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INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.

Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Michael Marino.

The Michael Marino Commentaries

A critical part of a successful negotiation is knowing when to hold them and when to fold them. We can learn a lot from Kenny Rogers timeless, signature song “the Gambler,” first released in 1978. The compelling and moving story of meeting an old gambler on “a train bound for nowhere” contains several nuggets we can use in our time “At the table”. Bringing to life lyrics written by Don Schlitz, you will recall these insightful words: “ every gambler knows– the secret to surviving is knowing what to throw away and what to keep”!

Let’s put that advice in perspective. What is my objective in these negotiations? How do I define “success”? What will result in my client or me concluding our objectives were achieved? Whether at the farmers market, seeking that ideal job or promotion, or working on the global stage, you need to isolate the objective and ensure your points for consideration including what is it you need to keep? That’s the goal. Other points you put out there, knowing those you can “throw away”. Defeating several of your proposals is a key to your adversary claiming success. There cannot be a successful negotiation without both sides having wins. Back to the Farmers market and those Roma tomatoes. I know I want them; I know what the value is, I know what I am willing to pay. The farmer is offering 3 for $3. Do I ask for 6? Do I hold out for 5 knowing I will take 4? Most of us need to remember that if we do not put it out there, there is no chance of getting it. And we are not going to get an extra one if we are not willing to “hold”.

One of my core principles in negotiations, whether over settlement of a union agreement, negotiating a sports or marketing contract, or buying a new car, comes back to the words of a sage USAF Colonel, who said to me during a negotiation for civilian contract services on an Air Force base, Mike you have to “screw yourself in the seat”! This is another version of “hold ‘em”. Do not rush! To achieve those items you want to “hold”, you need to be prepared to “sit”. Your messaging is I am here to get this done. To achieve your key objectives you have to hold ‘em, and that may require sitting and listening. You can link throw aways to achieving what you really need for your success. (ok, I’ll let that one go, if you agree to this.)

“ if you play the game, boy you gotta learn to play it right”

Timeless advice, brought to life by Kenny Rodgers, written by Don Schlitz, country legends.

Michael Marino is a NYC-based management labor, employment and entertainment lawyer who for decades has represented corporations, executives, celebrities, sports figures, and influencers. A member of the College of Labor and Employment Lawyers, he has tried federal court cases across the country and negotiated hundreds of collective bargaining and marketing agreements. Before entering private practice, he served proudly as an officer in the United States Marine Corps, and as Special Counsel to the Secretary of the Navy. He is a graduate of Georgetown University Law Center, Syracuse University College of Law, and Cornell University’s School of Industrial and Labor Relations.

Learn more at https://www.seyfarth.com/people/michael-f-marino.html/.

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