Joel Peterson speaks on the importance of knowing your BATNA (Best Alternative to a Negotiated Agreement).
I’ve applied this to dating, picking job offers, and buying cars. But sometimes I forget it.
Negotiations go much smoother when you are aware of your BATNA. You simply realize that there are other attractive options. The other party will recognize this by observing how calm you are.
You know when to walk away. Knowing your BATNA ensures that you do not overvalue a deal or overextend yourself to make it happen.