There is a single orange sitting on a kitchen table and two sisters want it. What is the solution to appease both sisters? You can split the orange in half and give one half to each sister. The older sister can receive the whole orange. Flip a coin, and the winning sister will receive the whole orange. Let’s say you split the orange in half to be fair to both sisters. Now, each sister has half of an orange. The younger sister proceeds to eat her half, but still feels hungry afterward. She throws the peel in the garbage. The older sister uses her half to zest the peel and make an orange cake ..read more

“Communication is key in negotiation” and “negotiation is an exercise in communication” – phrases you’ve probably heard so many times that they’ve become meaningless. What if instead, we said that negotiation is about communication and persuasion. That’s what the research of Dr. Robert Cialdini, an expert in the field of influence and persuasion through evidence-based research, has revealed. According to Cialdini, negotiation is about persuasion and how one can present their ideas to others through effective communication in a way that moves them. By using Cialdini’s six principles of persuasi ..read more

Imagine you want to sell life insurance to a client. As part of your pitch, you might say, “Don’t you want to make sure your loved ones are left with some financial peace of mind?” The client will probably answer, “Yes, of course.” With this response, the client is probably thinking that they know they need to put life insurance on their radar, but still aren’t ready to focus on it. Now, what if you said this instead: “Is it a good idea to leave your loved ones with zero financial security if anything were to happen to you?” Suddenly, the client is horrified and responds with, “No, of course n ..read more

Have you ever had a conversation with someone, and while they’re talking you say, “I see,” “Hmm,” or even “Interesting”… but when they’re finished, you ignore everything they said and go in with your pre-planned response? That’s called passive listening. The fact is, most people aren’t listening to understand – just to respond. You may think you’re showing that you’re engaged, but you won’t fool anyone for long. That’s where active listening comes in. In negotiations, active listening can be used as a powerful tool to gather information. This requires an active mind, a degree of empathy, and l ..read more

Delivering bad news may not top anyone’s favorite-things list, but did you know it can be used as a weapon in a negotiation? Whether you use it to gauge a reaction, make a counteroffer, or set the stage for other news that you may have, delivering bad news is an art. Keep reading as I talk about three ways to deliver bad news and how to wield these methods in a negotiation. 1. Using the Sandwich Technique Step 1: Start with a genuine compliment or positive statement Step 2: Be specific and state the meat of the matter using words Step 3: Suggest a way to move forward or your proposed solution ..read more

Negotiating in the Time of COVID As a business lawyer, I’m used to receiving frantic calls at all hours about any number of business issues, from the mundane to the bizarre. But over the past eight weeks, as PPP has run out and many business owners and CEOs are facing seemingly insurmountable challenges, these calls have overwhelmingly focused on one topic: business divorce. Due to the prolonged economic disruption of COVID-19, the reality is that many business partnerships will disband. Whether you’re buying out a partner, want to sell your interest, or close up shop and move on, the goal is ..read more

Originally published by Express News Group When I let go of what I am, I become what I might be. — Lao Tzu Leaders aren’t born — they are made by the times they exist in and how they rise to the occasion. Let me back up. The richness of Long Island lies not only in its real estate and school districts but also in its innovative businesses, restaurants and hospitality. Small businesses are the backbone of our economy and must survive. Like many of you, I have spent my entire career helping to build Long Island — and, also like you, I am not willing to sit back and watch these bu ..read more

Clammy handshakes, a scratched mahogany table with papers strewn about, laptops fighting for space with half empty cups of coffee, and that awful fluorescent lighting above – sounds pretty great right about now, doesn’t it? In this unprecedented time of social distancing due to the coronavirus pandemic, negotiations are still happening every day (and they must, for our economy to recover) – they just look different. Critical tools in the negotiator’s toolbox involving nonverbal cues, such as body language and emotional expression, take a back seat during negotiations that take place by phone ..read more

You’ve just left the negotiation table, and you know it went well – it’s in the bag! Except it’s not, and later it turns out that the deal is dead. Confidence is a critical quality in strong negotiators, but too much can cloud your judgment. Consider the steps below to rein it in and ensure your confidence is an asset, not a liability. Embrace the unknown. Sure, you’re a great negotiator, you did your research, and you’re feeling completely prepared for your negotiation. This may be true, but try thinking objectively – a smart negotiator accepts that uncertainty will always be a fundamental pa ..read more

Ever negotiate a deal and happily put it to bed, only to have to revisit it months or years later? Every negotiator has ended up with an agreement that no longer suits their needs, or their adversary’s, and must go back to the table to turn the lopsided deal right again. But the dynamics of renegotiation aren’t the same as negotiating for the first time, and renegotiating what you thought was a done deal comes with its own set of pressures. Read on for tips on renegotiating effectively. Identify the key issues: Are you the party initiating the renegotiation? Before approaching the other parti ..read more