What Is Leverage? 14 Rules for Using it Well

What Is Leverage? 14 Rules for Using it Well

What Is Leverage? 14 Rules for Using it Well What is Leverage? What most consider to be negotiation power — leverage — actually relates to two factors: how much each party needs that deal relative to the other, and the relative value of each party’s best alternative...
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...
Don’t Cut to the Chase

Don’t Cut to the Chase

Don’t Cut to the Chase — Prepare for Your Negotiations A small business owner with a huge potential opportunity in a negotiation with a large company contacted me recently and asked how to respond to the company’s request that he make them an offer. He told me...

The Five Golden Rules of Negotiation for Lawyers

Let’s say you’re sitting at your desk Monday morning, your telephone rings, and it’s Jane, opposing counsel in one of your cases, calling to see if you might be interested in discussing the offer she e-mailed you last week. Because you’re mostly up-to-speed on it, you...