Ivanka Trump has negotiated a number of deals as the executive vice president of development and acquisitions for the Trump Organisation — and along the way, she says she’s learned that “winning” a negotiation isn’t always the best option.
Business Insider recently sat down with Trump, who is also head of the Ivanka Trump lifestyle brand and advises young professional women with her #AskIT YouTube series, to talk, among other things, about her strategies for success.
She says that negotiation is not, in fact, always purely transactional.
“So many negotiations lead to a partnerships or subsequent opportunities to work together,” Trump says. “I think in those circumstances, you really want to be cognisant of trying to have a positive outcome.”
If you’re buying a used car, for example, then yes, you want to get the best deal. But in negotiations that could lead to useful relationships, coming out on top could wind up costing you in the long run. Sometimes the best thing you can do is lose a less relevant negotiation to create goodwill, which will help future negotiations and collaborations.
What’s more, even if you do think you “won” the deal, Trump says you’d be wise not to let the other person know you feel this way.
“Thinking about negotiation as oftentimes the beginning of a longer relationship can be helpful in terms of how you deal with the dynamic through the negotiation,” Trump says.
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