Getting away from détente. Possibly you read my blog about Soviet Negotiating; nyet, no, walk away, say nothing. As noted on an adjunct video on the NCC website this style is not fun but it works in certain situations. You may think that the Soviet style is entrenched in non-communication, but it is all about communication.
In all deals signs are given; suggestions, ranges, needs, desires, ratios, values, terms all of which are blatantly stated, suggested or inferred. You need to listen.
The Chinese Menu Negotiation – Either the buyer or the seller can instigate the Chinese Menu. Simply stated you are providing at least three choices. Each menu item wraps up all of those signs into a separate and distinct deal each with at least three courses: the appetizer, entree and desert. In deal making usually terms, price and the toss-out. If you are the buyer and are presenting to the seller you have be able to live with any of the three seller selections.
Most people think is easy, OK three choices, they will make a selection and then we will negotiate that selection. Well I had hot and spicy pork last night, and there were not three choices. What we really show in our Chinese Menu of three items, each with three courses that there are really nine items each of which is unique or in the least somewhat different. What you will notice at your local Chinese Best #2 is in the $8.50 to $9.25 range there are dozens of choices, many palatable.
No one ever makes a final selection from one of only three items. The goal is the range not the three choices; the goal is to open up the decision-making and negotiation process. If you cannot find the range there will be no deal.
Bi-lateral negotiations, or The Chinese Menu, are entrenched at keeping everyone at the table deciding if they want MuShu Pork, Princess Chicken or B17 – bingo. And then someone decides to… I am not even going to go there.
Later Tom -
Meet me at the Parallels Summit in Miami February 22-24
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About Tom Millitzer
I am an M&A guy. I sell Hosting Companies. I want you to fulfill your dreams. If you are building your company or exiting for success...I want help you grow rich.
I started NCC International in 1994, we represented our first hosting company in 1997. NCC has completed over 400 assignments. If you are considering buying or selling you need to know me. I do not bite.
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