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5 Multimillion-Dollar Negotiation Mistakes (and How to Avoid Them)

Learn from the Biggest Negotiation Blunders in Business History

Decisions, Decisions

There are many times in life when a poor decision is going to cost you some money.

There are the little decisions that bug you, like waiting too long to buy an airline ticket and the price jumps $60, buying a pair of jeans only to see them go on sale for 50% off the next week, or illegally parking your car for just a minute while you run an errand, only to find a $125 ticket on your windshield when you come outside.

Then there are some big decisions. One look at Wikipedia’s list of most expensive divorce settlements – twenty-two of them more 50 million dollars! – will make you shudder.

However, some of the most critical turning points can happen in a situation that you have some control over – a negotiation. Here are five multi-million-dollar negotiation mistakes.