"Tommy Can You Hear Me?"*

*A song written by the great Pete Townshend of The Who

The one who listens is the one who has the power in the conversation. Why? Because listening will guide you to create an accurate picture of the deal in the parties' minds. The negotiation pro, Stuart Diamond, describes this as painting pictures in the mind of the parties. The mind is the most important tool to effectively achieve your goals in a negotiation. Paint your master piece by asking good questions and by truly listening to the answers.

Here are some good questions to ask next time you want to paint pictures in the minds of the parties:

• What problem will this deal solve?
• Why are we solving it this way?
• What is the value proposition of this deal?
• What is your biggest fear of this transaction?
• How did you develop your business model?
• Can you walk me through a sample transaction from the beginning to the end?

Adopt the mindset of a listener and you will be well on your way to being a rockstar dealmaker.

(photo from http://www.seeklogo.com/)

Negotiation Steps for Wimps

Are you a negotiaphobe? Does the thought of actively participating in a debate-like discussion run chills through your spine? It’s OK – negotiaphobia is more common than one might think. The fact of the matter is that we spend so much of our time negotiating that it’s truly an integral skill to possess.

So, you’re a negotiation wimp … who cares? All you need to do is follow these five steps – which we pulled from the one and only One Minute Negotiator by Don Hutson and George Lucas – and you’ll be a pro:

STEP 1: PREPARE

Know who your opponent is. Do your best to understand his or her stance before you enter the negotiation. On the contrary, know your own stance. Do your research so you can cover all bases in case your opponent throws a curveball at you.

STEP 2: PARTNER WITH SOMEONE ON YOUR SIDE

Find yourself a strong ally before you enter the negotiation. Learn from him or her possible selling points you may not have thought of yourself. Having an ally will also pump you up with confidence, knowing you’re not the only one who believes in your case.

STEP 3: USE A CHECKLIST

The worst thing you could do is go into your negotiation and forget everything you stand for. Take a moment to write everything down. If you’re more visual, use a mind map. If you’re more of a perfectionist, write yourself a script. Don’t be ashamed to bring your checklist with you while negotiating; you may feel silly but you sure as heck won’t when you nail all your points.

STEP 4: ROLEPLAY

Role-playing is not just for children and theater geeks; hard-core negotiators do it, too. Find someone, perhaps your ally, who knows all your hard-selling points, and have him or her throw some sticks in your spokes – this will prepare you for the real negotiation and you’ll be far more prepared.

STEP 5: ALWAYS BE HARD ON DEAL POINTS AND SOFT ON PEOPLE

You don’t want to go into your negotiation like a harda** -- that usually doesn’t go over well. It’s intimidating and has a track record of pissing people off. Instead, lay down the law with your points, but be as kind as can be when addressing your opponent. You want him or her to like you and eventually agree with you. Entering your negotiation on your high horse is most likely not going to be effective. Stay grounded on your points, stay sweet to your opponent.

So, negotiation wimps, you have no excuses now! Just try out these five negotiation tips and you’re sure to be a pro soon. Negotiaphobia, what’s that?

[Photo from KingofGeorge.blogspot.com]

Deutscher Meister Foosball Table Giveaway

Dear Readers,

We have in the WieseLaw Contract Studio a Deutscher Meister foosball table that we'd like to get rid of. We don't want this table to land in just anybody's hands, however. What we'd like to do is donate it to a local program that could use a little foosball fun. Some spirit brightening, if you will.

Here's where we'd like your help -- we want to know what organization could use this foosball table and why. Just leave us a comment with the name of the organization, why they deserve it, and the contact information, and we'll choose a company to adopt our lovely table.

Thanks for your help! We really appreciate it.

The Deal Graveyard

Steer clear of these terms -- they've killed many great deals:

The Brilliant Negotiator Within

I saw this young kid at the bike shop trying to convince his parents to get him a bike. He was a brilliant negotiator. His dad finally agreed to his complex proposal for a new set of wheels. This made me think that negotiation is an innate skill that we all possess but, with time, lose touch with. We supposedly “grow up” and in the process become negotiation wimps. Think back to when you were a child and tried to convince your parents to let you do things. You probably had a good success ratio.

It’s a common misconception that either you’re born to negotiate or you’re not, but I think that negotiation is a mindset and skill we all possess and need to reconnect with. When we were kids, we were authentic, we knew what we wanted and we knew what buttons to push so our parents would cave. As an adult, we struggle to be authentic, are often confused about what we want and treat everyone the same.

Brilliant negotiators are born inside us all, they just tend to die through the process of growing up. If you can overcome this irony and reconnect with the mindset and skills in your mental storage locker, you will be well on your way to becoming a great negotiator … AGAIN.

The mindset and skill children have are the same as the framework that Stuart Diamond, author of Getting More, says should be used for each and every negotiation.

• Be authentic and know the desired goal(s)
• Understand the other side and act accordingly (each person is different we must figure out how to connect with them versus overpowering them – focus on them versus yourself).
• Figure out what it will take to persuade the others in this deal.

We all negotiate 20 to 40 hours a week. In fact, the value of your life is the sum total of the deals you negotiate. Why not reconnect to your brilliant negotiator within and kick some ass. Connecting to your natural brilliance comes from focus, practice, desire and persistence or, in simpler terms, from acting like you did when you were a kid.

(Photo from lovingyourchild.com)

Getting to "No" You

I have recently learned getting to "yes" is often proceeded by saying "no." A couple months back I was offered what I considered to be a dream job: great pay, international travel, the ability to work from home. Naturally, I jumped on the opportunity. I told my boss, my friends, my family – everyone – about my new gig. I purchased fancy clothes so I could be more businesslike. I spent all the money I knew I’d be getting before I saw a dime of it. After days of indecisiveness and tiring debates with myself, it hit me like a brick in the face: this job wasn’t right for me. I couldn’t quite voice why not, but I knew I had to say “no” to this seemingly unbeatable offer.

Saying "no" to that opportunity lead me to something that felt right: WieseLaw Contract Studio. Here I am surrounded by business-igniters and thought leaders, jokesters and geniuses. Though I bid adieu to the prospect of designer clothes and trips around the world, I said hello to something even better. And look: after just a few weeks’ time, they taught me how magical it can be to say “no.”

This concept may seem a bit strange at first, but it’s something we should all try to embrace and find comfort in. Nobody gets ahead by being a pushover, and they shouldn’t. What gets people far in life is having opinions and making definitive decisions. Here are a couple pointers to help you say “no:”

- Get over it: saying “no” doesn’t make you a bad person. It makes you a decision-maker.

- If you go into a negotiation and are slightly uncomfortable with it, get it out on the table. Let the person know right away that you’re leaning towards no.

- Remember what “no” often times leads to: an opportunity to say “yes.”

So next time something does not feel right, have the courage to say "no." And remember, when someone says "no" to you, don't sweat it -- they may be trying to open a different door down the road.

The Looming NFL Lockout & the Shrinking Pie

AP Photo/Haraz N. Ghanbari

Back on October 12, 2010, the owners of the 32 NFL franchises met behind closed doors in Chicago. Dominating the news with respect to this meeting is the looming 2011 work stoppage predicted by many NFL reporters and insiders. I'll leave it to them to keep breaking down the minutiae of the various back and forth barrages between the owners and the players' union (the "NFLPA"). Where I think this dispute gets really interesting is breaking down what is at stake and doing a little negotiation analysis.

The NFL is a money-making machine. It just prints money. It is estimated that the NFL revenue for the 2009 season is in the ballpark of $8 billion. One estimate from the Wall Street Journal (article here) is that even if a new deal is reached with the NFLPA in time to save the season, losses from merchandising licensees and sponsorships could total as much as $1 billion (OUCH!). If the lockout continues through regular season games, the NFL stands to lose as much as $8 million per game canceled.

The real down-side here for both players and owners is that for both players and owners, the negotiation situation gets worse - especially after March 1, 2011. As the revenue pie starts shrinking, the proposals will begin to shrink as well. Additionally, owners want to take a bigger piece of the NFL revenue set aside for player salaries and use that extra cash (roughly $1 billion) to reinvest in a host of projects aimed at long-term revenue growth for the teams and, ultimately, players as well.

Pushing the owners and the "NFL" is the large amount of debt carried by the league and its teams on which they have to make interest payments on whether games are played or not. In addition, costs are always increasing, new stadiums / box seats are being built each year, coach and staff salaries, etc.

On the other side of the coin is the NFLPA representing the players interests. According to the NFLPA the average length of an NFL career is about 3.5 seasons. A lockout is devastating to an NFL prospect trying to make an NFL roster in a lockout year. There will be a whole crop of younger NFL prospects in next year's college class for teams to choose from. Striking while the iron is hot can be key, especially for the "lesser-knowns" in the league. For every Randy Moss, Tom Brady or Chris Johnson in the league there are many others who's future is much less certain.

Still, the owners, and the NFL for that matter, don't have much of a product without the players and one of the primary issues players have with shrinking salaries is the feeling that while they define the NFL product, they are being treated more or less like interchangeable parts while the owners reap huge profits. Much of the early wrangling between the NFLPA and owners has been the NFLPA asking to see the books. Basically as "show us why we shouldn't be making more money" request. 

Taking into account the added wildcards of the Supreme Court American Needle Inc. v. NFL and the NFL's hiring of Robert Batterman - the NY Lawyer who led NHL owners through the season-long lockout of 2004-05, you have all the makings for an epic and acrimonious negotiation. Once again, the NFL lives up to its reputation for being the best soap opera on TV!