In negotiating the sale of a business, a common challenge is the fundamental polarization between the buyer’s position and the seller’s position. The buyer wants the lowest price while the seller wants the highest. Even with various business evaluation formulas based on multiples of sales, revenues or EBITDA, each party’s perception of the true value of the business is often very diverse, particularly with the emotional attachment the seller has to the business due to his effort and investment. In these tough situations that can easily lead to impasse, good negotiators, rather than fight over a fixed pie of value, seek to increase value by introducing creative ideas thereby reaching optimal outcomes.
1. Information Development – Building the Negotiation Structure
- Uncovering and exchanging underlying needs, concerns, constraints and fears
- Managing the tension between empathy and assertiveness
- Mining for and identifying important and relevant information
- Expanding depth and breadth of relevant information
- Managing the tension between agents and principals
2. Joint Problem Solving – The Core of Effective Negotiation
- Understanding the concept of a responsive proposal
- Engaging the parties in joint problem solving
- Managing the tension between distributive and integrative bargaining
- Creativity and innovation in negotiations
- Generating a menu of innovative potential solution packages
- Refining and developing solutions to better meet all parties needs
About the Presenter:
Learn from industry expert, Raphael Lapin, Principal and Chief Negotiator – Lapin Negotiation Services, Inc.
Thank you to our Sponsor:
This meeting will be held at Capital Group Private Client Services.
Address: 11100 Santa Monica Blvd., 16th Floor, Los Angeles, CA 90025