During March Madness sports fans affectionately refer to the NCAA Basketball tournament as “bracketology”. It’s a 65 team playoff, over 18 days, single elimination (winner keeps going, loser goes home)…one ultimate winner. I think it’s the best event in sports.
In negotiation, we sometimes pride ourselves on “thinking on our feet” or “winging it.” Don’t fool yourself. There is a better way. It’s called “bracketizing.”

The best chance for Negotiation success comes from what we call “Aggressive Preparation”. In the Humble Confidence Negotiation Workshop we dive into the 6 Stages of Negotiation Preparation. Stage 5 is what we call “bracketizing” our offers. We prepare and bracket 4 offers:

1) The Best (better than expected)
2) The Realistic (what it should be)
3) The Fallback (acceptable range of backup)
4) The Alamo (don’t go there…call a timeout!)

Bracketizing means we project ahead and determine a range of offers. We gain the discipline of staying within the plan, or “bracket”. We never “wing it” or freelance deals at the table. Never.

Now that’s not to mean we’re rigid or “un-creative”. Not at all. But it does mean we control our emotions and don’t get caught up in the euphoria of deal-completion. Sometimes we just want to be done…be careful not to let your desire to finish drive a sub-par outcome.

Bracketizing is just one stage. There are 5 more in “Aggressive Preparation”. We call it “Aggressive” because you have to drive your team and yourself to embrace the process. And remember, 90% of a successful negotiation happens in this stage, before you even get in the room!