You're facing partners with varying risk tolerances. How can you find a win-win negotiation strategy?

Knowing how much risk each partner is willing to take is key for successful negotiations. Talk openly to understand their comfort levels with different types of risks, like financial, operational, reputational, and strategic. This helps you create a plan that respects their limits while showing the benefits of taking well-thought-out risks.

BATNA (Best Alternative to a Negotiated Agreement): Determine each partner's BATNA to understand their fallback options. This knowledge can help craft proposals that are more likely to be accepted.

From my experience, setting clear expectations early in negotiations can make the process too rigid and limit creativity. A gradual approach builds trust and leads to better outcomes. Flexibility and small steps help negotiators adapt, especially in complex situations.

Facing partners with varying risk tolerances requires a thoughtful negotiation strategy. Setting clear expectations early is crucial. Additionally, my father, who managed partnerships in his small business, always emphasized transparent communication. He taught me that setting expectations not only fosters trust but also paves the way for mutually beneficial agreements. By prioritizing open dialogue where the {Nays} are more important than the {Yays} and understanding each partner’s perspective, you can navigate differences and find a win-win solution.

In my opinion, too much information can overwhelm people and reveal conflicting interests, which need careful handling. Making sure everyone understands can also take time. Balancing openness with simplicity and structuring communication well can help make the process smoother.

Try to figure out the source of the risk aversion. Some people are just risk averse. However, very often they do not understand the risks or are receiving poor advice about the nature of the risk. Lawyers are great issue spotters and can tick off the worst case scenarios. A really good lawyer, can portray the "real world" likelihood/magnitude of the risk and also identify risk mitigation steps. If your partner's attorney is not providing that guidance, you and your attorney may have to provide a polite way of doing so.