Compromise is touted as a tactic that is a normal part of the negotiation process. It’s a “negotiation-saver.” When you reach an impasse, it’s as simple as compromise, and the deal is done. But it couldn’t be further from the truth. Allan Tsang shares his thoughts on the topic in an episode of Negotiations Ninja. Myth: Any deal is better than no deal Let’s say you want to sell a widget at $100. Your cost of goods is…
Jeb Blount Prepares for a High-Stakes Negotiation with These 3 Rules
In a special episode swap with the Sales Reinvented podcast, Jeb Blount points out that if you don’t know how to negotiate, you won’t make a profit. You’ll just be giving things away. Jeb wrote his book “Inked” as a sales negotiation book. If you don’t negotiate well, you’re essentially giving away your paycheck and company profit. How does Jeb Blount prepare for a high-stakes negotiation? Jeb embraces a few rules as part of his…
“Just Imagine” = “Once Upon a Time” For Adults
Phil Jones has been an entrepreneur since childhood. By the age of 15, he was earning more money than his teachers. He side-stepped going to university and had a successful corporate career in sales leadership. He started a small sales training business that has since grown so that he mostly speaks around the world for a living. He’s spoken in 59 different countries on five different continents, helped over 800 different industries, written seven best-selling…
Managing Multiparty Negotiations
Multiparty negotiations will most likely be some of the most difficult negotiations you’ll face in your career. Managing expectations of multiple parties can be overwhelming. Finding a solution that makes everyone—or most everyone—happy is even harder. In a recent episode of the Negotiations Ninja podcast, Mihai Isman shared how he manages multiparty negotiations. If you keep these things in mind before you even begin the process, the chances of success rise exponentially. What is often…
How to Negotiate with a Venture Capitalist
When choosing between different venture funds, how do you negotiate if there’s a gap? What if you like one over the other, but they’re offering far less? In a recent episode of Negotiations Ninja, Tim Schigel pointed out that it depends on the gap and the other terms being negotiated. If the terms are the same—but there’s a 20% gap in the value—have a transparent good-faith conversation. It’s your fiduciary duty to take a good and fair…