The worst thing to do in a negotiation

Shops such as Guess, Polo Jeans and Timberland at Raffles City had the "sale" sign on them last Saturday when I was there.

People like bargains.

Much of the retail trade plays on this desire for bargains. "Save 20%" shouts the ad. And it works. Sometimes it makes people buy on impulse. In effect they are not saving 20% at all - they are dissaving 80%.

But they are happy because they believe they have paid less than they would have done if they'd bought it outside the sale period.

I am a negotiator. We negotiators expect to negotiate. A first offer accepted without a haggle undermines our confidence in both the deal and ourselves.

That's the golden rule in negotiation and sales: never accept the first offer.