Family Business Negotiations

The latest Harvard Business School's Working Knowledge newsletter shows a new article entitled Five Steps to Better Family Negotiations. Worth reading by anyone with a family-run business or representing one. The steps are:

1. Analyze the negotiation space
2. Don't try to beat the other side
3. Understand the other party's interests, constraints, and perspective
4. Avoid single-issue negotiations: identify and negotiate multiple issues simultaneously
5. Negotiate over interests, not positions

Frankly, these steps ought to have a place in most negotiations.