharing volume potential could help get you a better deal. However, if the information will decrease the value of the deal, then don\u2019t share it.<\/li>\n<\/ol>\n

    Here\u2019s one more helpful hint: Get together with other people on your team and explore the answers to these questions. Gaining other people\u2019s perspectives can help you see past your own blinders. More importantly, analyzing the information you have to share can give you a strategic advantage and help you close more valuable deals faster.<\/p>\n\n

    Let Us Help You Know When to Share Information<\/strong><\/p>\n

    Is not sharing information, or sharing only limited information, chipping away at the value of your deals, not to mention costing you time and critical relationships?\u00a0We can help!\u00a0Drawing on 45 years of real-world negotiating experience, we\u2019ll assist you with getting better deals, saving time, and creating value for all involved \u2014 not to mention preserving and even strengthening relationships. Let us partner you with one of our advisers, ensuring that you\u2019ve got the broadest view of your deal.<\/p>\n

    Talk to one of our experts today:<\/p>\n

    E: info@scotwork.co.nz<\/a><\/p>\n

    P: 04 2979069<\/p>\n<\/article>","protected":false},"excerpt":{"rendered":"

    The worst piece of advice ever given to a negotiator?\u00a0Don\u2019t share information.\u00a0At some point in our development as negotiators, we\u2019ve all heard things like, \u201cThose who speak first, lose\u201d or \u201cHold your cards close to your vest.\u201d Not sharing information, or sharing only limited information, is one of the most destructive strategies that could be…<\/p>\n","protected":false},"author":65,"featured_media":12874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_legacy_url":"blog-nz\/2022\/those-who-speak-first-lose\/","footnotes":""},"categories":[1],"tags":[],"class_list":["post-12873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nThose who speak first, lose | Scotwork NZ Negotiation Blog<\/title>\n<meta name=\"description\" content=\"World leaders in 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