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    3. How to Create Win Win Business Deals»

    How to Create Win Win Business Deals

    Anthony Cerminaro
    Finance

    Negotiating business deals has little to do with bargaining, compromise and competition. Effective negotiaion is not a mental and verbal sparring session, where the side with the sharpest mind, toughest resolve and most aggressive tactics emerges as the victor. Taking such an approach invariably leads to win-lose or, worse, lose-lose outcomes. Effective deal makers approach negotiations as a mutual problem-solving process.

    The foregoing are just a few of the gems gleaned from this TEC® Best Practices article on creating win-win business deals. The authors conclude that to create win-win outcomes, both sides to a negotiation must::

    "Strive to understand the other person's wants and needs Attempt to solve the other person's problems as well as their own Adopt a mindset of flexibility rather than rigidity Focus on "enlarging the pie" rather than dividing it up Always aim for win-win outcomes

    This approach may sound "soft" to those who enjoy going toe-to-toe with the other side during a negotiation. However, our experts emphatically agree that following these principles will dramatically increase your chances of creating deals that benefit both sides and lead to positive long-term relationships."

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    Profile: Anthony Cerminaro

    Anthony Cerminaro is a business, transactions, and technology attorney with a unique blend of in-house and law firm experience, having spent the first nine years of his career in the law department of PPG Industries, Inc.

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