As negotiators, every time that we enter into a negotiation we hope to  be able to use our negotiation styles and negotiating techniques to walk  away with a deal that we can live with. 

However, in order for that to  happen we have to have taken the time to prepare for the negotiation.  All too often this is exactly what we don’t do. When you haven’t done  the necessary research, you are likely to leave value on the table and  even to be taken advantage of by the other side. What you need is a  negotiation preparation checklist that can help you avoid this scenario  by helping you think through your position, the other side’s position,  and what might happen when you get together. We do need to understand  that business negotiations are highly unpredictable. It is possible that  some of your prep work won’t turn out to be relevant, and new issues  and problems will crop up and demand your attention. 

However, having a  solid understanding of what’s at stake and where each side is coming  from will help you do a better job of thinking on your feet.