news

How to make the best out of your negotiation

It all depends on you.


We’ve all taken part in a negotiation at some time in our lives.

Whether you were introduced to the process as a child or an adult,

it’s my job to help you learn how to make the best deal you can.


Prepare for the negotiation

Sometimes a negotiation can fail before iteven begins.

Every deal involves many moving parts, all coming together in a high-pressure situation.  

  • Does the person you’re negotiating withhave the power to make a final decision?
  • Do they understand your process, and whatyou need to come to an accommodation?  
  • Do you know what they need from you?  

It’s best to have everything organizedbefore you even sit down to the table.

People have taken time out of their busyday to get together to discuss this deal.

Seize the opportunity! 

Follow these five steps to get the best results.

1.        Get your documentation together

The first step is to sign a good NDA(non-disclosure agreement) before you exchange relevant documentation such asstandard agreements, patents, trademark registrations, or information about thecompany structure.

Product-related information like production costs,packaging, and transportation should also be covered.  

Work with your in-house and externallawyers to be prepared. Preparation is key.

The information you need should beat the table or easy to gather during the negotiation. 


2.         Speakto your mediator (if you have one)

If you don’t have a mediator, considerhiring one. Emotions can run high during a negotiation.

A mediator isprofessional who can argue your side without getting caught up in theirfeelings.  

If you have the advantage of mandating amediator, make sure you understand how he or she works so that you areprepared.

Schedule a preparatory conference call so that you’re on the samepage before talks begin.  


3.         Knowyour numbers and prepare all your bidding steps

Numbers are the heart of any negotiation.You need to know your exact bidding steps – not just the first bid and bottomline.

Many companies make the mistake of not thinking this through beforehand.

Once you’re at the table you won’t have time to work on your strategy.  


4.         Getthe right people to the table

The right people with the right personalitywill ensure the negotiation process goes as smoothly as possible.

You want tohave business enablers at the table, not people who are focused on risks thatwill never materialize. 


5.         Haveyour boss or superior on speed-dial

This is an important one if you’re tryingto be safe. Depending on the authority you have, you need to make sure yourboss is available to back up your decisions if necessary.

You might need moreflexibility than you originally thought.

Try to be open-minded, as you’llreceive fresh information during the negotiation that might require a re-thinkof your plans.  

Delving into the negotiation process 

I’m lucky in that I take to it like a duckto water. I love my job!

I can’t wait to sit down to a big bundle ofdocumentation and untangle all the ins and outs of this specific deal.

A toughday of negotiation, combing through and thoroughly understanding all the highlycomplex aspects of the case, testing my listening skills with unfamiliar Austrianand Swiss German dialects, leaves me exhausted but smiling from ear to ear.

Thesignature on the contract is like a cherry on top of a delicious sundae.  

Mediators have first-hand industryknowledge and understand how different players work together.

I’ve learned fromthe best professionals in the field and consider it a challenge and a blessing. 


The personal touch

It was clear to me, talking to theinnovator in this particular negotiation, how passionate he was about hisbusiness.

When he talked about his product his eyes simply glowed withenthusiasm.  

Some of you who have worked with me knowthat I have an affinity for informal single sessions.

I like to speak withpeople when they sip their tea outside the conference room.

Sharing food anddrink together can help develop a fellow-feeling between the parties in anegotiation.

We celebrated the successful conclusion of this meeting with anincredible Swiss fondue dinner.  

What do you do to commemorate the occasionwhen you close a deal?

I’d love to hear your thoughts on the negotiationprocess!


Follow me   ->here<-   and subscribe  ->here <- for the latest insights

on how you can keep winning! 


Legally yours, 

Miryan Weichselbaum-Gharibo

Managing Partner, Let's Agree

How to WIN OVER your counterpart in anegotiation!

The other day I was sitting in anegotiation...

I could see one of the parties’ growing frustration as they werenot able to convince the other party on a pretty valid point. Let me tell youwhat they did wrong. 

When preparing for a negotiation everybodyspends a large amount of time rehearsing their storyline.

So what exactly werethey doing while the other party was speaking?

They were rehearsing theirarguments in their heads and NOT listening. I could see the main principledrawing the Eiffel tower when the other party was talking. 

How can you win them over? 

Let them tell their story when THEY want toand listen to them. Refrain from speaking out first - even if you are aclaimant in a dispute. If you do not give them the floor and listen to themthey will not have the ability to listen to you properly and understand yourargument. 

Your counterpart is sitting on valuableinformation that you need and that’s why you are speaking to them in the firstplace. 

Let them spill the beans first and theywill open up their minds. 

Agree?


news

Why getting a NO initially may get you thebest deal.  

The other day I got a NO from a top-notchclient, which was followed by a yes because:

I presented our offer in a way that madeour counterpart comfortable to reject it.  

Generally speaking, if your clients feelforced to accept your offer and are embarrassed to say no, you will most likelynot get the deal.

Giving them room to say no will put them at ease. This mightsound contradictory but people are more willing to work with you if they feelfree to say no and are not pressured.

No means self-preservation and yes meanscommitment. Clearly, we are all scared of commitment.  

If you are still pleasant to talk to, evenafter receiving a no, your counterparties’ mind will switch into a positive,creative mode and they will WANT to find a way to work with you. 

Let it go and it will come back to you. 

When was the last time you pitched, wererejected and then got the deal?

#howtogetadeal #letsagree #dealmaking


news

"Mediation - Die Kunst, Konflikte zu lösen"


Verhandlung in der Sackgasse?

Krise mit dem Geschäftspartner?

Mediation kann die Lösung herbeiführen.


Die Wiener Wirtschaftsmediatorin

Mag. Miryan Weichselbaum-Gharibo, LL.M.,

ist Expertin für komplexe und internationale Streitfälle. 


Streitfälle kosten Zeit und Geld.

Wenn Konflikte tief sitzen, kann "Let's agree" - eine anerkannte Clearingstelle für

internationale Unternehmen und Organisationen – helfen, eine Lösung zu finden.
Miryan Weichselbaum-Gharibo ist eine der führenden internationalen

Wirtschaftsmediatorinnen in Wien.

Sie hat Jus undWirtschaft studiert,

10 Jahre in Unternehmen gearbeitet und eine psychologisch basierte Ausbildung gemacht,

um Wirtschaftsmediatorin zu werden.


Welche Themen werden besonders oft besprochen? 

Häufige Konfliktherde sind gegenseitige Schuldzuweisungen – wer hat etwas falsch gemacht.

Sitzt die Vorstandsebene eines Unternehmens bei mir am Tisch, hat sich der Streit meist schon über Monate oder Jahre der Frustration tief verfestigt.


Was war Ihr bislang schwierigster Fall?

Ein schwieriger Fall war zwischen einem osteuropäischen Oligarchen und einer mitteleuropäischen Versicherung.

Zwei Machthäuser, die ungern nachgeben und gut und gerne taktieren.

Unvermutet hat dann der Repräsentant des Oligarchen die Verhandlung verlassen. Die Versicherungsleute waren entrüstet.

Ich musste immer wieder anrufen und Einzelgespräche führen.

Letztendlich haben wir dann doch eine Lösung gefunden.

Man weiß eigentlich nie, was einem am Tag einer Wirtschaftsmediation erwartet.

Bei grenzüberschreitenden Konflikten haben zudem auch die unterschiedlichen Kulturen Auswirkungen auf das individuelle Konfliktverhalten.

Durch meinen Hintergrund als Kind dritter Kultur –

meine Eltern sind eine christliche Minderheit aus dem Orient und ich bin in Wien geboren –

kann ich mich relativ schnell auf neue Situationen und Kulturen einstellen.

Ich sehe kein „richtig“ und „falsch“, sondern versuche meine Klienten im jeweiligen kulturellen Umfeld und geprägt von ihren landestypischen Geschäftsbräuchen zu sehen.


Wie hoch ist Ihre durchschnittliche Erfolgsquote?

Die Erfolgsquote liegt bei 80 Prozent."


Erschienen am 23.03.2019 in der Krone

Wirtschaft Standort Wien S. 25.