“We engaged Ian as our negotiations lead for our search fund-acquired healthcare business, and I could not have better things to say about Ian and the team at Medvec & Associates. They were incredibly professional and did not cut any corners in supporting us. In fact, we ran over our budgeted time and no one on their team even blinked an eye. I would highly recommend Ian to anyone who's looking to renegotiate a high stakes contract. He took the time to learn the business and understand the core issues, which allowed him to form very poignant, salient arguments that we were able to bring to the table.”
About
My professional efforts are focused on a fundamental belief: Conventional deal making is…
Contributions
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What's your data-driven contract negotiation strategy?
I agree, but this is all an egocentric view of the negotiation. You should start with the other side. What are the key market challenges the counterparty faces? Earnings call transcripts are a great place to start to assess the problems they face. With that in hand, you need to think competitively about how your differentiated offerings (compared to the competitive landscape) solve those needs. The best companies keep an organized and orderly fashion of earnings call learnings, key counterparty KPIs and counterparty touch point intel to constantly be monitoring these needs.
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What's your data-driven contract negotiation strategy?
Analytics should be used to calculate the counterpart’s BATNA. Which competitor would they use if you fail to win the work? You should have a sense of the cost delta from competitive benchmarking. Next, calculate out the additional business cost risk and probability associated with it. For example, if your product has a 98% run time in a critical assembly line and the competitive benchmarking is at 93%, calculate this additional cost to your counterparty. It’s fine to use reasonable assumptions in doing so. With this in hand, you have the top end of you ZOPA, with you BATNA serving as the walk away point.
Activity
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To all my Guardian Life colleagues, as well as all the fantastic partners accross the industry, I wanted to drop everyone a note to say thank you for…
To all my Guardian Life colleagues, as well as all the fantastic partners accross the industry, I wanted to drop everyone a note to say thank you for…
Liked by Ian Myers
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No surprise to hear the DVN purchase of GME shaking out at $5B. Anchors are powerful.
No surprise to hear the DVN purchase of GME shaking out at $5B. Anchors are powerful.
Shared by Ian Myers
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A little vulnerability to start off the week: Recently, I attended an industry event filled with a great mix of operators and OFS professionals. The…
A little vulnerability to start off the week: Recently, I attended an industry event filled with a great mix of operators and OFS professionals. The…
Liked by Ian Myers
Experience
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Education
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Graduated with Distinction
Drew H. Stahl Scholarship Recipient -
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Licenses & Certifications
Recommendations received
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LinkedIn User
1 person has recommended Ian
Join now to viewMore activity by Ian
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Excited to announce that Bedrock has officially acquired Procoto! The team has been working hard behind the scenes as we continue to redefine what is…
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Looking to do a short video testimonial in Fort Collins. If anyone has a recommendation please drop me a message!
Looking to do a short video testimonial in Fort Collins. If anyone has a recommendation please drop me a message!
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When Siemens initially acquired Mendix, I was skeptical. Six years in it is plain to see the product integration, investment in the product roadmap,…
When Siemens initially acquired Mendix, I was skeptical. Six years in it is plain to see the product integration, investment in the product roadmap,…
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Excited for this one. If you are in Denver and looking to reduce CAPEX / OPEX, come see us on the 27th!
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Our Summer interns visited the Houston Museum of Natural Science, where they engaged in learning about the science of oil & gas. We're excited to see…
Our Summer interns visited the Houston Museum of Natural Science, where they engaged in learning about the science of oil & gas. We're excited to see…
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Should you be slowing down your networking efforts in the current market of consolidation? Should you be passing on opportunities to enhance your…
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This #FathersDay, we're honored to share the story of Steven D'Achille. Following the heartbreaking loss of his wife to postpartum depression…
This #FathersDay, we're honored to share the story of Steven D'Achille. Following the heartbreaking loss of his wife to postpartum depression…
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What a journey! Delighted and honored to graduate from the General Management Program and officially become an alumnus of the Wharton School. A big…
What a journey! Delighted and honored to graduate from the General Management Program and officially become an alumnus of the Wharton School. A big…
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