REAL-WORLD INSIGHTS

Published: Oct 19 , 2020
Author: Brian Buck

I hate when I make a mistake. It’s not because I expect to be perfect; it’s because I find that my mistakes usually mean that I let someone down or created unnecessary issues — two things that I really hate doing. Therefore, I hate mistakes. But they happen. They happen to all of us. That said, what happens when a mistake is made during a negotiation?

Published: Oct 12 , 2020
Author: Brian Buck

During The Princess Bride’s epic sword fight scene, Inigo Montoya asks his opponent, Westley, who he is. Westley responds, “No one of consequence.” Not satisfied, Inigo pleads, “I must know,” to which Westley replies with a life lesson: “Get used to disappointment.” Little did Westley know, that’s exactly what all negotiators must overcome — disappointment. Every negotiator walks into a negotiation with expectations and, at some point, faces the reality that so does the other side. How dealmakers navigate their own expectations will have a tremendous impact on the outcome of their negotiation, including whether they’re satisfied or disappointed.

Published: Oct 05 , 2020
Author: Randy Kutz

It’s often been said that nice guys finish last. In the world of dealmaking, this may or may not be true. While being kind and winsome at the negotiating table can serve to build rapport, cultivate trust, and create a collaborative environment — all essential ingredients for success — these EQ traits have to be rooted in ethics.