When approaching negotiation for an acquisition, it’s essential to establish the right mindset from the start. You should strike a balance between negotiating firmly on the one hand and protecting your relationship with the acquisition prospect on the other.
Any potential deal suffers tremendously when the parties become combative. You can be a tough negotiator and hold the line while protecting your relationship with the acquisition prospect. This is particularly important if you are going to continue to work with the seller after the deal is closed.
Civility, good humor, and the willingness to listen to the other party’s concerns go a long way to protecting the relationship that you have spent months cultivating.
This does not mean you should acquiesce to everything the prospect wants. You haven’t come all this way simply to invite her to fill out a blank acquisition agreement.
The key to successful acquisition is knowing when and when not to fight. You will probably have items that are nonnegotiable. You want to save your battles for these items.
*This post was adapted from David Braun’s Successful Acquisition, available at Amazon.com
