I can’t remember where this quote comes from but I think it is from the legendary negotiation expert and teacher Herb Cohen. It just says a lot. And that was the beauty of Herb Cohen — he would simplify things to their lowest level. He had the most humorous anecdotes, but behind them were very sure and solid principles of negotiation.
What I want to do for you today is show some of the sources of power you may have overlooked, and some you might not even know about. I’m sure you’re wanting to know what those are. So do I. I’ve tried to gather as many as possible to arm you for any type of negotiation.
Before we get into the actual sources of power, remember how important referent power is. If there’s one thing you take away from this article, focus on referent power. It’s the easiest and cheapest to acquire.
I once went into a negotiation about a property. I did my research extensively. I weighed up who had use of power. I then realised I had one source of power I could use to my advantage. You don’t just get this by sitting and twiddling your thumbs. You get it by preparing for a negotiation. If you haven’t heard that term — preparing for a negotiation — then look it up, because it involves a lot. Anyway, onto the meat of this article.
Negotiating in life and business is — well, let’s just say it’s the lifeblood of any system. It’s a system of exchanges. And when you get into formal exchanges, you need to know how to operate.
Sources of Power in Negotiation
Here’s a list you can keep in your back pocket. Some of these are obvious, some are subtle, and some operate almost unconsciously.
The Classics
1. Referent Power – Comes from likability, trust, and reputation. People want to deal with you because of who you are.
2. Expert Power – Your knowledge, skills, or unique experience give you leverage.
3. Information Power – Having data or insights the other party doesn’t.
4. Legitimate Power – Authority from your role, position, or status.
5. Coercive Power – The ability to impose consequences (or simply walk away).
6. Reward Power – The ability to give benefits or incentives.
The Practical Add-Ons
7. Financial Power – More resources or less financial urgency than the other side.
8. Time & Patience Power – Being able to wait while the other party can’t.
9. Connection Power – Who you know, and who you can reach.
10. Personality Power – Charisma, confidence, humour, or even just being easy to work with.
Often Overlooked but Crucial
11. Moral Power – Aligning with ethics or values that resonate with the other side.
12. Procedural Power – Controlling the process: where, when, and how talks happen.
13. BATNA Power – Your Best Alternative to a Negotiated Agreement (the stronger your fallback, the stronger your position).
14. Cultural Power – Knowing and using cultural norms to your advantage.
15. Psychological Power – Understanding human biases, emotions, and framing.
16. Reputation Power – Your track record and credibility that speak for you.
Final Thoughts
Most people underestimate how many forms of power they actually have. Some are obvious, like money or information. But others — referent power, moral power, even patience — are invisible until you use them.
So next time you walk into a negotiation, don’t just ask, “What do they want?” Ask yourself: “What sources of power do I already hold?” Chances are, you’ve got more than you think.
And as Herb Cohen might have said — if you think you’ve got power in the negotiation, then you’ve got power.
