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New Acquisition

New Acquisition

You are the Vice President of a private investment firm.
Recently you acquired a software company for $5 Million and were able to turnaround within one year. Now you want to acquire another software company. You meet the owner and he too is interested to sell.
During next couple of weeks, you make him a offer, however the seller says it is too low. His asking price is $15 Million, which in your opinion is too high.
How do you plan to make a deal?
Photo adaptation/Flickr/foxypar4
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Negotiation is an important life skill

We negotiate most of our waking hours. We negotiate with our team members, colleagues, bosses and vendors at work, with our kids, spouse and parents at home. We negotiate during buying or selling of an asset e.g. house, car and also conflict resolution and during salary negotiations. Negotiation is an important life skill and it contributes to our success.

If we do not negotiate well or don’t negotiate at all then there is a big chance that we are going to leave money on the table, which could have been ours. We often don’t negotiate because we feel it is inappropriate or feel uncomfortable and fear it.

“You don't get what you deserve. You get what you negotiate.” Chester Karrass