0
By: Jeff Hopkins
Owner at BlogSharkTank.com
Season 5
Issue 4
Blog Shark Tank presents:
• Types of Conflicts
• Positives of Conflicts
• Positional Bargaining
• Barriers to Effective Negotiation
• Dirty Negotiat...
Understanding the type of conflict you
are involved in is important because it
helps define the approach and method
you ne...
• Both parties want different things that are mutually exclusive
Mutually Exclusive Differences
• Both parties want the sa...
Surfaces
differences
Encourages
thinking &
diversity
Explores
options
Builds
solutions
Improves
relationships
(hopefully)
...
Participants are
friends seeking
agreement, avoi
ding a
contest, and
yielding to
pressure
Soft
Participants are
opponents
...
Competition Greed Lack of Trust
Poor
Communication
Time Constraints
Getting “even”
at the other
party
Self-interest Disres...
These dirty
tricks can
ruin the
quality of
any
negotiation.
Rushing time Adjusting room
temperatures
Saying phony
facts
Re...
There are many different levels of power and influence.
The Sharks possess what is called Reward Power.
Check it out…
• When others
believe you have
knowledge that
they don’t have
Expert
Power
• When others
believe you have
the power to
inf...
Because the Sharks possess
Reward Power, they have
leverage in the negotiation.
Your job, as the one seeking an
investment...
• Choosing the Right Shark as a Partner
Follow Us:
Google Plus: +BlogSharkTank
Twitter: @BlogSharkTank
Follow Me:
Google Plus: +JeffHopkins
Twitter: @BusinessShar...
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Negotiating like a shark part two

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Life is full of negotiations, and so is the Shark Tank. Entrepreneurs and small business owners present their products to the Sharks and have to negotiate a fair dollar amount in exchange for a stake in their company. The Sharks are seasoned entrepreneurs themselves who are well trained in negotiating to win. This presentation will help educate all those entrepreneurs and teach them the language and art of negotiating. This presentation is part of the Shark Tank Class series as seen on Blog Shark Tank (http://www.blogsharktank.com).

Published in: Business, Technology
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Transcript of "Negotiating like a shark part two"

  1. 1. By: Jeff Hopkins Owner at BlogSharkTank.com Season 5 Issue 4 Blog Shark Tank presents:
  2. 2. • Types of Conflicts • Positives of Conflicts • Positional Bargaining • Barriers to Effective Negotiation • Dirty Negotiation Tricks • Power and Influence
  3. 3. Understanding the type of conflict you are involved in is important because it helps define the approach and method you need to use in the conflict or negotiation
  4. 4. • Both parties want different things that are mutually exclusive Mutually Exclusive Differences • Both parties want the same thing, but can’t both have it Distributive Differences • Both parties want the same thing, but they don’t agree on how to get it Pathway Differences • Both parties disagree on whether a certain thing is right or wrong Value Differences
  5. 5. Surfaces differences Encourages thinking & diversity Explores options Builds solutions Improves relationships (hopefully) Leads to best result (hopefully)
  6. 6. Participants are friends seeking agreement, avoi ding a contest, and yielding to pressure Soft Participants are opponents seeking victory, trying to win, and applying pressure Hard People bargain or negotiate for two key reasons…
  7. 7. Competition Greed Lack of Trust Poor Communication Time Constraints Getting “even” at the other party Self-interest Disrespect Arrogance
  8. 8. These dirty tricks can ruin the quality of any negotiation. Rushing time Adjusting room temperatures Saying phony facts Refusing to negotiate
  9. 9. There are many different levels of power and influence. The Sharks possess what is called Reward Power. Check it out…
  10. 10. • When others believe you have knowledge that they don’t have Expert Power • When others believe you have the power to influence them because of your position or status Legitimate Power • When others believe you have the power to carry out threats Coercive Power • When others believe you have the ability to give them something they need or want Reward Power • When others believe you will like them, and therefore want to please you Referent Power • When others believe you represent a group with common beliefs Group Power
  11. 11. Because the Sharks possess Reward Power, they have leverage in the negotiation. Your job, as the one seeking an investment, is to make them want to invest in you and your business. In other words, if you are begging for an investment, they hold all the cards. But if you make them want to partner with you, they relinquish some of those cards and give them to you.
  12. 12. • Choosing the Right Shark as a Partner
  13. 13. Follow Us: Google Plus: +BlogSharkTank Twitter: @BlogSharkTank Follow Me: Google Plus: +JeffHopkins Twitter: @BusinessShark2
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