Negotiation by Mitch Jackson


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Negotiation tips from the 2013 California Litigation Lawyer of the Year (CLAY Award), Jon Mitchell Jackson. This is the same approach I use to negotiate multi-million dollar deals. Please feel free to share if you find value in this Slideshare presentation. Also please connect with me on Twitter @MitchJackson for more negotiation and communication tips updates!

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Negotiation by Mitch Jackson

  1. 1. “Let us never negotiate out of fear. But let us never fear to negotiate.” - John F. Kennedy
  2. 2. NEGOTIATION Learn how to negotiate and close deals just like the best trial lawyers in the world. - Mitch Jackson, Esq.
  3. 3. NEGOTIATION Negotiation is a continuing problem solving process. It’s getting people with both common and conflicting interest to come together to arrange or adjust their future relationship by making a joint decision.
  4. 4. NEGOTIATION Good negotiations allow for beneficial exchanges and agreements to be made that give added value to relationships or a particular situation.
  5. 5. NEGOTIATION George Bernard Shaw once famously wrote, “The problem with communication is the illusion that it has occurred.”
  6. 6. NEGOTIATION To be an effective negotiator, you must develop and use people skills. I say this because effective negotiation involves 20% technical skills and 80% people skills.
  7. 7. NEGOTIATION Good negotiators learn how to build rapport and trust so they are able to connect with others.
  8. 8. NEGOTIATION Understand that the other person does not really care how the outcome of the negotiation affects you. The other person only cares about how it affects him or her.
  9. 9. NEGOTIATION Appreciating this critically important fact will put you light years ahead of everyone else in the negotiation process.
  10. 10. NEGOTIATION Be kind to people and hard on issues. Separate people from the problems and solutions.
  11. 11. NEGOTIATION Demeanor can get you more than substance.
  12. 12. NEGOTIATION Negotiate with integrity. Your career will depend on it.
  13. 13. NEGOTIATION Don’t burn bridges. This is especially true if there is a chance you’ll be negotiating with this same person or company again in the future.
  14. 14. NEGOTIATION Before starting, know… • Your ultimate goal • What you can waive or modify • What you can give away without any issues.
  15. 15. NEGOTIATION Before starting… •Craft a simple statement you can use to explain the goal of the negotiations. Something you can use over and over during the negotiations to refocus the players.
  16. 16. NEGOTIATION Something like, “my client is interested in buying the house and your clients are interested in selling the house. What can we do to get this deal done?”
  17. 17. NEGOTIATION Start your negotiation with a point on which you both agree.
  18. 18. NEGOTIATION Agree on… • The mutual benefit of having a successful negotiation (both want a resolution) and • Things or issues you each have in common.
  19. 19. NEGOTIATION Get involved - take your time and take notes. The other side will appreciate you taking the time to write things down (even if you really don’t need to).
  20. 20. NEGOTIATION Treat negotiations like a game. Come across as caring about the outcome, but not that much.
  21. 21. NEGOTIATION Control your emotions and appreciate what the other person is probably going through. “Emotions are important for the journey… but I don’t let them drive the car!” - Dondi Scumaci
  22. 22. NEGOTIATION Deflect, reflect and then select. Before responding, learn how to take time and let something bounce off you, reflect and think about it, and then select your response.
  23. 23. NEGOTIATION Tap into the other person’s belief system. In all negotiations there are generally three truths: your truth, the other person’s truth, and the actual truth.
  24. 24. NEGOTIATION Listen 70% of the time and talk 30% of the time.
  25. 25. NEGOTIATION Acknowledge the other person’s ego.
  26. 26. NEGOTIATION Set the proper frame. Smile and make a good first impression. Be honest and real.
  27. 27. NEGOTIATION Communicate with tact and empathy. “Tact is the ability to tell a man he has an open mind when he has a hole in his head” - Anonymous
  28. 28. NEGOTIATION Keep the other side talking. Ask open-ended questions, like “What do you mean by that?”
  29. 29. NEGOTIATION Two of the best negotiators I’ve ever seen are dogs and babies. Think about this for a moment.
  30. 30. NEGOTIATION Understand your strengths and weaknesses and also the other side’s strengths and weaknesses.
  31. 31. NEGOTIATION Perception is everything when negotiating.
  32. 32. NEGOTIATION Share you position via story telling. Remember, facts tell but stories sell.
  33. 33. NEGOTIATION Use pictures, graphics and videos to make your point.
  34. 34. NEGOTIATION Don’t fall in to the trap of the either/or dichotomy. It’s never only A or B. There’s always C, D and E.
  35. 35. NEGOTIATION Dress and groom yourself appropriately. Be on time, prepared and remember the 6 p’s: Prior preparation prevents piss poor performance!
  36. 36. NEGOTIATION Negotiate in person when possible. Over the phone is OK. In most instances, avoid negotiating by email.
  37. 37. NEGOTIATION Remember that about 70% of all communication comes from body language, expressions and eye contact.
  38. 38. NEGOTIATION On major issues, never negotiate for yourself. Use a third party.
  39. 39. NEGOTIATION Do not include person with authority directly in the negotiations. Keep option open, “I need to run that by my partner…”
  40. 40. NEGOTIATION Along the same lines, do not agree to negotiate with the other person unless he or she has full authority.
  41. 41. NEGOTIATION Never tell the other side they are wrong. Instead use this, “I know how you feel. I use to feel the same way. But then I found out about AAA and now I feel BBB.”
  42. 42. NEGOTIATION When making offers, use time sensitive deadlines and mean it.
  43. 43. NEGOTIATION Always leave a “back door” or “exit strategy” for the other person. Allow him or her to save face and avoid embarrassment (especially in front of a client).
  44. 44. NEGOTIATION When the time is right, never be afraid to close the deal. Ask for the sale or ultimate desired outcome.
  45. 45. NEGOTIATION Avoid buyer remorse. If documents are necessary, have them ready to go and don’t leave until they are signed and all terms are properly confirmed.
  46. 46. NEGOTIATION Remember, negotiation is simply a dance. Be prepared to tango, waltz or hip hop if you have to.
  47. 47. NEGOTIATION Contact info: Law firm: Jacksonandwilson.Com Communication tips: Mitchjackson.Com Twitter: @mitchjackson