Built to Sell Radio
Ep 439 Selling Your Business? Why Nice Gets You More - with William Ury, Co-Founder of the Harvard Negotiation Program
Apr 26, 2024
William Ury, co-founder of the Harvard Negotiation Program, shares strategies for successful negotiations when selling your business. He discusses understanding buyer motivations, expanding the negotiation pie, crafting a compelling victory speech, leveraging emotional dynamics, and embracing entrepreneurial vision.
40:25
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Quick takeaways
- Expanding the pie in negotiations by aligning interests improves outcomes.
- Using agents or intermediaries in emotionally charged negotiations can be advantageous.
Deep dives
Negotiation is not just about claiming value, but also about understanding interests and concerns
In negotiation, it's crucial to consider interests beyond just claiming value. When selling a company, focusing solely on claiming more value for yourself may lead to a win-lose mindset. However, understanding the future relationship with the buyer, the treatment of your company, and your post-sale aspirations can impact the negotiation positively. While dividing the pie (value) is important, expanding the pie by aligning interests for both parties enhances the negotiation outcome.
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