Business Mediation

Business Disputes – The 7 Golden Keys to Mediation Excellence

April 22, 2021 By Eddie Senatore

Business Disputes and Conflicts Are Never Fun

I’m going to make a bold statement. Not all mediators are equal.

Some of you have already learnt this the hard way. I hope many of you never have to discover this at all. Business disputes and conflicts are never easy, nor fun, but happen.

If you find yourself having to deal with business disputes, it’s always best to do this with confidence, and clarity, and sooner rather than later.

To help you to make a clear decision upon mediation or court, I’m sharing with you my top 7 golden keys to achieving good outcomes through excellent mediation. Good mediation will get the job done, but great mediation will touch you at your core and stay with you as peace and gratitude.

What are the Key Things that Make Mediation Unique and So Powerful?

Confidentiality
Mediation is a strictly confidential process. Your mediator may only speak about your mediation to other people with your permission. Therefore, only your mediator’s authorised advisors or close and immediate support people may be privy to any discussions in mediation.

Release of Information
Your mediator may only release information at the completion of mediation as instructed and agreed to, by both parties unless obligated to by law or permission is given to do so.

Ground rules
Mediation is a respectful discussion and free from any threats or abuse. This is achieved by the facilitation of all parties agreeing upon a set of ground rules. This will outline clearly how you will treat each other during mediation. These ground rules will be maintained and upheld by your mediator.

Neutrality of Mediators
Your mediator must always be neutral and impartial. They will not benefit from a specific outcome of the dispute. A mediator will not be bias towards any party, and must not have any real or potential conflict of interest. Any real OR potential conflict of interest must be disclosed and discussed immediately. This allows you to raise any concerns you have if you become aware of any.

Mediators are NOT your Advisor
Your mediator assists you to reach an informed and voluntary agreement. As such, they will not provide legal, other advice or judgement under any circumstances. Your mediator may however, assist you to make an informed decision and may suggest/refer you to independent advice or counsel.

Inadmissibility
Offers made, information shared, and the things discussed and considered in mediation are not admissible as evidence in court. This allows you to carefully and clearly consider your options without fear or force to do something you haven’t fully agreed to.

Agreements
Mediated agreements are done so freely. If not, you may speak privately with your mediator to share your concerns with them. If the agreement is written, signed and dated it will have some legal weight and can be admitted and presented as evidence in court. Ultimately, in this event, the judge decides if they will order you to follow the agreement you reached.

If you are experiencing, or wish to prevent, conflicts and business disagreements, contact me directly for mediation counselling on 0448 000 010; or hello@eddiesenatore.com or browse my website www.eddiesenatore.com to read some real life stories.

Tune into our video to learn about the 7 Golden Keys to Mediation Excellence

Why Mediation? 9 Reasons Why

April 14, 2021 By Eddie Senatore

A Guide to Mediation

When business conflicts occur, they can often arise with or without notice or warning signs, and can feel like you’ve been hit by a freight train.

If there could be just one thing I continually recommend above all else to anyone enduring or wishing to avoid forceful and hostile conflicts, it’s this – ‘Don’t hesitate, have a conversation and ask for help!’

30 years of experience in the mediation business has shown me, the earlier you ask for help, often the smoother, easier and less costly the outcome. Disputes and issues have a way of compounding and gaining momentum – just like a snowball does. It’s always best to start whilst you’re at the top of the slope. It can afford you a better perspective and foundations to work from.

Sorting out issues and conflicts in mediation, is a far better choice than going through the courts. Some reasons are more obvious than others.

Why Choose Mediation?

So, here’s my 9 reasons why mediation:

1. Commitment – It’s up to you

Mediation is a voluntary process. Parties who agree to mediation do actually want to resolve the issues.

2. Confidentiality – Fundamental

Mediation is strictly confidential and always private. Going to court is not. Mediation by law must remain confined and may not be used outside these parameters without permission.

3. Cost – A big one

Mediation simply costs less than going to court. Your fixed cost is known up front so there will be no hidden surprises or mounting costs.

4. Time – The most precious

You control the time not the system. Mediation can be arranged at short notice.

5. Flexibility – It fits in with you

Mediation is a flexible, informal process. You decide what you will discuss and can take a break whenever you need. Unlike court processes, which are very formal and controlled by a judge.

6. Honesty – Another fundamental

Mediators are skilled professionals, creating a safe environment where you are able to speak honestly about the impact the conflict is having on you and what you require to resolve it. This allows you to discuss issues, explore options and reach agreements that meet your needs, interests and expectations.

7. Support – If you need help, it’s there

Non-participating support persons are welcome to attend the mediation, subject to the agreement of all parties.

8. Agreement – You decide what to agree on

Your agreement may result in a simple handshake agreement, a written reminder, a signed agreement, which has some legal weight, or you can take further steps to turn your agreement into a contract. It’s totally up to you.

9. Finality – Get on with your life

Agreements reached in mediation are yours. Generally then these agreements are much more likely to be more successful in the long run.

Business Conflict Management

If you are experiencing or wish to prevent business conflicts and disagreements, please get in touch with me. Let’s have the conversation.

Contact me directly on 0448 000 010; or hello@eddiesenatore.com or read some real life stories on my website www.eddiesenatore.com

Tune into our video to to find out Why Mediation?

Business Dispute Mediation – Being a ‘Right Fighter’ is No Way to Win

April 5, 2021 By Eddie Senatore

Finding a Better Way to Resolve a Business Dispute

Amidst flaring tempers, heightened emotions and conflicting views, being stuck in the middle of a business dispute can be devastating to all involved.

With 30 plus years of experience in dealing with people in difficult situations who are stuck trying to find solutions, I’ve learnt a few home truths about mediating and achieving the right solutions.

Whilst the topic of the conflict may vary, there are a number of common threads to any dispute which can make or break those involved. Any conflict or dispute undoubtedly creates uncertainty, instability and can end up being extremely costly if handled the wrong way.

Business dispute mediation is a process of negotiation between parties in a dispute. At all times, it must be managed by an unbiased, independent, and impartial voice within a confidential, structured, and personable setting. Ultimately, there are no winners whilst the state remains hostile and positions entrenched.

The concept of mediation is to provide cost effective outcomes either before or after relationships break-down. For people in this position, I provide a bridge to your solutions. I ensure a safe and respectful environment to meet and discuss the issues.

Mediation Creates 4 Key Outcomes

Allows you to be heard equally and fairly;
Work out which issues are important to each party, and why;
Uncover areas of agreement and common ground, and to;
Help the parties find solutions for the identified issues.

It’s important to remember, in a mediated outcome, the solutions are by nature, what you agree to, rather than a dictated to you – the WIN/LOSE dual.

Mediation is a voluntary process, in which the parties involved take ownership of, and are responsible for finding workable solutions to the identified issues. Whilst some solutions are better than others, and often these solutions may not be perfect, they are indeed solutions all parties can live with, and begin moving forward in their own lives.

How to Resolve a Business Dispute

If you are experiencing or wish to prevent business conflicts and disagreements, please get in touch with me and let’s have a confidential conversation. From experience, I can say, the earlier these matters are addressed, the lesser the pain, suffering and cost.

Contact me directly on 0448 000 010; or hello@eddiesenatore.com

Taking Early Action Prevents Unnecessary Heartache, Pain and Suffering

March 30, 2021 By Eddie Senatore

taking early action

Achieving Business Objectives

There are lots of business terms which are thrown around and often poorly understood, such as business turnaround, workouts, restructure or business recovery.

Today, I’m going to clear that up for you.

If you’re a business owner, chances are, you’ve had it tough, or could soon be knocked about. Forces beyond your control, can rock your business and play havoc with your livelihood.

On the other hand, forces within your control can also shatter your business dreams and aspirations. These especially are preventable, provided you take action early and seek the right advice.

If you have recognised signs of strain and financial pressures within your business, or feel like you have lost a hold of the controlling reigns of your business, it’s likely a good idea to trust your instincts and seek independent advice.

What Exactly are Business Workouts, Turnarounds, Restructure and Recovery Management?

recovery-management Workouts occur where business owners recognise issues with its business and take early action to prevent the situation from getting worse. The key is to get in early, engage with key stakeholders and come to an agreement on how to manage the business.

An independent perspective is critical in this circumstance.

I talk to stakeholders on all parts of the business playing field.

Believe me with over 30 years experience I can predict the referee’s call more often than not.

If a business is analysed or assessed early enough, there is a high chance we can implement a business plan to stabilize a business and set it up to turn around and point in the right direction.

This involves assessment of the numbers. That’s the easy part.

Looking at both the big and small picture is fundamental – macro and micro. It also involves assessing and testing assumptions, key players, and attitudes. There’s a lot in it.

Recovery needs time, the earlier you start, the better your chances.
The success of any change management plan hinges ‘buy-in’ from all key players.

You’re Not Alone

Let’s have a conversation. I can talk to you about what I have seen.

Contact me directly on 0448 000 010; or hello@eddiesenatore.com

4 Reasons Why Your Business Will Fail

March 26, 2021 By Eddie Senatore

Business Failure Factors

If there’s one thing I’ve learnt in over 30 years of working with business owners it’s that no one plans or sets out to fail in business.

Not all is equal in the playing field of the business arena. Luck plays a part too.

In most cases, it’s possible, in the post-mortem of a business failure, to pinpoint where and even when a business first began to fail. In many cases it is far earlier than you would have expected. It just creeps up and next thing you know, there’s a knock on the door.

What I can also tell you is, businesses today will fail for exactly the same reasons they failed 30 years ago or more…

On far too many occasions, business owners don’t see the early warning signs and by the time they ask for help, it’s often too late and the pathways out are extreme.

I’d like to see more business owners reach out earlier and have the conversation. Indeed regular check ups should be a standard activity.

How do you know if you’re going to get that knock on the door?

The answer is, you won’t know if it’s in your blind-spot.

Failure starts early.

A blind-spot can only be seen from a different perspective. That’s why it’s your blind-spot. This is why it’s so important in any business that matters, that you have at least one external strategic business advisor. Someone who understands what a business owner is going through:

the challenges;
pressure;
conflicts;
priorities;
the choices;
….the many choices.

To the credit of clever business operators, I don’t always work with failing businesses. Many are good businesses which can or should be great businesses.

Testing your business, its assumptions and you, is what I do best.

Don’t Underestimate the Value of a Different Perspective

Like most of us, you get so involved and immersed in your day-to-day, that it is too hard to step back and take an objective view.

Here are the top four reasons business owners say they failed at their business:

Cashflow
Lack of profit
Management
Poor financial control

These reasons are a business failure staple. With over 30 years’ experience, it stands to reason; I’ve seen it; I get it.

If you feel your business is not going the way you expected, if you think your business could be doing better, or if you’ve already hit troubled waters, please get in touch with me and let’s start the conversation.

You’ll be glad you did.

Contact me directly on 0448 000 010; or hello@eddiesenatore.com if you’d like to hear some heartfelt stories from my clients.

Top 4 reasons your business will fail from business owners who have been there already

Watch the video below

Mediation Today Interview

November 10, 2020 By Eddie Senatore

Monday 2 November 2020 – Mediation Today

Eddie speaks with Vesna Cvjeticanin – Mediation Today on FM Radio 98.3 about what he’s been up to in the mediation field lately.

Podcast: Play in new window | Download

Zombies

October 16, 2020 By Eddie Senatore

Zombies

Being in business is hard work. Sometimes, no matter how hard you work, the plans you put in place, the investments you make, it just doesn’t go your way.

In the world of fantasy, a dead body reincarnates somehow and becomes undead. A zombie. So too in business. To give businesses a chance and to get money to the people, the government provided support through a comprehensive fiscal stimulus package. A financial lifeline. The Government also changed the rules of the game around debt enforcement and insolvent trading.

It has been a game changer, and rightly so. Like any initiative, there are intended and unintended consequences. One unintended consequence has been the creation of zombie businesses. These are businesses that have financial challenges.

So much so, that a lot of them should be shut down. The only reason they continue to exist is because of the Government’s fiscal measures.

Your job in the current climate is not to become a zombie. It might be good to get the extra sales away but if the company you are dealing with is a zombie business, you might not get paid. In the worst case, you may become a zombie yourself.

COVID19 has taught us to be vigilant, take simple measures and take them well. Early intervention is the key.

Look after your business. Take care of yourselves.

Fighting a Losing Business | Tobacconist and Gaming business

March 9, 2020 By Eddie Senatore

"I was educated at Trinity and Knox Grammar schools and spent time in the defence forces. At 50, I wanted to own and operate my own business; not only to secure my financial independence, but also bring some flexibility to my lifestyle.

It was not so crazy at the time, but I bought a profitable tobacconist and Tattersalls gaming business. I made some money from that business and had a lot of time to myself and my family. The business was doing well until the Victorian Government decided to change the game and open up competition, they removed the monopoly held by Tattersalls. I literally lost one third of my revenue overnight.

Now that's not on me. But how do I manage that? I did believe Tattersalls when they told me new gaming options would be made available to me soon, and that this would lift my trading back to normal. I continued to operate my business…. and I continued to lose money. The only way I could pay my bills was to borrow money on the house and dip into my superannuation fund.

And that's what I did.

I then tried to negotiate new lease terms with my landlord, and that didn't go down so well either. There are two factors which influenced my decision to stay in business. The first is failure, I considered a decision to close my business would be the signature of my failure as a business person and because of this my family would think I'm a failure also. After all, the business employed my kids. The I'm not failing syndrome is all persuasive and blinding to the reality around you. The perception of whether any decision can be made against an existing structure is so confusing. Trinity and Knox Grammar were institutions where rewards followed effort. In my mind, results would follow from my hard work. Failure was not an outcome. In the defense forces failure was not an option. So why wasn't I warned about failure as an outcome in my business. No one told me. I felt guilty I was using my family wealth to keep a loss-making business afloat it was stupid. My wife told me to stop, she was tired of using her money to pay for my business expenses. She made me face the reality, Tattersalls aren't going to look after you she said and they aren't paying your bills and the landlord still wants his rent.

So I took a decision, I met a specialist in managing difficult business situations. He helped me sell out and to wind up. And yes, I should have done it years ago." - A tabacconist and gaming business owner.

There could be any number of reasons you would want to exit your business. It could be:

part of a succession plan
you’re received an offer to good to be true
a dispute between participants
changing market conditions
poor performance
solvency or crisis issues
or it’s just time