Have you ever been to an auction and all of a sudden it seems that the bidding is ridiculous given the item up for bid. That is “deal heat”. When you are involved in a negotiation and you “just have to have it”, you will make some of the worse decisions in your life. There is no space that you can’t walk away from. There is no deal that is so absolutely essential to your future that you should grossly over pay to acquire it. Prepare, evaluate, analyze and prepare again.
“Deal heat” turns the sharpest, shrewdest and wisest people in the room into blithering idiots. You can’t prevent “deal heat”, you can only hope to recognize it and chill.
