You have another job offer. Here’s what to tell your boss.

People are on the move. You got a great job offer, but not a perfect one. Do you take it to your boss?

It can be a powerful negotiating position, which could end with what you really want: promotion, more money, the ability to work remotely for the long haul.

Then again, the worst case scenarios aren’t great. Instead of enjoying the rush of a raise, you might end up with a new job you don’t want, or grudges and high expectations if you stay.

How do you know whether to bring up the conversation or just make a decision on your own, quietly? And if you do broadcast it, how do you minimize the risk of everything going wrong?

“It doesn’t have to be a dead end,” says Michele Woodward, executive coach in Washington, DC. She recommends negotiating with your boss when the outside offer is about 80% of the way to your dream job. “It’s like dating. You need to express your interest in staying in the relationship.