“The buyer paid 8x my client’s EBITDA [a revenue-related financial calculation often used to help evaluate a company’s market value]. He didn’t have to pay this, as he had extremely strong leverage because he was my client’s largest retail outlet and one without...
I know the best way to maximize the financial value of my family business is to hire an investment banker and auction it off to the highest bidder. That’s all about leverage, right? And I need to achieve enough financial security to continue our current lifestyle...
I’m In the behavior modification business. I try to change negotiation behavior from instinctive or intuitive – the way we have negotiated since we were toddlers – to strategic based on the experts’ proven research. I’ve been doing this for almost 30 years, and...
Here’s my annual list of lessons learned and a reminder to put these strategies into practice in 2023. You won’t get better results if you don’t implement them. Each also has a link to my column with more detail. Negotiating with the elderly requires specialized...
Chairman of the Joint Chiefs Gen. Mark Milley recently sparked an uproar within the Biden Administration and strained U.S.-Ukrainian relations when he suggested that the potential stalemate in the Ukraine-Russian War provides a “window of opportunity for negotiation.”...
Almost 30 years ago, I was sitting in my office when a senior partner at the law firm stuck his head in my door and asked if I wanted to join him that day in judging a negotiation competition at Arizona State University’s (ASU’s) College of Law. A senior associate was...
NFL star quarterback Kyler Murray recently signed a $230.5 million, five-year contract extension with the Arizona Cardinals. On its face, this deal appears great for Murray – making him the second highest paid quarterback in the league behind only the Green Bay...
Congress passed the first significant gun control legislation last week in nearly three decades, despite many previous efforts to get something done. What happened in the negotiations that led to this, and how can we apply these lessons to our own negotiations?...
“Our folks don’t think about the sales process as a negotiation. They think the negotiation is just the back-and-forth at the end. This causes problems. How can we reset our culture so they consider the entire effort a negotiation, from their first contact with a...
