The Point of the Deal

How to Negotiate When Yes Is Not Enough

By: Danny Ertel, Mark Gordon

Narrated by: Erik Synnestvedt

Why do so many deals that look good on paper end up in tatters? Deal makers often treat the handshake or signed contract - getting to "yes" - as the final destination in their bargaining journey rather than the start of a cooperative venture.

Even worse, most companies reward negotiators on the basis of the number and size of the deals they're signing, giving them no incentive to negotiate deals that actually work.

In The Point of the Deal, Danny Ertel and Mark Gordon explain how to transition from a deal-maker mentality (focusing on making the agreement) to an implementation mind-set (ensuring the deal generates value for your company after the ink on the contract has dried). The authors show you how to:

Treat the deal as a means, not an end, by asking what you need from your counterpart over and above a "yes".

Consult stakeholders, determining whom you'll need to get to "yes" and beyond

Set precedents that will help guide joint behavior after you've signed the deal

Air your concerns - in ways that still get you to "yes" and beyond

Help your counterparts avoid overcommitting - maximizing the likelihood they'll be able to deliver on their part of the bargain

Run past the finish line - by articulating how you'll get from "yes" to your final destination

With a wealth of examples from multiple industries, countries, and functions, the authors illustrate how their approach to instilling an implementation mind-set works in all kinds of familiar contexts for business deals - including mergers and acquisitions, joint ventures, alliances, outsourcing arrangements, and customer and supplier relationships.

The Point of the Deal not only offers crucial advice for individual negotiators and teams, it also enables managers to treat negotiation as a critical business process that drives real value for their organizations.

©2007 Vantage Partners, LLC (P)2008 Gildan Media Corp

must read book

This is a great book and in fact an eye opener for many people engaged in day to day and/or strategic negotiations.

Most often people forget the point of the deal and the objective behind the whole negotiation and just get down to somehow getting their points pressed through. This initial victory often leads to a disaster at the end.