Negotiation in a Business Sale and Beautiful Mind
Negotiation in a Business Sale and a “Beautiful Mind”
All too often in business sales when negotiating a deal a seller or buyer and or their representatives look to defeat the opponent and “win”. Statistically speaking when reviewing outcomes of deals the reality is that when this approach is taken one simply does not win in the long term.
Several years ago, there was a wonderful film called “A Beautiful Mind” starring Russell Crowe. The film chronicled the life of American Mathematician John Nash. Nash suffered from severe paranoid schizophrenia but pioneered the game-changing thought in “game theory” and differential geometry.
If the sale of a business is anything it is a game. I would challenge all of us as principals and as consultants and intermediaries to rethink our theory regarding negotiation. The following video largely demonstrates both the traditional mental model regarding negotiation and Nash’s innovative approach to thinking and outcomes. Small business owners would be wise to at the very least look at the best outcome as related to the negotiation process.
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great movie great post
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