I have always thought that negotiating is one of the most dreadful and challenging things in business. I had the preconceived notion that negotiating effectively requires a tough stance and a Type-A personality in order to outsmart your opponent. On top of that, there was always the feeling that I could have gotten a better deal if I had pushed “just a little bit more”.

But then, I came across this jewel of a book, titled “Fearless Negotiating” by Michael C. Donaldson and my framework of reference for negotiating deals changed forever.

Written in simple prose and with a very personal (and even spiritual) style, Fearless Negotiating walks you through a simple, yet extremely powerful, framework he calls the “Wish-Want-Walk” method for negotiating deals. In essence, you have to define those three dimensions for each and every item you want to negotiate and then stick to them when negotiating (you always start with your Wish, of course). I would be shortchanging the book if I told you that’s about it. Among other valuable insights, Michael encourages you to involve all the parties that will be affected by the negotiation, as well as “doing your homework” (including finding out as much as you can about the other person) prior to defining your Wish-Want-Walk exercise.

When you do this, something remarkable will happen, you will not only become more confident and calmer in your negotiations, but you will also “listen” more closely to what the other party wants and you will be able to either negotiate the best possible deal (or walk away knowing that you did the right thing).

Mr. Donaldson knows what he is talking about. He is not only one of the most prestigious attorneys in Hollywood but the recipient of the 2009 IDA Amicus Award (an honor bestowed on only two others in the 25-year history of the awards: Steven Spielberg and John Hendricks, founder of the Discovery Channel). Mr. Donaldson also teaches negotiation skills around the world.

You should definitely buy and read this great book. It will give you the tools and confidence to negotiate better, more honest deals. It will also inspire you to become a better person in the process. At 190 pages, you should be able to read this book in less than one week (and reap the benefits as soon as you start reading the book).

I’ll leave you with one of my favorite quotes in the book:

“The most advanced communication technology of this high-tech era: two chairs, two people, a lot of time”