negotiation for entrepreneurs

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Negotiation & Conflict Resolution The Plugged-In Manager ThePluggedInManager.com TerriGriffith

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Three hour workshop on the basics of negotiation in an entrepreneurial environment. Focus on stakeholder analysis and preparation for problem solving.

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Page 1: Negotiation for Entrepreneurs

Negotiation & Conflict Resolution

The Plugged-In Manager

ThePluggedInManager.com

TerriGriffith

Page 2: Negotiation for Entrepreneurs

Conflict ManagementBroad Definition…. Broad Use….

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Worksheet

“Describe your last negotiation in outline form”

What were the key aspects of the negotiation?

Page 4: Negotiation for Entrepreneurs

Developing a Language

Page 5: Negotiation for Entrepreneurs

Haggle

Page 6: Negotiation for Entrepreneurs

Sides of the table…

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Negotiation: Deciding what resources parties each will give

and take in an exchange

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Page 9: Negotiation for Entrepreneurs

Plan Your DiveDive Your Plan

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Preparation Leads to Better Deals

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New Hire1. Familiarize yourself with your role & the

situation (5 min)2. Decide what you would like to accomplish

(pick a goal - 2 min) 3. Decide how you would like to accomplish it

(brainstorm tactics - 3 min)4. Agreement on all issues, or impasse5. Negotiate Outside of Room6. Record Outcomes on Board

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Types of IssuesDistributive

Different Preferences

Same Values

Congruent

Same Preferences

Integrative

Different Preferences

Different Values

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http://www.flickr.com/photos/toffehoff/244870162

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Strategies

What I Want

What the Other Party Wants

Compete

Accommodate

Avoid

Compromise

Collaborate/Integrate

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IntegrationBonus Vacation Pts

Compromise 6% 15 days

Recruiter 800 2000 2800

New Hire 2000 800 2800

Integrate 10% 5 days

Recruiter 0 4000 4000

New Hire 4000 0 4000

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Page 20: Negotiation for Entrepreneurs

Worksheet

5. __________ only gets you ______ of what you want.

6. __________ issues are where ____________.

7. __________ issues are where ___________.

8. __________ issues are where ___________.

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Two Tasks

1. Getting Information– Not just positions– Underlying preferences, priorities

2. Using Information– Not just tug of war– Identifying/creating value

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Information Sharing

Ask questions – but why should they tell you?

Give information – reciprocity

Find superordinate goals – super congruent issues

Make offers - packaging

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Page 24: Negotiation for Entrepreneurs

Creating Value by…

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Not what people want, but why they want it

… and finding ways to address underlying preferences/priorities that satisfy your own

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Worksheet

9. Not what people want, but ___________.

10. _____________ & _____________ are two methods of creating more value in the

negotiation.

Page 27: Negotiation for Entrepreneurs

Worksheet

1. Preparation for negotiation is trivial or involved?

2. What three kinds of information do you need to brainstorm about before your first meeting about a negotiation?

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Best

Alternative to

The

Negotiated

Agreement

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Why do you need to know your BATNA?

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PreparationStakeholder1 Stakeholder2 Stakeholder3 Stakeholdr4

Issue 1

Outcome 1

Outcome 2

Outcome 3

Issue 2

Outcome 1

Outcome 2

Outcome 3

Issue 2

Outcome 1

Outcome 2

Outcome 3

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Worksheet

3. When you have time, what is the agenda for your first negotiation meeting?

4. Describe at least two tactics for gathering information from the stakeholders to a negotiation:

Page 32: Negotiation for Entrepreneurs

Term Sheet

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Be Strategic In Your Preparation

• What’s your BATNA?• What’s the other party’s BATNA?• What are the issues & outcomes?• What are the other party’s issues &

outcomes?• How are the outcomes valued?• Strategies and techniques you can apply?

Page 34: Negotiation for Entrepreneurs

No More Runway

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Page 36: Negotiation for Entrepreneurs

Negotiation…It’s not just for deals:

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Organizational Change “Negotiated Change”

Meeting Agendas

Social Situations

Social Media Use Decisions

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You Have to Ask

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You Have To Understand Other

Party’s Needs

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Q&A