The Art of Negotiation

do you define success in economic or non-economic terms? What about your partner? What about your opponent?

this episode paint the picture that’s gonna be the basis of our discussion for the next five or six episodes

Like it or not, the deal is only what is on the document.

Responding to a scrapper

There is nothing wrong with having a personal and business goal in negotiation. But when the true goal surfaces after the negotiation framework is established, the true goal can be exploited by the other party.

What is your plan when you have to accept the unacceptable?

if you haven’t already considered that the other side could walk away well now you’re gonna have to come up with a Plan B and plan C. This might be the best thing that happened to you.

Sometimes before you’ve signed the deal, you realized you missed her maiden mistake about a key provision in the agreement or negotiation. When is it a good time to bring that up and how do you approach it?

Preparing to negotiate requires studying the other side’s public narrative so that you can use how they ascribe value against them. Social media scouring can help but also understanding - in a compensation negotiation for example - how they tell the financial markets their forward price to earnings.

This episode covers time and psychological factors that can tip leverage one way or another.

How do you discover your leverage when you’re just starting out? Sometimes it requires some negotiation - with yourself.

How does one negotiate out of a 50:50 business partnership that they feel they must end? And what information do they need to know to gain leverage?

Join me over the next 8 episodes in the Art of Negotiation Podcast by Gregory Rutchik, a business attorney. Negotiation strength is essential for business executives, owners of a business, single women, newly divorced, single moms, an employee or even a renter. You will learn to focus on finding leverage in all business - and sometimes personal - negotiations so that you can protect your interests and get what you want. For more than 30 years Gregory has represented diverse businesses, entrepreneurs, C-suite executives, boards of directors and solos negotiate and litigate bet the business agreements against the largest US and non-US adversaries including Ford, Microsoft, Apple, Intuit, Google. He is based in Los Angeles - www.rutchik.com

if someone tells you their list of wants, you could just start replying to their wants or you could completely reframe the conversation in various ways1) you could start off by saying this is the process you’d like to have for the negotiation. You don’t even have to respond to their first offer or a pitch or position.2) you could list of all the things you think both parties agreed to. It’s called Bridge building start off telling them what you believe that both sides agreed to and that you certainly agree to and see if you can can’t start it with a bridge.3) you could also start off by accepting some of the things that they offered and then come back with either a reframing of the method and process of your negotiation or a bridge building offer

there are three general expectations1) promises you’ve already obtained2) promises you have not obtained that have been promised3) promises you never asked for that you realize now are documented expectationsIn business relationships, you have to have an expectation that is aligned with the enterprise for the owner of the enterprise to pay you, generally .Sometimes, however, you are the owner or the co-owner and you’ve been replaced by a new owner with whom you must renegotiate something that you probably could’ve done for yourself when it was just you. Expectations that are emotional ego based about title and about paying for memberships to Club or less about economics that are aligned with the enterprise and Moore, about Lifestyle these have the greatest connection to ego and the least likely reasonable basis for being met, unless you control the cash register.

Negotiation takes preparation. There are many misconceptions for example should you speak first and should you tell the other side what you want? This episode talks about these issues and emphasizes ultimately what you already know: be prepared.

protecting against the worst case scenario requires you to actually take responsibility for the documents that you sign. Do you read everything you do you actually look for every exhibit that’s connected to the agreement that you’re supposed to sign? If you don’t, you should because those formalities are gonna matter if what you enter into ever become successful and some third-party wants to look or if it becomes a problem and you need to go figure out what happened.

Why are you negotiating and what is your goal?How do you prepare? Should you talk first? Do you have a red line that if they cross you out or do they have a red line if you cross you out how do you find out? This podcast is a short primer to provoke a conversation and better preparation

One of the basic things you do when you create a business is to form an entity like an LLC or corporation or even a partner. When you form the entity, you file certain documents with the secretary of state of the state, you’re in or the state you want to establish in. But the documents filed the secretary of state don’t set out your agreement between you and the company or between you and your partners. It might help to go over some basics to avoid various problems.Send me your problems at gregory@rutchik.com or call my office for a free consult 310-570-2399

Women often put aside their emotional intelligence superpowers in an attempt to understand what men described as traditional, business issues, profits, and losses, balance sheet insurance mortgages, and contract contracts. Women however, have much more experience in using a more powerful tool than men to solve these important business issues. Their gut.