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Starting a Business Mini-Series: How to Negotiate

by | Jul 10, 2020 | Business, Contracts, Law, Negotiating, Startups

Be sure to review the previous Mini-Series installments here:

1. How to Choose a Business Entity

2. Can a 50/50 Partnership Work?

3. How to Make a Contract

4. How to Fund Your Startup

Nearly every business interaction involves some form of negotiation. Any time you discuss the exchange of a product, service, money, or other tangible element for something of value with another party, you are entering a negotiation. You should always go into these conversations prepared with as much information as possible so you can advocate for your best interests, offer convincing perspective to the opposing party, and make informed decisions as the conversation evolves, with the goal of reaching a favorable consensus.

If you view a negotiation as the unnecessary initiation of conflict, try to pivot your attitude. Rather than being intimidated at the thought of asserting yourself, try viewing a negotiation as an opportunity to strategically secure a success for your business. This will help you shift your perspective from fearing the discussion as a personal threat, to feeling motivated and confident to achieve a win for your business.

Use this helpful chart to make your next negotiation a little less stressful, and much more successful:

How to Negotiate Steps Chart Tarshus Law Firm

Are you ready to negotiate your business deal but not sure how to draft it into a legally binding agreement? A seasoned business attorney can help you put your preferred terms in writing. Have you already received a written agreement from another party and have concerns about the risks involved in signing it as written? Ask a lawyer to do a quick review. Some business attorneys offer reasonable hourly fees and quick turnarounds for this service.

Tarshus Law Firm How to Negotiate

Andrea A. Tarshus, Esq. founded Tarshus Law Firm in 2015 to provide efficient, accessible, and fair General Counsel legal services to businesses and business owners. Tarshus Law Firm represents Western New York and Buffalo based businesses as well as large international and publicly traded corporations in industries such as: audio video (“AV”), products distribution, transportation and logistics, medical marijuana, marketing, social media, healthcare, and other sectors.

Andrea’s engagement with businesses regularly includes business formation, negotiating and executing favorable contracts, legal research and writing, project management, administering internal legal and operational controls, problem-solving, and strategizing. She enjoys working with business owners, C-suite executives, and company managers to create a comprehensive legal and business framework that supports operational efficiencies and strategies for growth.

This article is intended to be informational in nature, should not be relied upon by the reader without consultation with an attorney, and does not create an attorney-client relationship between the author and reader.

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