* Is there really ever a true ‘win-win’ scenario? You hear it all the time, in business and even in life situations: ”Hey this is a win-win!” However, if you have to convince someone it is a ‘win-win,’ then it probably isn’t. And if one party’s definition of a ‘win’ is that someone else loses, then there is no deal to be had and you will certainly end up with a ‘lose-lose’ scenario. Join this discussion about how to give yourself the best chance at actually achieving the theoretical ‘win-win’ and avoid the pitfalls that unwittingly suck you into a ‘lose-lose.’ * Brief Recap of Past Couple of Shows * Optimal Time Management…Don’t strive to be ‘busy’ strive to be accessible * Don’t take the blame…take responsibility * Blame or fault is backwards looking * Responsibility is forward thinking * ‘No one is coming’…acknowledgement and responsibility opens up innovation and opportunity * Introduction of Discussion Topic * Sports is a true zero sum game…one team wins, one team loses or there is a tie, but the goals scored for equals the goals scored against. * Business isn’t always a zero sum game…because a ‘win’ in business isn’t always as clear as the scoreboard when time expires on the field. * A successful negotiation is that everyone leaves the table believing they’ve done the best they can given the circumstances…that is a success… a theoretical win-win. * If someone is buying, someone is selling. The hope is that the buyer believes they are getting a good value and it works out the the sellers believe they are being appropriately compensated…and isn’t that a win-win? * A Venture Capital fund buys equity from an early stage company…the early stage company hopefully gets much needed cash infusion plus some expertise and management support…and the VC gets in early on a venture that will hopefully grow 10 fold…isn’t that a win-win? * While deals should be that rational they unfortunately rarely are what they should be in theory. * Can there be a win-win? Yes, there can be a win-win, but only if the focus can truly be on generating long term value. However, in business we can’t avoid working with people. People are the greatest asset to any company and can also be the greatest liability. There is NO win-win if someone’s win depends on someone else losing. * The uninvited guests to every negotiation are hubris and ego…and they insidiously destroy value while making you think they are there to protect and defend your interests. * Calling a lawyer to try and validate your paranoia or perceived injustices (they are rarely real) means you have failed on MANY levels. In negotiating any deal, a lawyer should be there to ensure you have kept a value generating perspective and help you with clean paperwork. If you are using a lawyer to forward an adversarial objective, that just makes you a coward and your lawyer is a shame to his or her profession for galvanizing your plight because that isn’t the job of a competent attorney. * Get over yourself. If you are whining about some perceived injustice it means that your actual work or contributions weren’t good enough to speak for themselves…and you are so much of a coward that you couldn’t have a rational discussion that you’d have to find someone else (like a crappy attorney) to fight your battles for you. * What can you do to try and get a win-win? * Check your ego at the door * Prioritize the needs of the venture above your wants * Know the genuine value proposition * Be open to the perspective and incentives to all those around you. The win-lose is contagious! Beware the instigator who throws kerosene on the fire. * Ask the key question: Why are we here? The answer should be: We are here to make money or...