Once we have initiated a culture of innovation, then it is primary responsibility of leadership to ensure synergistic outcomes. The power of synergy, although simple in concept, is most overlooked responsibility of today's senior executive corporate leaders. Large organizations are like campfires that periodically burn down until mainly embers remain. The initial fuel is mostly spent and therefore first reaction is that we need new fuel, new resources, new investment, acquisitions, etc. to build fire back up. Yet when out camping and fire burns down, first thing we do is stoke existing fire and mound up glowing embers. Almost immediately flame erupts again without adding new fuel.

All we needed to do to go from dying embers to a raging campfire was to integrate existing embers so that rather than each burning alone, they burned synergistically, combining their individual heat. So too, careful integration of all of our products, services, processes and methodologies, in short, everything organization is and does to achieve greatest bang for buck is no more than organizational form of stoking fire. Unlike adding new wood to fire, synergistic result of stoking is virtually immediate and without need to invest capital in additional resources. Synergy is ultimate multiplier, as it opens door to exponential results again and again!

Now for song:

You got to know when to hold 'em: Negotiation requires that you have patience and confidence to be still. If other party precipitates a long silence, wait, that's right, just simply w-a-i-t. Let them break silence. If it is truly a relationship, they will. Remain steadfast, solemn, but not sullen and wait. Hold out firmly for your high priority/risk issues.

Know when to fold 'em:

Holding out for a lost cause is not only against your best interest, but it also makes you appear stubborn and foolish. Know when to give in on a point. If it is not a "walk-away" issue, then concede graciously and negotiate onward.

Know when to walk away:

If deal cannot be had without violating your prior walk-away decision, then walk away, but just walk. Clearly articulate your position and reasons, then leave courteously, letting other party know that you mean what you say, but still leaving door open for them to reopen discussion after conceding to your walk-away issue (s). Never, never reevaluate your "walk-away" position while sitting at table. I have seen this done too many times under guise of "new information", a code phrase for "giving in". If indeed completely new facts have come to light, then take time to recess, get away, preferably for several days or at a minimum overnight. It is too easy to convince oneself that you should alter your "walk-away" position when you see negotiation going down in flames. Remember, whole reason for developing your "walk-away" positions well in advance of negotiation, was to prevent being pressured into giving up ground on these critical issues an inch at a time. This is an instance where unless other party reconsiders, you will be far better served strategically in future by building a new relationship or finding another way of accomplishing your goal, despite momentary discomfort. Face fact today that relationship is no longer mutually beneficial and move on.

Know when to run:

Run? Yes run, when other party demonstrates bad faith or a lack of regard for truth. No business relationship is worth risk and inevitable pain that results from dealing with dishonorable people and organizations. After all, would you continue playing cards with someone after you learned that they were using a marked deck? Run, do not walk and do not leave door open behind you. Let them know that you have no time or interest in doing business with those who do not understand meaning of words TRUTH and INTEGRITY.

You never count your money When you're sittin' at table Ther'll be time enough for countin' When dealin's done

Never talk openly about how much you or your company will profit from deal and never, never gloat over terms of agreement afterward. Both are evidences of bad taste and a severe lack of personal discretion. Also, news like that has a habit of getting around. I have seen successful negotiations sour after fact, because someone with loose lips later let slip an indiscreet comment, that led other party to believe they had been taken advantage of or mislead. On positive side, do celebrate outcome together with other party at conclusion of deal. Go out together to lunch, dinner or whatever. In doing so you celebrate success of everyone involved and thereby further reinforce relationship for future!

Although gambling and negotiating are not same, we can learn a great deal from Kenny's straight faced poker player.