With my side business beginning to actually make money, it’s been pointed out to me that negotiation is a vital skill in the world of business. A skill I currently am quite under developed in, and so I turn to the smartest people in the world - Dopers.
Your choices 
– IG
What’s it worth to ya?
Just remember that nothing in the world of business is free. Don’t ever give anything that you don’t feel you’re getting an equal return for, be it products, information, pricing etc. As soon as you feel that you’re on losing ground, you are. Always have clear thoughts as to what you want out of a given situation and what you’re willing to give up to get those things and don’t budge unless you get a damned good reason, and always remember that those damned good reasons are just someone out negotiating you.
Getting to Yes (Amazon link) is pretty much the official book on the topic - it is used at every top-tier business school that I am aware of. Brief, clear and concise, it presents a structure that makes framing a negotiation more straightforward and your options more clear.
However, nothing takes the place of experience - negotiating is a craft and therefore requires practice to master. You need to identify ways to get that practice - and mentoring - so you are prepared to apply it when the chips are down.
WordMan - head of Strategy and Business Development (i.e., deal-making) for a small, publicly-traded company…
Well, I think honest, frank and direct communication may be a mistake, at least for “employees”, because it just got me fired. Insubordination.
I can’t comment on your situation (sorry to hear about it) but I can say this: negotiating is NOT about “honest, frank and direct communication;” negotiating is about getting what you want in situations where one or more other parties are trying to get what they want. Different types of communication are tools within that context, but nothing more.
It’s a full-contact sport - all is fair. You have to decide how you want to feel about yourself going through the process…
Take a look at Roger Dawson. Here is his web site. I’ve read and listened to The Secret of Power Negotiating.
There are some free articles on his web site to give you an idea of what is in the books and courses.
I train media buyers, the people who go out and negotiate multi-million dollar deals for television, radio, magazine and Internet space.
I have two texts I’ve used over the years to help train buyers. “You Can Negotiate Anything” by Herb Cohen and “Negotiating in the Real World” by Victor Gotbaum.
I encourage my people to practice in real-life situations. And I do promise that if they work for me for a year, they will become the person in their family who everyone wants to take car shopping.
I think the Cohen book really zeroes in on the assets that contribute to negotiating leverage. Two of the most important things in that book, IMHO:
Always be prepared to walk away. Really be prepared. You have to have REAL alternatives before coming to the table, or it will show and the guy across the table will put the screws to you.
Use time as an asset. Never tip your hand that you have a deadline to finish a negotiation. Realize that the other side wants to close a deal as quickly as possible in order to manage cost of sale, so offering up less cash in exchange for less BS can often cement a good deal.
More importantly, what is it worth to me?
Well, yes, however you need to consider the context of your relationship with the other parties. For example, you could press a short term advantage at the expense of the relationship - in other words, they might not want to do business with you again.