The Negotiator's Playbook

Life is one big negotiation--be it with your boss, spouse, customers or the used-car salesman.

Formidable deal makers like Warren Buffett, Bill Clinton and sports agent Scott Boras tend to be born, not made. But talk to negotiating pros from the worlds of government, finance and media, and they'll admit there is at least some science to this art--and there's no better time to master it than in a severe economic downtown.

Knowing, for instance, how to negotiate easier terms with suppliers can be the difference between conquest and carnage. "Vendors will be more lenient when it comes to negotiating financing options if they can lock you into a long-term contract," notes Gregg Bedol, business consultant with Red Zone Consulting in Atlanta. In this environment, Bedol recommends angling for friendlier financing on high-volume items like paper, ink and toner.

Winning every point in a negotiation is rarely an option, of course, but if you keep a few principles in mind, you can tilt things in your favor--whether you're signing a peace treaty or re-jiggering contracts.