The Entrepreneur's Solution: The Modern Millionaire's Path to More Profit, Fans & Freedom by Mel H. Abraham

Author:Mel H. Abraham [Abraham, Mel H.]
Language: eng
Format: epub
ISBN: 9781630473310
Publisher: Morgan James Publishing
Published: 2015-02-24T00:00:00+00:00

Every Interaction Is a Negotiation

Every conversation is strategic in the sense that everyone involved wants someone else to see their point of view. In some relationships, even how to park the car or clean the dishes can become an ongoing negotiation. Use the Five Rules of Resolution to ensure clear communication and effective negotiations in any situation.

Here’s an example: Three partners came to me several years after forming a successful electrical contracting company. The one who ran internal operations and the one who built relationships and brought in contracts believed that the third guy, on the ground overseeing the job sites, didn’t shoulder as much responsibility and, therefore, didn’t have as much value, so they wanted him out. This crew rushed into the business with a “we’ll see” approach. They didn’t check whether their ideals and intentions were aligned from the start. They didn’t even clearly define each partner’s functions or percentage values in their initial contractual agreement. Instead, they triangulated over covert resentments and waited until the company was about to implode before calling me to negotiate a buyout. The problem was, since nothing was in writing, the third partner’s “value” amounted to the perception of value. Of course, each partner perceived a different value. I was able to dissipate the tension and resolve the ugly situation, arriving at a value everyone was happy with. I did it using the negotiating skills you will learn in this chapter.

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