So you figured out how to close that sale with a buyer or secure that apparently inexpensive deal with the supplier--great. You made it happen at all costs--not so great.

Don't let financial pressures or an overly aggressive negotiating partner (see Tutorial) force you into an agreement that you'll later regret. For example, when a buyer demands a 25% price cut, explain that this undercuts your profitability and even consider opening up your books. If the client still doesn't budge, be willing to walk away. And as a buyer, take the same action when negotiating with a vendor that refuses to offer the qualities important to your company while tempting you with a cut-rate offer.

You should make every effort to reach an agreement that satisfies both parties. But never at all costs.