The term BATNA, or Best Alternative To a Negotiated Agreement, typically refers to your fallback plan in the event that whatever negotiation you’re involved in doesn’t go through. Whether you’re negotiating the salary for a new job or the acquisition of your company, having a solid and strong BATNA can help strengthen your overall position.
However, the practice of developing options and alternatives is imperative outside of direct negotiations as well.
Let’s say, for example, you’re a startup that’s developed a shiny new widget. Its ready to go, you’ve poured everything you have into it: time, money, blood, sweat, tears, political capital with your family, the whole shebang. Now you’re working on that first big sales contract or you’re taking your consumer based product to market directly to customers.