Negotiating Tactics
Negotiation Tactic #35 – Establishing a Fair Starting Point
Summary: Encouraging any partner interested in buying out another partner’s interest to make a fair and reasonable offer.
Example
Two business partners enter a buy-sell agreement that Establishes a Fair Starting Point in case either partner wants to buy the other partner out in the future. They make the following agreement: If Partner A wants to buy out Partner B, Partner A will make an offer that he considers fair and acceptable. B is then given a choice. She can accept A’s offer, or reverse the offer and buy out A under the same terms. This system of Establishing a Fair Starting Point encourages any partner interested in buying out another partner’s interest to make a fair and reasonable offer.
Counter
This is a difficult tactic to counter because both parties agree to the fair starting point before the tactic is ever utilized. If the situation has changed since the start of the negotiaiton, such as the business has doubled since the Fair Starting Point was established, the best tactic to counter with would be Facts and Statistics.
Have you used or encountered this tactic in your negotiations? If so, how’d it go?
Related posts
Negotiating Tactics, Negotiation
Negotiating Bonus Tips
Ten Steps to Create a Win-Win with Customers Last week, I found myself one of the last two people at the airport baggage turnstile. The turnstile was going around and around but, unfortunately, my luggage…
Friendship, Negotiating Tactics, Negotiation, The Master Negotiator
3 Keys to Achieving a Win-Win Outcome
Have you ever walked away from a negotiation thinking, “I will never do business with this person again!” If so, you probably felt like you lost big time. Although great negotiators drive a hard bargain,…
Negotiating Tactics
Negotiation Tactic #103 – Let’s
Summary: Using the word let’s to imply that you are both on the same team and that you are working for the mutual benefit of your counterpart. Example Let’s is a powerful word when it…
Negotiating Tactics
Negotiation Tactic #102 – Giving Up a Future Round Draft Choice
Summary: Conceding a deal point in the future to get what you want in the current negotiation. Example Recently, we had a family discussion about where to go out for dinner. I wanted to go…
Negotiating Tactics
Negotiation Tactic #101 – Switching Tactics
Summary: Changing gears and going with a different tactic when the previous negotiation strategy has not been working. When one tactic is not working, the worst thing you can do is turn up the volume…
Helpful Leadership Products
Leave a reply