If you are the buyer, know exactly what you want, what it is worth to you and what you are willing to give in exchange for it.
You may be either a seller or a buyer but it is important to know at what point you will walk away and be always willing to walk away.
If you are a seller, clearly articulate the value that you are offering and why your request is reasonable.
While selling, always set the bar high and back down to what you are really hoping for. Sometimes you may get more than what you expect simply by asking for it.
Use awkward silence to your advantage. People hate silence and tend to fill it, giving you an upper hand.
Never make things personal or allow them to get personal. Redirect everything back to the topic on the table. There should be no emotions involved in negotiations.
Never settle for a bad deal. Getting a bad deal is worse than getting no deal.
