Leverage in negotiations can exist in many forms. It could be as simple as a vendor having a unique product or a preferred customer who is the largest account and warrants special considerations. It can be the way one party uses their marketing prowess or how a small company takes advantage of a great customer service reputation. Although your leverage can give one party the upper hand, it usually exists on both sides. When leverage is balanced it can help steer a transaction toward Win-Win. The following sections will cover leverage from the ground up, starting with the power sources, which serve as the foundation.
To understand how leverage works in negotiation you must understand power sources. Power is the basis through which you can influence others, trigger responses, and execute negotiation maneuvers. By understanding your power sources in a given situation you can identify the tactics and techniques most likely to help you get your interests met and achieve your goals in a negotiation. In the next six chapters we will explain power sources, negotiation tools, and a simple method that will help you select the best approach in any given situation.
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