Salvaging Collapsed Negotiations

 

 

Negotiations frequently collapse when the parties remain too far apart to reach agreement.  How can you revive negotiations without weakening your bargaining position?

1. Always break-off negotiations on a friendly note. The fact that you couldn’t reach agreement shouldn’t create a hostile relationship.
2. Leave the door open to re-open negotiations at a later time. You may agree to reconsider certain points.  The business may have had some favorable developments of possible interest to the buyer.  A buyer may conceive a new approach to the problem of interest to the seller.  Bargaining positions do change.
3. Involve your attorney or accountant. Direct negotiations may not have been successful, but your advisors negotiating directly with the seller’s advisors may find ways to break a stalemate.  This is especially important where the sale or lease of property is involved.  After all, the advisors stand to benefit too by participating at the right time.
4. Don’t stand on principle. If you have to give in on one or two small points to make the deal, then don’t let your ego stand in your way.  If the business is basically good and the deal reasonably fair, a few extra dollars is meaningless concession over the long term.
5. Above all, remember one thing. As long as no one declares they are out of the deal it is always alive so always schedule the next meeting.

 

 

Copyright 2019 BizBrokersUSA