Old adages are great…they are great and old because over hundreds of year they have proven to be True. In this interconnected world it easy to get overwhelmed but I think we can simply turn to the “Truisms” our youth in almost every circumstance…..Negotiation of a business sale is no different.
Time and Time again I see buyers, sellers and brokers alike posture and jockey for the upper hand in negotiation never realizing when and how they are over playing and escalating emotions of the parties.
The key to a successful sale where everyone wins is …….”Be Nice”. Yes my friends a good deal is one where everyone wins. The savvy buyer or seller who recognizes that that mutual success and benefit are the optimal goal of the deal (remind your attorney of that) are the ones who really win.
My mom used to always tell me “you get more with honey that with vinegar”. Im sure your mom said much the same to you at some point. Remember that…instill it in your business life.
Anyone who knows me knows I have no problem “going to the mattresses” when it is called for; however, as an old bouncer myself i remember that violence does produce an outcome but often times one that is unpredictable and painful for both the winner and the loser…….so “be nice”.
I turn now to my good friend Dalton and some parting words on Negotiation….
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