Good Negotiating Is Counterintutive

Folio: The Magazine for Magazine Management, August, 2000

Three years ago, Wilma Jordan, CEO and president of The Jordan Edmiston Group, was representing an entrepreneur who wanted to sell his company to a large corporate buyer. However, her client was so brash that he kept turning off the buyer with curt comments. Some 15 phone calls went by with Jordan always trying to "stay connected." Finally, she called the buyer and said, "If you give me this one point, I'll make sure you never have to talk to the seller again." Everybody laughed and the buyer gave her half the point.

Your instinct, says Jordan, is to back away from antagonistic situations. But, she says, "If you stay connected, you'll push through the tense moments and get to where you want to go, maybe even get a laugh." This is an example of good negotiating being counter-intuitive, says Jordan, who has conducted over 50 transactions worth more than $1 billion over the last two years. Here are some others: (1) Aim for victory. "I win, you lose, may get you a win sometimes, but not often," she says. "What you want is a win-win." (2) Bargain hard. Not always, says Jordan. "Think more about problem-solving--because that, ultimately, will help both sides get the deal done." (3) Focus on your position. "Everyone is a little self-centered, But look at the other side's interests. Help them achieve their goals, and the chances of success are higher." (4) Create pressure. "Sometimes that works," says Jordan, "but usually it's better to create an environment where agreement can happen and you can complete the transaction."