Risk in negotiation isn’t a liability—it’s an opportunity. CEOs who understand risk don’t shy away from it; they weaponise it to outmanoeuvre their counterparts.
Here’s how to manage risk in negotiation:
Identify Hidden Risks: Every negotiation has risks, from hidden costs to reputational fallout. Uncover them before they become deal-breakers.
Shift the Risk: Where possible, transfer risk onto the other party. Push for clauses that protect your downside and keep theirs exposed.
Prepare for Contingencies: Have a Plan B—and a Plan C. The best negotiators don’t fear walking away because they’ve already mapped alternative outcomes.
Negotiation risk management ensures you stay in control, even when the unexpected happens. CEOs who own the risk dictate the rules.