Negotiation Columns & Blogs
Latz’s Lessons: Best of 2018
Latz’s Lessons: Best of 2018 Last year I shared the inaugural Latz’s Lessons - a compilation of the crucial lessons from my 2017 monthly columns. Here’s the 2018 edition, with a few extras from previous years included too. And in case you missed my inaugural...
read moreGolden Rule Four: Design an Offer-Concession Strategy
The most common question raised in my negotiation seminars is “When, if ever, should I make the first offer?” The second most common question is “How far should I move for my next concession?” This Golden Rule takes the guesswork out of...
read moreGolden Rule Three: Employ “Fair” Objective Criteria
“I just want what’s fair and reasonable,” a friend said in the midst of his divorce. “That’s not too much to ask, is it?” “Of course not,” I replied. “The key here, though, is how to determine what’s fair and reasonable. I suspect you have...
read moreGolden Rule One: Information Is Power – So Get It
The first Golden Rule is essential to success in any negotiation: Information Is Power—So Get It! It’s critical to ask questions and get as much relevant information as you can throughout the negotiation process. You need...
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What Is Leverage? 14 Rules for Using it Well
What Is Leverage? 14 Rules for Using it WellWhat 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 to...
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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...
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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...
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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...
read moreThe 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...
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Tips for Negotiating with Conflict Avoiders
In our last two posts, we discussed tips for negotiating with accommodative counterparts and tips for negotiating with competitive counterparts. To bring this series to a conclusion, here are three negotiation strategies to consider when your counterpart is a conflict...
read moreConfidence and Success Come From Knowledge and Practice
Confidence and Success Come From Knowledge and Practice “I hate to negotiate,” some of my seminar participants tell me. “It makes me anxious, and I just don’t like horse-trading. What can I do?” “Treat it like a game,” I tell them. “Don’t take it personally. And study...
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The Power of Preparation Always Makes a Difference
The Power of Preparation Always Makes a Difference What is the most universally ignored but most effective negotiation tool? Preparation. I conclude every one of my seminars with this statement: “Prepare, Prepare, Prepare. It’s guaranteed to succeed. The...
read moreStudy: Lawyers Don’t Negotiate Settlements When They Should
While lawyers are widely considered professional negotiators who negotiate a wide range of issues for their clients, a recent study casts some doubt on the negotiation effectiveness of some litigators, especially those representing plaintiffs. According to a New York...
read morePast Relationships Matter
My wife lost her cell phone antenna two days ago as she hiked through the woods near our house. Without the antenna, her cell coverage is extremely poor. So she stopped at a Radio Shack in town yesterday to see if she could get a replacement antenna at a reasonable...
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Negotiating Nice Pays Off
Negotiating Nice Pays Off I was exhausted. I had been forced to take the redeye flight from Seattle to Houston in order to make a 10 a.m. meeting and arrived at the hotel at 6:30 a.m. with only a few hours intermittent sleep. I also had been forced to keep...
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