Episode 10: Key Steps to Maintain Healthy Negotiations, with Corey Kupfer

My name is Corey Kupfer and I’ve been doing deals and negotiating professionally for more than 30 years, both as a successful entrepreneur and as an attorney. My goal is to help you strategize, plan for, find, and complete deals that will help your company grow faster. This is called “inorganic growth”, and it differs from the traditional slower, organic growth you’re probably familiar with. In this episode, we will be reviewing some of the deals I myself have been involved in, and the prevailing themes of patience, pacing, asking questions, dealing with blanket statements, and maintaining relationships. What You Will Learn: I discuss the importance of patience and why it is a valuable tool in any deal. I share how I’ve worked to have my clients take a step back sometimes to improve the clarity of the deal and to allow time to gather information and align the parties on the context of the deal. I share why it is important to allow a deal to proceed at its own pace and momentum, without trying to artificially speed up or slow down the process. This allows the deal to unfold in a natural way and allows you to maintain your advantages in the negotiating process. Learn why you should be asking questions and seeking clarification throughout the process, so that you can be clear in your expectations and understand the deal fully, avoiding any potential unexpected pitfalls. I share an example of how the words “that’s the way we’ve always done it” or “no one has ever asked that before” can shut down a negotiation or at least bring things to a halt. I discuss how to push back against these statements and work around communication issues. Learn why managing emotional states and keeping a cool head are important to the successful completion of a deal. I also discuss why it is important to maintain a healthy relationship with your deal partners. Resources: Website: www.fuelingdeals.com