How False Urgency Kills Deals

Many dealmakers are tempted to employ a sense of false urgency when negotiating a deal in the hopes of gaining the upper hand and a more favorable outcome, such a car lot employee insisting a car must be bought that day– but this cheap trick, a favorite of scammers and salespeople, often does more harm than good.

Attorney, professor, and BigSpeak’s EVP Ken Sterling knows that timing is a critical element in the negotiation process, and in his recent article for Inc, he warns it’s vital to only set such deadlines when real consequences are in play. This can range from tax submission dates to train departures, and in both cases, we stand to suffer if we aren’t prompt in meeting these deadlines.

The same applies to dealmaking: communicate real and reasonable deadlines to negotiation partners so they can make timely decisions, and respect them and their experience enough to not employ underhanded tactics like using fake deadlines to create a sense of crisis.