Part 2/11:
One of the most pivotal concepts in negotiation is the Best Alternative to a Negotiated Agreement (BATNA). Imagine you're eyeing a used car priced at $10,000 but have another similar car option available for $9,000. This $9,000 car is your BATNA, representing a backup plan should the current deal falter. BATNA is crucial because it empowers you to walk away if negotiations don’t meet your expectations. The stronger your alternatives, the more leverage you hold during discussions. Studies confirm that simply knowing you have a BATNA fosters a confident negotiating stance.