Succession Secrets

In my experience as an investment banker, business owners often did not understand how to negotiate the sale of their business. Many of them thought that negotiation is about pressuring people to give up most of their upside to make the transaction sweeter for them. This is the so called win-lose strategy. It can work in situations where one party holds all the cards and the other is forced to deal, such as in near-bankruptcy cases. In most M&A deals however, the parties will not do a transaction at any price, unless it benefits them. In these cases a win-win strategy is more appropriate, where both parties needs and constraints are recognized. In today’s episode I discuss the critical elements to negotiating an advantageous deal for your team, by understanding the needs of the other party and helping them get what they want. I also talk about why proposals must be based on logic and how to avoid making one that terminates discussions at the outset. Tune into the Succession Secrets show and if yo