Negotiation Tips for Business Owners
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Negotiation Tips for Business Owners
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Attorneys Sarah Sawyer and Russell Berger of Offit Kurman discuss negotiations in business and legal disputes, including mediation and litigation. They cover preparing before negotiating. They involve weighing the strength of your facts and legal position alongside the other side’s motivations and constraints as well as setting realistic expectations and building leverage. You should be willing to walk away. Finally, they discuss patience and mental preparation which will help you manage pressure and reach a workable resolution.
00:00 Welcome + Why Negotiation Matters for Business Owners
01:07 Know What You’re Stepping Into: Risks, Record, and Strategy Before You Negotiate
01:34 Two Sides of Every Deal: Your Legal Hand vs. the Human Factor
02:15 Setting Realistic Expectations (Even With a “Slam Dunk” Case)
03:42 Leverage, Mediation, and the Myth of ‘Winning’ a Negotiation
04:22 Your Walk-Away Power: Alternatives, Confidence, and the Car-Buying Analogy
04:55 Patience in the Process: Time, Pressure, and Mental Prep
05:45 Wrap-Up and Final Takeaways