From the course: Negotiating with Agility
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Cultivate an agile mindset
- An agile mindset is the mark of master negotiators. It enables them to shift gears and transform possible deadlocks into successful deals. Here's an example of what I mean. Early in his career, my friend Jay worked for a private investment firm, HS Capital. They'd made a smart move buying a cable TV company in a small Midwestern city for $8 million. Some of that was their own money. The rest they borrowed. A year later, Jay and his partners decided to expand their business. They figured they could pay 11 and a half, maybe 12 million for the cable system in a neighboring town. Jay negotiated with its owner for three months but got nowhere. "Listen," the guy finally said, "you're not offering nearly enough. "If you dumped 15 million on the table in cash, "I might take it and I might not. "Anything less, you're wasting my time." Remember, Jay's maximum was $12 million, $3 million less than that. If you were in his shoes, which of these three options would you choose? Offer to split the…
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