Thoughts and Insights by Michael Gregory

Scrabble letters spelling diversity on a background of turned over scrabble blocks
September 13th, 2020

How can firms increase diversity among equity partners and team members?

Reading an article recently in the ABA Journal by Maria Antonieta Sager and her journey to become a partner as a woman of color attorney, and networking with Dr. Artika Tyner, the Director of the Center on Race, Leadership and Social Justice at the University of St. Thomas Law School,  after Dr. Arika Tyner read Maria Antonieta Sager’s article, I wanted to share with you some insights that help me and I think may help you with this title question.

Key words with Ethics in the center surrounded by other related words
September 7th, 2020

Are women more ethical than men in negotiations?

Recently the Harvard Law School Program on Negotiation provided an article on this subject entitl

Two caricatures of faces. One red and one blue each looking the opposite way
August 31st, 2020

This is how to overcome your conflicts

The Collaboration Effect® is all about connecting relationships, listening actively, and educating judiciously in order to build bridges to negotiate closure. This is a core statement. Although many blogs have been offered through this site relating to the application of The Collaboration Effect with the IRS, estate planning, exit planning, working with difficult people and in many other areas at my blog site, I want to take this opportunity to spend a little more time on each of these elements of The Collaboration Effect. This commentary is a little more detailed than any of the other blogs, but is still simply an introduction to the topic.

A mansion with many rooms and a big garage
August 24th, 2020

This is how to interact with an IRS Estate and Gift Tax Attorney on a valuation issue

It was my pleasure to be interviewed by Melissa Gragg, the Managing Partner at Bridge Valuation Partners, LLC, via her pod cast on this topic. For those not interested in listening to a nearly 90 minute podcast with lots of details, here is a much shorter seven minute version sound bites on LinkedIn. However, for those looking for a quick read on some of the key points this may help. We discussed over a dozen questions and additional follow up questions, but here are some of the key points.

Colorful air balloon in a blue sky with two clouds
August 17th, 2020

Exit Planning with The Collaboration Effect

If there ever was a profession where The Collaboration Effect® made sense it is in exit planning. Instead of individual specialists reaching out to a potential client wanting to exit a business, think about if they worked together and what a better result there would be for the client. This past week it was my pleasure to address the Exit Planning Institute (EPI) Twin Cities Chapter at the invitation of the Chapter President Julie Keyes and to meet the incoming Chapter President Mark Hegrstrom. I presented Collaboration for Exit Planners – Applying The Collaboration Effect®. They were very receptive and I appreciated their glowing recommendations. Here are some of the key points. We can all learn from this example.

Man in suit pointing at clear screen where the button he is pointing at says audit
August 7th, 2020

Begin an Audit with the IRS with Collaboration

When you think of collaboration quite likely the IRS does not come to mind. Rather when you hear the term IRS you are not thinking of working together. Instead the thought of an IRS audit likely brings forth thoughts of anxiety, I don’t have time for this, why me and now what? With that in mind I thought explaining some basic tips after receiving an audit letter from the IRS may help. Especially as these tips relate to The Collaboration Effect. After all the IRS are people too.

IRS symbol with IRS - blue background and white symbol and lettering
August 3rd, 2020

IRS, Business Valuers, Adjustments and Preventative Approaches

On July 1, 2020 it was my pleasure to be interviewed by Melissa Gragg, CVA, MAFF, CDFA and Managing Partner at Bridge Valuation Partners, LLC. This 84 minute podcast is packed many ideas of how to avoid and what to do if audited by the IRS on an estate or gift tax return. For business valuers this commentary focuses on the most common adjustments by IRS Business Valuers and what you might want to consider to both avoid an audit and what to do if audited. What does this have to do with The Collaboration Effect® you may ask. Read on. Clearly not everything in that podcast can be presented here, but some of the key highlights can be. The purpose of this commentary is to focus on one of the questions from that podcast. That is: What are the most common adjustments by IRS Business Valuers.

Symbol for the IRS with the letters IRS underneath
July 27th, 2020

IRS, The Collaboration Effect® and Estate and Gift Tax Audits- What do they have in common?

On July 14, 2020 it was my pleasure to be interviewed by Melissa Gragg, CVA, MAFF, CDFA and Manag

Smiling happy woman looking at connections of photos of smiling tied together with linksl
July 20th, 2020

Here are three keys to happiness at work

We are in stressful times with COVID-19, George Floyd, and work. For those of working, we feel for those that aren’t. For those working with kids in school there are many unknowns for this fall with virtual classes, being at school and hybrids. Those are plans, and once something happens parents will have to adjust to changes. With everything going on in our lives at home, in life and at work, what can we do to find more happiness at work? That is the focus of this article.

two caricatures with one lifting a sign stating "ethics" on one end and the other with his had on the sign on the other end
July 14th, 2020

This is how to remain ethical with hard bargainers

With the advent of artificial intelligence ethics is taking on additional importance. The Harvard Program on Negotiation identifies five principles for consideration. Linda Fisher in her book, 7 lenses, Learning Principles and Practices of Ethical Leadership offers seven lenses of ethical responsibility. A question is how can these principles and ethical responsibilities be applied to negotiations? When working with principled negotiators the ethical principles and ethical responsibilities seem to be very practical. What about when needing to address hard bargainers that don’t seem to have principles and ethical responsibilities?

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