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A Negotiations WORKSHOP for Entrepreneurs
15

A negotiations workshop for entrepreneurs

Nov 10, 2014

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Education

BizGro Partners

Today's business and selling climate has become tougher to manage than ever before. The Sales Cycle is longer. Customers are more demanding. Competition is fierce. And money has dried up. Despite these conditions, what is the one skill as an entrepreneur that you can add to your arsenal that can improve your deal making skills and add to your bottom line today? Become a world class negotiator.

In business, you make more money negotiating than with any other skill. Yet many entrepreneurs have truly not developed this skill at the level needed to properly manage relationships and generate profits for themselves and their companies. At our workshop we will present strategies and a mindset that can help you generate cash flow for your business instantaneously. At our workshop you will learn the following:
We will define the negotiations process as a distinctive discipline from sales, marketing, and networking.
Why "Win Win" negotiating doesn't always work and what to do about it?
How to develop a fearless mindset that will enable you to incorporate negotiation strategies in countless interactions?
2 major concepts on how to set up a negotiation in your favor.
Real deal, modern practical strategies that can be utilized in any negotiation.
How to negotiate with friends, family, and people you like which is always a tough ordeal?
How to develop a team approach to negotiating major deals?
How to renegotiate bad deals?
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Transcript
Page 1: A negotiations workshop for entrepreneurs

A Negotiations

WORKSHOP

for

Entrepreneurs

Page 2: A negotiations workshop for entrepreneurs
Page 3: A negotiations workshop for entrepreneurs

House Cleaning:

1. Turn off Cell Phones

2. Save Questions for after the Presentation

3. Thank You to Martin Hoffenberg, Ellen Volpe,

Gene Brown, Chris Johnson, and Samuel A.

Maldonado

4. Our Roles (Speaker/Audience)

5. What we are going to cover (Mental Inner

Game, Strategic Set Up, Key Deal-making

Principles, Key Strategies)

Page 4: A negotiations workshop for entrepreneurs

1. Profit

The 3 Obsessions of Great Entrepreneurs:

2. Service

3. Relationships

Page 5: A negotiations workshop for entrepreneurs

Competent Negotiations Skills can lead to

generating massive profits. There is no other skill

that can make you more profit than negotiating. If

you want to earn more profit, become a world

class negotiator.

Page 6: A negotiations workshop for entrepreneurs

However, the skill must be balanced out with other disciplines

such as sales, marketing, and networking aimed towards

providing service and building relationships. Negotiations

should be a problem solving strategy first and foremost, and

a strategy to win second and it should never be used for

deceptive or malicious purposes.

Page 7: A negotiations workshop for entrepreneurs

In this sense, Negotiations is like the Martial Arts……

Martial Arts main purpose is not violence; its major

purpose is peace and control. Violence is only used

through martial arts when needed.

Page 8: A negotiations workshop for entrepreneurs

The Mental Game is the most important component in

negotiations. Without the proper mental game, all other

knowledge and skill become moot. Negotiations is the

one exercise where your confidence and self-esteem can

be quickly exposed because there are no rules in

negotiations. It is you versus your mind.

Mental Inner Game:

Page 9: A negotiations workshop for entrepreneurs

1. See yourself as a champion deal maker, a world class

negotiator, a haggler, and a pain in the_____________

Key Inner Game Concepts:

2. Negotiate everything all the time. (Similar to being a flirt)

3. Overcome your fear of losing relationships and people

not liking you

4. No deal or relationship is more important than your

well-being. Be willing to walk away any time and

any place even if the deal is seconds away from

being completed

Page 10: A negotiations workshop for entrepreneurs

1. Always ask for more than you expect

Strategic Set Up:

2. Get the other side to name the price. (A little overrated). If this does not

work, refer to # 1 “Always ask more than you expect”

3. Never accept the first offer

4. Create multiple issues in the negotiations

5. Always have a higher authority. Never claim to be a solo artist

6. Manage expectations

7. Never seem too interested or excited about a deal. (Stay levelheaded)

8. Always have multiple options. (Having one option is the kiss of death)

Page 11: A negotiations workshop for entrepreneurs

1. Law of Scarcity

Key Principles in Negotiations:

2. Hooker Principle

3. Information is Power

4. Know your Market

5. Only be Adversarial as a purposeful strategy, never out of emotion

6. Indifference is the real enemy, not objections. War is your friend

7. Win/Win does not always work

8. Never negotiate with terrorists

9. Learn from the best negotiators “Children and Immigrants”

Page 12: A negotiations workshop for entrepreneurs

1. Test for Validity (Learn the most important word in the Dictionary)

Key Strategies:

2. Make Friends (Great Way to avoid negotiations)

3. Plant Deficits (Tied into the Law of Scarcity)

4. Flinching

5. Trade off Methodology

6. Answer concession with a concession

7. Higher Authority (Make it vague)

8. Good Cop/Bad Cop

9. The Assumptive Close

10. Funny Money

11. Disappearing Acts

12. “The Conditional Contract”

13. Answer a Low Ball with a Low Ball

Page 13: A negotiations workshop for entrepreneurs

1. Test for Validity Back

Counter Gambits to Strategies Mentioned:

2. Separate Business and Friendship

3. Plant Deficits Back

4. Maintain Composure and Probe

5. Be Careful What You are Trading

6. Make your Concession Inconsequential

7. Call it out and call for a meeting with the decision maker

8. Call it out and let other side know you know what they are doing

9. Continue negotiations if necessary

10. Negotiate dollars, not percentages

11. Find another deal

12. Stick to the Contract

13. Stick to your low ball until the other side becomes reasonable

Page 14: A negotiations workshop for entrepreneurs

1. Test for Validity Back

Counter Gambits to Strategies

Mentioned:

2. Separate Business and Friendship

3. Plant Deficits Back

4. Maintain Composure and Probe

5. Be Careful What You are Trading

6. Make your Concession

Inconsequential

7. Call it out and call for a meeting with

the decision maker

8. Call it out and let other side know you

know what they are doing 9. Continue negotiations if necessary

10. Negotiate dollars, not percentages

11. Find another deal

12. Stick to the Contract 13. Stick to your low ball until the other

side becomes reasonable

Key Strategies:

1. Test for Validity

2. Make Friends

3. Plant Deficits

4. Flinching

5. Trade off Methodology

6. Answer concession with a

concession

7. Higher Authority (Make it vague)

8. Good Cop/Bad Cop

9. The Assumptive Close

10. Funny Money

11. Disappearing Acts

12. “The Conditional Contract” 13. Answer a Low Ball with a Low

Ball

VS.

Page 15: A negotiations workshop for entrepreneurs

Thank You…