Dallas mediator John DeGroote recently spoke with business publication American Express OPEN Forum for a news story offering advice for business owners detailing strategies for responding to brinksmanship in negotiations.In an interview with OPEN Forum’s Mark Henricks, DeGroote recommends getting creative when confronted by brinksmanship. A seller could ask the buyer to accept a shorter warranty, do a cooperative business advertising effort, join in a new product launch, supply marketing research or pay off accounts receivable sooner. Once you know what is driving the brinksman, DeGroote says, you may be able to make a deal that could ultimately be better than the original.
However, before asking what the other side wants, DeGroote advises carefully examining your own wants and needs.
Read the full article on American Express OPEN Forum.