On this episode we're joined by corporate finance advisor Andrew Jeffs. He helps founders effectively approach the process of negotiations and deals when they're ready to sell their business. Andrew finds his work lively because every client is different, every negotiation is different, and every deal is different.
Today, Andrew shares the secrets to successful negotiations, how to stay cool and calm when the tone of the deal goes sideways, and how to identify your strengths no matter which side of the deal you're on.
Topics covered during this episode include:
- Andrew's professional background and the clients he works with.
- What it takes to be a great negotiator.
- Why stepping back is sometimes necessary to achieve the best outcome.
- The importance of building rapport during the negotiation process.
- The secret to forming a successful negotiation mindset and what it looks like.
- Andrew's tips for maintaining a calm state—even when the other side has not.
- What to do when the tone of a negotiation goes sideways.
- A unique experience Andrew had during a deal a few years ago.
- The importance of recognizing negotiations involving multiple decision makers.
- Why you should never bluff during negotiations.
- The benefits of being the smaller, more agile party in deal making.
- How to approach creating alternatives while structuring a deal.
- A strategy for changing the mindset around a deal and why it works.
- Why Andrew says we have two ears and one mouth for a reason.
- The intersections between deal structure and relationship structure.
- The specific situations in which it's okay as an advisor to be the "bad guy."
Andrew Jeffs on LinkedIn: https://uk.linkedin.com/in/andrew-jeffs-50610619
