My first Negotiation Golden Rule is “Information is Power: So Get It!” This maxim was taken to a new and untoward level by computer hackers in the Coca-Cola Company’s failed attempt to buy the China Huiyuan Juice Group in 2008. According to The New York Times: As...
One of former Chrysler president Lee Iacocca’s most formidable negotiation challenges occurred when Chrysler sought to avoid bankruptcy by negotiating with Congress in 1979 for a $1.5 billion loan guarantee. Most lawmakers initially believed government should not bail...
The telephone rang and caller ID showed a number starting with zeros. He was calling from South America and wanted to purchase the rights to something I owned. I was intrigued. The call was undoubtedly pricey, so I figured he must be serious. He was. The opening...
You know the type: super-competitive, hard-nosed risk-takers always out to “win.” You also know the opposite type: conflict avoiders. They dislike any conflict, especially the interpersonal kind. And they value peace and quiet above most everything. How we naturally...
What do the NFL, NBA, and federal budget negotiations all have in common? Highly successful parties at the table, many of whom over their careers have developed significant egos. Since we all have egos, why should you care? Because you should use certain techniques...
We were sitting on a Boeing 767 at Sky Harbor International Airport around 4 p.m., waiting for a United Airlines flight to leave for Chicago, when a flight attendant told us our weather-delayed 2:31 p.m. flight would experience even more delay because of a scheduling...
I recently met Richard McWilliam, the long-time Chairman of Upper Deck, the worldwide sports and entertainment company that revolutionized the sports trading card business. Since McWilliam constantly negotiates with sports agents and icons such as Michael Jordan and...
“What’s the single-biggest mistake most individuals make in their negotiations?” a seminar participant once asked me. “And what can they do about it?” The biggest mistake? Most individuals negotiate instinctively, not strategically. Assume you’ve always wanted to own...
I recently decided to hire a publicist to help with the publicity for my first book. While my publisher assigned its own publicist, my agent recommended that I also hire a publicist to augment its efforts. Since almost every businessperson has undertaken negotiations...
