At this point, I don’t feel equipped to throw out a number because I’d like to find out more about the opportunity first – right now, I simply don’t have the data to be able to say something concrete. If you end up making me an offer, I would be more than happy to iterate on it if needed and figure out something that works. I also promise not to accept other offers until I have a chance to discuss them with you.
And they answer, "Sorry, I cannot move forward without a number."
Stalemate.
I've been there and maybe I just don't enjoy awkward silences enough but my strategy is to have two numbers ready:
1. My Public Number: the inflated number I give out when pressed. It's grounded in reality but vigorously optimistic. I'll often offer this up front just to anchor the discussion. I make sure it's a number I will be more than happy with, even it turns out that maybe it wasn't as much as they were prepared to offer. If the other side finds it out of the question, I've saved myself time and stress.
2. My Walkaway Number: in the event the offer is lower, which it often is, the number below which the offer gets rejected. I don't share this publicly.
These vary based on other factors of the offer. But I have them ready. And I stick to the second number.