The Psychology of Negotiation Explained: How Business Leaders Can Master Strategy, Leverage, and Emotional Control

Why Negotiation Is More Than Just Getting the Best Deal

According to Richard Corey, negotiation isn’t just about securing the best terms on paper — it’s about finesse and leverage. Too many professionals, he says, approach every deal with the same aggressive energy, acting like the “tiger in the room.” But real success often comes from knowing when to be firm and when to be strategic.

“There’s no one-size-fits-all approach,” Corey explains. “Sometimes you need to assert control, but other times, you need to focus on building the deal rather than battling the other side.”

He breaks down every contract he negotiates into three categories: deal breakers, important terms, and a wish list. The key, he says, is to never reveal which terms matter most. Skilled negotiators use the less-important clauses as leverage to secure the ones that truly drive the outcome. It’s not deception — it’s strategy.

The Psychology Behind Leverage

Richard Corey emphasizes that leverage is the real backbone of every successful negotiation. It’s about understanding what motivates the other side — their pressures, goals, and limits — and using that insight to guide the discussion.

He compares it to coaching: just as athletes respond differently to motivation and pressure, negotiators must adapt to the psychology of their counterparts. Some people perform best when supported and encouraged; others respond to assertiveness. The art of negotiation, Corey explains, lies in knowing which approach to use and when.

How Emotional Control Shapes Business Outcomes

One of the biggest mistakes entrepreneurs make, Corey warns, is letting emotion guide their decisions. “When you think with emotion, you’re reacting — not reasoning,” he says. “You never want to react. You want to reason.”

He references the classic wisdom from The Godfather: “It’s not personal, it’s business.” Emotional reactions often lead to impulsive decisions, sloppy mistakes, and lost leverage — especially in court or during tense dealmaking.

Maintaining composure allows negotiators to make reasoned, strategic choices based on evidence, risk, and reward — not pride or frustration. “You can always recover from a loss,” Corey says, “but it’s hard to recover from a bad decision made in anger.”

How Richard Corey Earned the Title “The Closer”

Richard Corey didn’t choose the nickname “The Closer” — his clients did. He earned it by consistently resolving high-stakes disputes and closing complex deals for corporations and high-net-worth clients.

His philosophy is simple: get the deal done, no matter how complicated the problem. That requires preparation, logic, and emotional discipline — not ego. “My clients don’t pay me to be their friend,” he says. “They pay me to be their attorney, to protect their interests, and to get results.”

Silence, Timing, and Patience: The Hidden Tools of Negotiation

Corey explains that silence can be a negotiator’s strongest weapon. “The most intelligent person in the room often says the least,” he notes.

In his experience, the first person to commit to a number or position usually loses leverage. For example, if a client names a salary expectation too early, they may unknowingly set their ceiling far below what the other party was willing to pay. Remaining silent — and letting the other side speak first — creates room to assess their mindset, needs, and flexibility.

Patience and timing are equally vital. Once a negotiator commits to a term or number, backtracking becomes nearly impossible without appearing in bad faith. That’s why Corey insists on meticulous preparation before sending any proposal across the table.

Negotiating from a Position of Strength — Even Without Resources

Not every business has the upper hand in negotiations. For smaller companies or startups, Corey advises finding creative leverage.

He explains that even when financial strength is lacking, entrepreneurs can still appeal to human values like fairness, trust, and opportunity. Instead of bluffing or overstating power, they can appeal to the other party’s empathy or long-term vision.

“Sometimes,” he says, “you win by making them want to say yes.”

By understanding what drives the other side — whether it’s profit, reputation, or purpose — a smaller player can shift the emotional dynamic and create leverage from nothing.

When Deals Stall — And What to Do About It

Negotiations don’t always move forward smoothly. Sometimes, one side intentionally delays the process to apply pressure. Corey admits that in some cases, stalling is a tactic with no easy fix — especially when one party holds more resources or time.

In other cases, strategic patience can open new doors. “You have to analyze everything,” he explains. “Sometimes slowing down gives you space to reassess and find new leverage.”

Protecting Relationships While Protecting Your Interests

For Corey, the foundation of every strong business relationship is a clear, fair contract. A written agreement sets expectations, defines responsibilities, and removes emotion from future disputes.

He compares it to constructing a building: “You can’t build a second floor without a solid foundation. Otherwise, you’re building a house of cards that will eventually collapse.”

With a clear agreement in place, both sides can refer back to their obligations without resentment or confusion — preserving both the partnership and the peace.

The Winning Mindset for Entrepreneurs

When asked what mindset entrepreneurs should adopt before walking into a negotiation, Richard Corey’s answer is direct: think big and believe in yourself.

“Fear is an illusion,” he says. “We only fear what we don’t understand.”

He encourages business owners to replace fear with preparation — to study their industry, research their counterparts, and build a deep understanding of their goals. With knowledge comes confidence, and with confidence comes clarity.

Corey’s law firm, RC Enterprise Law, is founded on that very principle: systematic, purposeful activity. Every success begins with a plan, executed one step at a time. “When you focus on the next right step,” he says, “the big goal stops feeling so far away.”

Final Takeaway

Negotiation is not just a business skill — it’s a mindset. Whether leading a multimillion-dollar merger or securing a small commercial lease, the same principles apply: stay calm, think strategically, understand psychology, and always seek leverage.

As Richard Corey reminds listeners, “It’s not about forcing the deal — it’s about creating the conditions for success.”

To learn more about Attorney Richard Corey and his work helping entrepreneurs and corporations navigate complex business challenges, visit rcenterpriselaw.com.