In her Monday New York Times article, “Trying to Sell Your Business? Think Like a Buyer,” Barbara Taylor asks, “Why is it so difficult for business owners to put themselves in the shoes of a potential buyer?” One of the main reasons is the vast...
Hertz Global Holdings Inc. recently announced its plans to buy Dollar Thrifty for $1.2 billion, about $41 per share. Almost immediately, the standards dance began in the negotiation between Hertz and Dollar’s shareholders, which must approve the deal. Yesterday, a...
In sophisticated negotiations, the parties will typically find the standards that favor their side and use their most favorable standards to independently justify the “fairness” of their positions. The parties will then negotiate over which standard represents the...
USA Today provides us with another great example of the standards dance – where opposing sides make their case as to why their standards are the “most fair.” In researching compensation differences between government employees and private sector employees, USA...
Tips for Negotiating with Accommodative Counterparts In our last post, we shared several tips for negotiating with competitive counterparts. Here are three negotiation strategies to consider when your counterparts’ style is more accommodative,...
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...
You arrive at Dick’s office promptly at 10 a.m. for the negotiation and you’re asked to take a seat. Dick, whom you’ve never met, apparently is running late. Thirty minutes later, Dick appears, apologizes for the inconvenience, ushers you into his office and...
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...
The vast majority of business professionals and lawyers acknowledge the value of strategic planning. “Of course strategic planning makes sense,” they admit. “We do it all the time, especially in setting our goals.” Yet many of these same...
