Entrepreneurship - Part 7: Negotiation
How to Negotiate so Everyone Wins, Especially You!
Margaret Neale: Negotiation: Getting What You Want
The ”negotiation” video teaches about some practical tips such as being explicit about how you want to do business, not focusing completely on price, and how the BATNA can determine the feel of the entire negotiation. This taught me that the batna is not only something to research as a fail safe, but it is also helpful through out the negotiation process as it makes you less dependant on the need for a deal and you can be more aware of all the factors that are being brough to the table.
The “How to Negotiate so That Everybody Wins,” video is about one main principle of negotiating; not focusing on what you want but on building relationships. This method suggests that you focus on the “opponent’s” or client’s needs through the 3P's: Prepare-Probe-Propose, These can be very useful tools in positional bargaining.
Finally, the last video, “Margaret Neale: Negotiation: Getting What You Want” is about applying 4 step; Assess Prepare, Ask, and Package. Margaret addresses how we should think about negotiations as collaborative problem solving, not competition. You should be attempting to solve both party’s problems while getting more of what you want. She also points out that a person should Understand on a DEEP level the preferences and interests of our counterpart (opponent).
These things can help in my entertainment business plans directly. Often times in entertainment I will be working with different employees and in negotiating contracts these tactics can be beneficial in not only making sure everyone has an advantageous solution, but also that they are willing to do business with me again. I also will be working and collaborating with very technical people, artistic people, and business oriented people. Recognizing their particular interests as suggested by some of these videos and knowing what the alternatives choices are, I can negotiate with them all to collaborate and complete projects with more success.
