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The
Art of the Deal
in Turbulent Times:
An E-Chat with
Mary Greenwood, JD, LLM,
ADR Author www.marygreenwood.com
by
Fey Ugokwe, J.D., Founder/Editor-in-Chief
Q:
Now is the night of all financial
dreams, it would seem—at least,
reportedly, for a spell. Sales are sagging, inventories are standing
still in
stock, petrol prices are at a breath-binding zenith high, and consumer
confidence is at an all-time free-spiralling low.
There are some, however, who still have
sufficient
discretionary income to, post An
Inconvenient Truth, purchase
what could be aptly termed
‘contemporary conscience’
items--like energy-conscious hybrid vehicles and eco-friendly homes.
You
literally wrote the book on Negotiation--what are your tips and tricks
for
negotiating the best deal for such high ticket, high-minded purchases
in this
juxtaposed era of environmental urgency and erasing economy?
A: The
buyer has a real advantage in these
economic times, so be creative in asking for concessions and
you will get
an even better deal. If you are buying a hybrid vehicle, my advice
would be the
same as buying any vehicle:
1. Do your research before you go to
the showroom--you should check local newspaper ads or a website so you
know the prices. You
should also know in advance the specials, rebates, or
bonuses available from the dealer;
2. Always bring a friend to the
dealership and give him/her a role in advance. It can feel as though
the dealer
and the finance people are ganging up against you so it is nice to have
someone
you trust with you. I brought my son and daughter-in-law, whose role
was to
say, "let's go home and think it over";
3. My strategy was [also] to
have a certain dollar amount over which I would not go;
4. Always ask for one
more thing--is there an accessory you want that would make the deal
more attractive?;
5. Don't say ‘yes’ right away--even if
they have given you a final offer, shave
something off the price and ask them to take it back. You will probably
get it
because they don't want to lose a sale over something trivial;
6. Shop at the
end of the month--usually the dealers want to get rid of inventory, and
are
even more willing to make a better deal.
Q:
What is the most egregious error that
lay female bargainers typically
commit, in your opinion, when attempting to negotiate the capture of
such key
items like houses and cars---especially when dealing across the desk
from male
sellers—and how should they avidly avoid such missteps?
A: There are stereotypes that women cannot
negotiate as well as men--that
women are not as aggressive, take things too personally, or are too
emotional. I
believe we [heard] some of [these stereotypes] when Hillary Clinton was
debating. I don't believe these stereotypes are true.
Since [a woman]
may be subject to a higher standard, she has to play [the] part and
look the
part. Being a good negotiator is like being a good actor:
1.Never
Let Them See You Sweat--it is important to check your emotions at the
door before trying to negotiate anything. Emotions can make one lose
control...[e.g.] nervous, upset, or unsure...[a woman] needs to focus
on what she hopes to accomplish, and tell herself that nothing is going
to stand in the the way of her goal;
2. Be Prepared--if [women] feel they
are not taken seriously, [they] have to work extra hard [and]
do their
research. If not completely prepared, consider delaying the start of
the
negotiation;
3. Look the Part—a
woman should set the tone of the
negotiation the moment she walks into the room. She must give
good eye
contact and be a good listener. She must dress professionally and not
have
anything distracting like chunky jewellery or a quirky hairdo.
In the
debates, Hillary [Clinton]’s
and Sarah [Palin]’s suits and hairdos were often of
interest.
Q:
Now,
Texas-Hold-‘Em—most
business owners duly attempt to sport the proverbial poker face when
negotiating their various n’ sundry deals…but such is decidedly harder
to do
when sales are sluggish and thereby, everything seems to be resting
heavily, clumsily
on the bottom line. What
are your words
of wisdom for wheelers n’ dealers who still have to wade forth into
gnarly
negotiations during these turbulent economic times?
A:
My philosophy is
that anything can be negotiated. During these turbulent economic times,
the
hardest thing may be to close the deal. One has to play all the angles
and ask:
1. Does the other side want something
other than money? Maybe one party wants
the deal closed very fast, and will
accept payments over a longer period of time rather than a lump sum
payment;
2.
How can I sweeten the deal? Try to find out what the other side
needs--this is
where your research can pay off;
3. How can I be flexible? If you want
the deal
closed, you will need to be flexible--[however], you have to protect
yourself at
the same time;
4. What is my Plan B? If your first
suggestion does not work, keep
coming back with alternatives and suggestions--maybe one will be
appealing, and
be the one thing that seals the deal.
Q:
Switching psych gears here a little,
fellow attorney--who or what
prompted you to make your profession that of Alternative Dispute
Resolution? Did the
decision indeed occur whilst you were
in law school, well subsequent to its matriculating commencement, or in
your
child-teen-or-twentyhood?
A:
I think it goes back
to my childhood. I was known as the peace-maker in the family. When
they were
teenagers, my mother bought coats for [my sisters] one
Christmas, that
were custom-fitted. The problem was that both
sisters wanted the same
coat. I found it amusing because both girls had the same
build, height,
and weight--and the coats looked the same to me. I mediated
with them in
caucus and joint sessions for hours, trying to get them to take
[their] assigned coat. It did put me on the ADR
path--and I am
still thinking of new arguments I could have used.
Q:
You
have been profoundly prolific in such a
short shrift of time, penning treatises on Employment Law, Negotiation,
and
Mediation. When did
you birth your first
book, and what was the quality of your process for getting it written,
published,
and marketed—did it feel like labour or leisure?
A:
I wrote [my first book] when I was a
Law Professor, in 1987. I
was paid a set amount to write it and was not involved in any of the
marketing
after it was published. In many ways, it did not feel like my book, and
it felt more like labor than leisure. My second book,
[published in] 2006,
was definitely a labor of
love. The
idea was that the rules I had learned as a result of being
a union
negotiator would apply to everyday disputes and conflicts. It is
self-published, and I am basically responsible for all marketing. I
have really
enjoyed being the author of [that] book. It has won six book awards. The third book [published
in] 2008, is
a sequel, and is based on my
experience mediating over 6000 cases online with [a major online
auction
company]’s buyers and sellers. It has won three book awards so far. I
am now
working on a new book, the premise [of which] is that interviewing with
a
future employer is just another type of negotiation.
Q:
What sage singers and song lyrics and
inspired you through the creation
of your various written works?
A:
1. Kenny Rogers: Know When to Hold 'em and Know
When to Fold Them;
[and] 2. Rolling Stones: I Can't Get No Satisfaction. There are some
cases that
just won't get resolved and these songs reflect that.
Q:
Which Election 2008 debates were your
fave thus far—the Presidential or
the V.P.—and why…and what were you deservedly dining on before, during,
or
after you tuned into their tongue-tango?
A:
I was a
little disappointed that [all of] the debates' discussions of the
economy were
lacklustre. It was as though the enormity of the collapses had just not
hit
them yet. I was drinking Chardonnay and eating organic chips
while
watching the [October Presidential] debate. I have to say that Tina Fey
in the
Saturday Night Live spoofs of the [Vice Presidential] debate are my
favorite.
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