Deal Cartographer

It's sad but true -- deal world is full of ambiguity. We have tools at our fingertips that we can use to navigate this unknown terrain, however.

When making a deal in a landscape of ambiguity, it's imperative to use at least two tools (deal map and compass) and one strategy (relationship building). Today we'll discuss the first tool:

The Deal Map: Be sure that you can visualize your deal. One way to create a deal map is to draw a picture of your desired destination, then fill the map in backwards as you go through negotiations. The visual landscape of your desire mixed with what is actually happening will form the landscape. When you take a look at it, you'll recognize bridges, barriers and gaps to your desired destination. With each deal you'll get better, and more effective strategies and tactics will come to mind. Eventually, you'll become a deal cartographer. If you can draw your deal, you'll fully understand it.

With a Deal Map you can navigate your way through all obstacles by turning them into opportunities, and you'll therefore find yourself where you want to be. If you don't like where you're headed, reroute. Here's an example of a simple Deal Map we created at WieseLaw.

Next week we'll discuss the second essential tool for a successful negotiation, The Compass. Stay tuned! Meantime, make sure you strategize your next deal by creating a Deal Map of your own.

Photo from webresourcesdepot.com

Filter Your Opportunities

Those of us who are lucky enough to have jobs are typically time-starved. When this occurs we aren’t reflecting on what we’re doing, and reflection is invaluable because from that comes excellence, creativity and innovation.

We believe doing less, better is the wise approach. Our ability to say “no,” has increased the quality of what we’ve said “yes” to. We need to have discipline over our time, and one good way to battle our time poverty is through creating an opportunity filter. Look at each of your opportunities carefully and make sure what you’re doing is your best option.

Here’s the opportunity filter we use at WieseLaw. Before you jump on another opportunity, be sure to adopt a filter of your own.

What are the elements of your filter?

Photo from greenfield-services.ca

Book Giveaway -- EXTENDED!

Many thanks to everyone who participated in our book giveaway! We're extending the giveaway for the following two books:

• Up North, Reflections Moments & Memories by Joe Brandmeier
• Negotiation Genius by Deepak Malhotra and Max H. Bazerman

Watch for Facebook messages and and tweets for your chance to win!

Wiese Law Book Giveaway!

We're giving away some books to five lucky winners! See the official rules below:

OFFICIAL RULES



NO PURCHASE OR PAYMENT OF ANY KIND IS NECESSARY TO ENTER OR WIN THIS BOOK GIVEAWAY.
OPEN ONLY TO LEGAL RESIDENTS OF THE 50 UNITED STATES & D.C., AGE 18 OR OLDER. VOID WHERE PROHIBITED. U.S. LAW GOVERNS THIS BOOK GIVEAWAY.



1. HOW TO ENTER: The entry period for the Wiese Law Firm Book Giveaway begins at 9:00 a.m. Central Time (CT) on October 12, 2011 and ends at 5:00 p.m. CT on October 18, 2011. To enter, during the Entry Period, follow @WieseLawFirm on Twitter and re-tweet WieseLawFirm’s contest tweet, OR “like” WieseLaw on Facebook. No purchase is necessary.



2. ELIGIBILITY: This book giveaway is open only to legal residents of the fifty United States and the District of Columbia who are 18 years of age or older as of the date of entry.

3. WINNER SELECTION: Five (5) winners will be selected in a random drawing on or about October 19, 2011 from among all eligible entries received. Odds of winning depend on the number of eligible entries received. The potential winners will be notified in the form of a private message on Twitter directed to the Twitter username used by the potential winner, or by a personal message on Facebook. If a potential winner does not respond to the notification within 48 hours, he or she may be disqualified and the prize awarded to an alternate winner. Winners are subject to verification.

4. PRIZES: Each of the five winners will win one of the following five books: Up North, Reflections Moments & Memories by Joe Brandmeier; Getting More, How to Negotiate to Achieve your Goals in the Real World, Stuart Diamond; Negotiation Genius, Deepak Malhotra and Max H. Bazerman; Getting to YES, Negotiating Agreement with Giving In, Roger Fisher and William Ury; and Leverage, How to Get it & Keep It in any Negotiation, Roger Volkema. All federal, state, local taxes on prize value, if applicable, are the responsibility of the winner. The prizes will be awarded if properly claimed. No substitution, cash redemption or transfer of the right to receive a prize is permitted. All expenses or costs associated with the acceptance or use of the prize are the responsibility of the winner. Prizes are awarded “as is” and without any warranty, except as required by law or such warranties as may be provided by a third-party manufacturer.



5. GENERAL RULES: Sponsor reserves the right to modify these Official Rules or to modify, suspend or terminate the Book Giveaway at any time in its discretion, including without limitation in the event of any changes to the Twitter Terms of Service. Sponsor is not responsible for late, lost, delayed, illegible, damaged, corrupted or incomplete entries, incorrect or inaccurate capture of, damage to, or loss of entries or entry information, or any other human or technical errors of any kind relating to the submission, collection, storage or processing of entries or the administration of the Book Giveaway. Sponsor reserves the right at its sole discretion to disqualify any individual who tampers or who Sponsor suspects may intend or attempt to tamper with the entry process. Sponsor may prohibit any potential entrant from participating in the Book Giveaway or winning a prize if, in Sponsor’s sole discretion, it determines that said entrant is attempting to undermine the legitimate operation of the Book Giveaway by cheating, hacking, deception or other unfair playing practices or intends or is attempting to annoy, abuse, threaten or harass any other entrants or any representative of Sponsor. The use of agents or automated methods or programs to enter the Book Giveaway is prohibited Sponsor reserves the right, in its sole discretion, to cancel, modify or suspend this Book Giveaway should a virus, bugs, entrant fraud or misconduct, or other causes beyond the control of the Sponsor corrupt the administration, integrity, security or proper operation of the Book Giveaway. In the event of termination of the Book Giveaway, a notice will be posted and a random drawing to award the prizes will be conducted from among all eligible entries received prior to the time of termination. Entry times will be determined using Sponsor’s computer, which will be the official clock for the Book Giveaway. All federal, state and local laws and regulations apply. By entering, each entrant releases and agrees to hold Sponsor, its parent companies, affiliates, subsidiaries, distributors and agents, and each of their directors, officers, employees and assigns, harmless from and against any and all claims and liability arising out of participation in the Book Giveaway or use of prize. Entrants assume all liability for any injury or damage caused, or claimed to be caused, by participation in this Book Giveaway or use or redemption of any prize. Acceptance of prize constitutes permission for the Sponsor and its parent companies, affiliates, subsidiaries, agents and licensees to use winner's name and/or likeness for purposes of advertising and trade without further compensation, unless prohibited by law. All entries become the sole property of Sponsor and will not be verified or returned. By participating in this promotion, entrants agree to be bound by the Official Rules and the decisions of Sponsor and the judges, which are final and binding in all respects. Sponsor is not responsible for any typographical or other error in the printing of the offer, administration of the Book Giveaway or in the announcement of the prize. In no event will more than the stated number of prizes be awarded.



6. DISPUTES: By entering the Sweepstakes, each entrant agrees that (a) any and all disputes, claims, and causes of action arising out of or connected with the Sweepstakes, or any prizes awarded, shall be resolved individually, without resort to any form of class action; and (b) any and all claims, judgments and awards shall be limited to actual out-of-pocket costs incurred, including costs associated with entering the Sweepstakes, but in no event attorneys' fees; and (c) under no circumstances will any entrant be permitted to obtain any award for, and entrant hereby waives all rights to claim punitive, special, incidental or consequential damages and any and all rights to have damages multiplied or otherwise increased and any other damages, other than for actual out-of-pocket expenses. All issues and questions concerning the construction, validity, interpretation and enforceability of these Official Rules, or the rights and obligations of the entrants and Sponsor in connection with the Book Giveaway, shall be governed by, and construed in accordance with the laws of the State of Minnesota without giving effect to any choice of law or conflict of law rules or provisions that would cause the application of the laws of any jurisdiction other than the State of New York. Any legal proceedings arising out of this Book Giveaway or relating to these Official Rules shall be instituted only in the federal or state courts located in the State of New York, and each entrant consents to jurisdiction therein with respect to any legal proceedings or disputes of whatever nature arising under or relating to these rules or the Book Giveaway.

(Photo from 100scopenotes.com)

"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.