WISard BLOG

CONTRACT WISARDRY – PEAK NEGOTIATION

What if you could make every contract an asset to your business? The key is to negotiate more effectively! Over many years, I have developed an extraordinarily successful method of negotiating contracts which I call “Contract Wisardry.” I have negotiated millions of dollars in contracts with some of the largest companies in the world; however, I represent {individuals and} businesses of all sizes. In the last three years alone, I have closed over $15,000,000 in contracts.

How did Contract Wisardry come about? Early on in my career I was the Chief Counsel at a national software company. I negotiated hundreds of contracts with Fortune 500 companies, including NCR, IBM, and the Federal Reserve Bank. Ordinarily, these giant corporations cannot be pushed around. Yet, their cooperation was essential to securing the software contracts that my company depended on.

  • Over the course of my 35+ years as an attorney, I have found that some of the most fundamental pillars of a business are its contracts. Contracts create legal relationships that safeguard your rights and obligations. However, they are often abused by big businesses and their lawyers purposefully made to be hard to understand, stressful, and needlessly clouded with mundane details intended to distract you from the most important information. As a third-generation lawyer, I have been trained to see through these types of contracts and can make them work for you instead of against you. I love to see my clients’ smiles when we score a win-win contract.

Luckily, I had an advantage. My years as a tax and business attorney had given me plenty of practice in negotiating with the IRS, which made dealing with corporations seem like a piece of cake. Furthermore, I love working with people. I believe in playing it straight and being open-minded, which allowed me to approach seemingly unsolvable situations from a unique perspective. There is no substitute for experience, and the invaluable lessons I learned through working with these companies served as the foundation for my contract negotiation tactics.

Another crucial aspect of forming the system behind Contract Wisardy was research. As I have mentioned several times in the past, creating contracts that benefit both sides (win-win contracts) is something that I always strive to do. This idea is echoed throughout The Seven Habits of Highly Effective People by professor and author Stephen Covey. Covey advocated the idea that both parties to a contract can win. He emphasized that, in order to achieve a mutually beneficial result, you must:

  1. Understand the other party
  2. Begin with “the end” in mind
  3. Be proactive
  4. Put first things first.

Another important source from which I learned is The One-minute Negotiator by Don Hutson and George Lucas. As a friend and great mentor of mine, Don’s work had a big influence on the development of Contract Wisardry. Understanding your own strengths, weaknesses, and tendencies before any negotiation is something he emphasized. The “win-win” strategy is also something he often mentions throughout his work, as well as how to navigate around irrational or stubborn people.

In the end, years of experience, research, and natural intuition all contributed to creating my full proof Contract Wisardy negotiation method.

Want to know more about Contract Wisardry and how to use it? Wait until my next article!