Improve Your Negotiations With The 5 Golden Rules.   LEARN THEM
Latz’s Lessons: Best of 2018

Latz’s Lessons: Best of 2018

Latz’s Lessons: Best of 2018   Last year I shared the inaugural Latz’s Lessons – a compilation of the crucial lessons from my 2017 monthly columns. Here’s the 2018 edition, with a few extras from previous years included too. And in case you missed my...

Golden Rule Four: Design an Offer-Concession Strategy

The most common question raised in my negotiation seminars is “When, if ever, should I make the first offer?” The second most common question is “How far should I move for my next concession?” This Golden Rule takes the guesswork out of when, where, and how to make...

Golden Rule Three: Employ “Fair” Objective Criteria

“I just want what’s fair and reasonable,” a friend said in the midst of his divorce. “That’s not too much to ask, is it?” “Of course not,” I replied. “The key here, though, is how to determine what’s fair and reasonable. I suspect you have a very different perception...

Golden Rule One: Information Is Power – So Get It

The first Golden Rule is essential to success in any negotiation: Information Is Power—So Get It! It’s critical to ask questions and get as much relevant information as you can throughout the negotiation process. You need sufficient information to set aggressive,...
Price Not Always The Best Way to Lead Off Negotiations

Price Not Always The Best Way to Lead Off Negotiations

“Why waste time dealing with those other issues if we can’t even agree on price? Let’s just start with price and, if we can reach agreement on it, then we can address the rest.” This not-uncommon approach appears to make intuitive sense. After all, no one disputes the...
Know the Value of Your Product to Your Customer

Know the Value of Your Product to Your Customer

Thomas Edison added up the time and killing pace he had put into inventing the “Universal” stock ticker, a device later used by brokerage houses, and decided he was entitled to $5,000 for it. Ultimately, he figured he’d accept $3,000. So when General Lefferts, the...
Walkouts Present Risk in Negotiation Strategies

Walkouts Present Risk in Negotiation Strategies

Walkouts Present Risk in Negotiation Strategies Donald Trump has walked out of so many negotiations near the end – purely as a negotiation strategy – that the “Trump walkout” has become one of his trademarks. Editor’s Note: this article was published November...

Hold Out: Timing is Critical When Selling Companies

They offered him $15 million for his software company, and he said “No.” So they offered him $25 million, and he said “No” again. Finally, they asked him what it would take. “My board will not accept anything less than 3 million shares (worth about $45 million),” he...