What's in Your BATNA?
How do you determine your best alternatives to a negotiated agreement? First, you have to dissect both your position and your interests. Then, look at the sum of these parts relative to all the alternative options available. Pick the best option. Finally, do the reverse from your counterparts perspective. A well prepared negotiator looks at the whole picture.
Some of the most crucial factors which should be considered include;
The cost - Ask yourself how much it will cost to make the deal relative to the cost of your best alternative. Cost estimation may entail both the short term and the long term. It boils down to figuring out which of your options is the most affordable.
Feasibility - Which option is the most feasible? Which one can you realistically apply over all the rest of your available options?
Impact - Which of your options will have the most immediate positive influence on your current state of affairs?
Consequences - What do you think or estimate will happen as you consider each option as a possible solution?