The Gotham Gal and I are watching Succession after being told by so many friends and family members that we had to see it. We are in season two and last night we watched an episode where Logan Roy tries to acquire a family-owned media business. The selling family, led by the mother, tells him they will do the deal if he names his daughter Shiv as his successor. Logan explains that is not how he does things and that he will name his successor on his time and terms. The mother explains it is a requirement of the deal. And so Logan leaves the meeting without closing the deal.
On his arrival back in NYC Logan hears that the selling family has “caved” and will do the deal without a named successor.
The walk-away move is a bold one and does not always lead to winning on your terms. It can cause you to lose the deal.
But I am a fan of the walk-away move because it shows the other party that you are not going to move on your offer anymore and forces a hard decision instead of endless negotiating, which I personally don’t like.
I am often counseled to keep talking and relax. But I find walking away to be very effective if done at the right time and after being very reasonable until then. It is a very powerful way to send a message.