Wednesday, October 7, 2009

Lessons in Negotiation -- Entourage Style

It has been a while since I have seen Entourage, but recently while on Facebook I found this great clip that sums up very well, although very dramatically, the lessons in negotiation.

I have experience this many times myself, in a lot of ways it's like playing poker.  You find out what you are willing to pay for the company, then figure out the weakness and focus of the opposing party.

Many times what is valuable to them may or may not be what is important to you.  Giving the perception that you're willing to trade something valuable to them for something less valuable is many ways how you get a deal done.  I'm always amazed at the points in negotiation where the seller digs in.  This may be because of a bad adviser, or an inexperienced attorney, but almost always they are points that the seller should not be worrying about.  In the end, this benefits us because we can give in on areas that really does not matter and in exchange get something that is much more valuable and beneficial for the acquiring firm.

Of course, knowing your opponents weakness helps as well.

I think this short clip just convinced me that when I settle into my new place, I'm going to both need HDTV as well as HBO.  For those who are too cheap to get HBO, you can watch it online here.

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