3.Deal at the right level. It happens all the time in the tech industry: When CIOs deal with multinational software and hardware organizations they frequently have no real idea who the boss is. They negotiate hard, think they have struck a deal, then suddenly find they have to start negotiating all over again with someone in a different country.

"Nothing is more frustrating than trying to do a deal with an individual who can't make the final decision," McKee says. "It's like negotiating against yourself. You address an issue and try to come to a conclusion and then the other person takes that to someone else 'behind the scenes' only to come back and say it can't be done on those terms. It's far more efficient and effective to find the right person to negotiate with directly," McKee says.

Really effective people know what level to deal with and if they don't get to deal at that level, they don't deal at all, McKee says.

"At the very beginning of the negotiation CIOs should ask: Are you capable of authorizing this deal? If we come to deal today do you have the authority to shake hands and sign this deal?" If the answer is no, they should be insisting that whoever does get involved in the negotiation.

4.Do due diligence and come prepared. The more information you have surrounding the circumstances of your endeavour, the greater your chances of not only prevailing but also getting the best deal possible. You might succeed by shooting in the dark but failing to understand the extent of the opportunity could mean you unwittingly leave too much on the table.

"Whether it's the average pay for a given job, the price typically paid for a product or a service, or who you are in competition with for a new position — knowledge is truly power," McKee says. "Understand the deal points that you want to come out on top with, and if you can beforehand, prioritize those from least important to most important.

"Too often people fancy that they are smart businesspeople or CIOs who know all there is to know about the sector and they don't take the time to think about it, map it out beforehand. In some cases you do not have that opportunity to prepare but wherever possible understand that you want to be able to get what you want or walk away.

"It's not just understanding the market but also expecting what the other side is going to throw at you, being prepared to deal with it and non-emotionally. If they throw you a curve ball, that's a good time to call a halt. If something comes at you out of the blue that you're not prepared for it is likely you will get emotional or you will end up responding in a way that you regret later."