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Modern Mentor

455 GID How to Negotiate with Contingency Clauses

Modern Mentor

Macmillan Holdings, LLC

Careers, Business, Management

4.3720 Ratings

🗓️ 15 May 2017

⏱️ 7 minutes

🧾️ Download transcript

Summary

People can’t always agree on what will happen in the future. But they can agree to do something if something happens in the future. Use this to negotiate better across barriers in belief.

Transcript

Click on a timestamp to play from that location

0:00.0

This is Steveer Robbins. Welcome to the Get It Done guys quick and dirty tips to work less and do more.

0:08.0

We all have people we want to reach agreements with about the future. But different people see the

0:13.4

future different ways, and this changes what we're willing to agree to. You might think you're going

0:18.3

to ship your product on time free of defects and revolutionize the market. Your customer might think you're going to ship your product on time free of defects and revolutionize

0:21.3

the market. Your customer might think you're going to deliver a hobbled together prototype

0:25.5

six months too late. Of course, you're the one who's right. But just in case, if you're going

0:31.2

to make plans and agreements about the future, you need to take into account a future where

0:35.2

everyone thinks something a little bit different is going

0:37.7

to happen. You need tools for uncertainty, and we have those tools. They're called contingency

0:44.7

clauses. You can bet on external conditions, things that you can't control. When you're setting

0:50.5

up an agreement, consider using contingency clauses. A contingency clause is just a bet that you make about the events that will unfold in the future.

0:59.0

They keep both you and the other person accountable for your decisions, opinions, and actions,

1:03.5

and they give you a way to value the future differently, so that each of you can walk away with a deal that you believe is a good thing,

1:09.9

given what you believe about the future right now. Now, of course, one, or maybe both of you, will be proven

1:15.7

wrong, but you'll be happy right up until the moment that you're flying car engine cuts off

1:20.9

at 30,000 feet, and happy is what's important, right? Now, one of your friends has been dying

1:25.8

to eat at Poke-Bole Express, the Japanese ramen restaurant that opened last week. Now, one of your friends has been dying to eat at Poke-A-Bole Express, the Japanese

1:28.3

ramen restaurant that opened last week. Now, they say that this ramen makes your dreams come

1:32.9

true. While it might be fun to have last night's dream about Warren Buffett, Kim Kardashian,

1:37.3

and Newt Gingrich come true, it might also usher in the apocalypse. Plus, you think the line

1:42.4

will be way too long at the restaurant and it will be at least

1:44.6

an hour's wait. But your friend disagrees and insists that after a week the line must have died

...

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