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Both sides of an M&A deal do not generally agree on one fixed price. This is why it is important to know some techniques for negotiating, so that you can get the price that you want without having to walk away from a deal due to disagreement.
Know Your Opponent
Become familiar with the person with whom you are making a deal. Understand what is driving them, and then tailor your methods to be their best fit. Do research before beginning the negotiation.
Do homework on your side of the debate as well. The most powerful tool in negotiating is knowledge.
Although no one wants to pay more or receive less than necessary, sometimes flexibility is the key to negotiating an M&A deal. Try to find the best deal for both parties. You can find creative ways to make it a win-win situation. The cash isn’t everything.
Be sure to put yourself in the other person’s shoes. No one wants to haggle with someone stubborn.
That being said, do not allow the other person to walk all over you. They will only respect you if you are confident in the reasons that you have chosen said price. If you act sure of yourself, the other person will begin to believe your claims.
For a no cost - no obligation free consultation, contact George & Company, the region's premier business brokerage firm.