It’s often been said that knowledge is power. When you enact the knowledge or information you are given, prior to entering into negotiations, you will control leverage in the conversation. Before investing in any business venture, any good investor will do their homework, and the same is true for a good negotiator. Some of the most detailed and high intensity negotiations happen in courtrooms across the country. Whether it be in a small claims court or a high profile murder case, there is a lot of background research that goes into this scenario.
On average, lawyers go through seven and a half grueling years of school before studying and then passing the bar exam. During this time, they are memorizing the federal and state laws as well as all of the court cases that have impacted society to create the laws we abide by. There is no specific bachelor’s degree that will guarantee them a smooth road through law school and before their application is even considered, they must have a GPA in the top percentile in undergraduate studies. All of this studying is done and they aren’t even close to entering a courtroom. The knowledge gained in these stages is information that may prove to be pivotal in there practice. The time sacrificed and all of the background information gained throughout this lengthy process is what we depending upon when we are in need of a qualified attorney. Imagine how you would feel being accused of murder. Would you choose someone to negotiate on your behalf who hasn’t done their research and passed the bar?
“An investment in knowledge
always pays the best interest.”
– Benjamin Franklin
I can’t stress enough, the vitality of digging into the information that is available to us. This interest that Benjamin Franklin is speaking of, can either be paid by you (if you are lacking the information needed to negotiate effectively) or, if done properly, your research can create the kind of deal that can ensure you passive income that will outlast your lifetime.