Chapter 18

In summing up

Negotiating contracts can be an exciting business. As is clear from this book, it is a blend of a whole lot of different impulses, styles, strategies, desires and wishes.

By applying some of the lessons of this book, you will significantly increase your chances of doing better deals. I have attempted to distil some of the key messages in short phrases in the appendix called ‘the cheat sheet’.

By being more prepared and having completely considered all of the issues relating the contract, you are likely to create an even better springboard.

By weighing the detail precisely in the safety-net aspects of the contract, you have taken every possible step to protect yourself in the event of things going badly or not as contemplated or, if worse comes to worst, a ‘red zone’ event occurring.

Without being smug, you can feel confident that all of those you will be negotiating with may not have the benefit of these insights.

Bad commercial practices do not create a disaster every time. In fact I have sometimes marvelled at people in the business world using the most loose and reactive negotiation techniques, yet proceeding for many years without any problem. When a difficulty arises, it costs them a huge amount of money in legal expenses (and potentially damages) and significantly distracts them from the primary purpose of their own business — making money and doing deals.

I hope that this book has helped you to get better results in your contract negotiations and ultimately to do better business.