Pitching Ideas Negotiation Skills And Closing Deals

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    Pitching Ideas Negotiation Skills And Closing Deals - Presentation Transcript

    1. Pitching Ideas, Negotiating and Closing Deals Elaine Rumboll Director and Chief Deal Pitcher for the Executive Education Unit, University of Cape Town Graduate School of Business 10 November 2008
    2. PITCHING IDEAS
    3. Take-outs
      • Suspend Judgement
      • Craft a Sticky Idea
      • Deliver your Message with Conviction
    4. Credit: Ian Falconer (2001): Olivia saves the Circus.
    5. http://the-definition.deviantart.com/art/Eye-Story-17716419 KILL THE CRITIC IN YOUR HEAD
    6.  
      • Nothing Sells Like Conviction, Passion and a Track Record
      • of Success
    7.  
    8.  
      • Understand what’s important to the client – CLIENT INSIGHT
      • Be sure that your VALUE PROPOSITION fits with their needs
      • Demonstrate FLEXIBILITY
      Before Pitching Check:
    9. http://i42.photobucket.com/albums/e329/petros42/Borat-VeryNice.jpg
    10. GETTING STICKY
    11.  
    12. SIMPLE What is your core message? E.g. South West Airline – Be the low cost Airline.
    13. UNEXPECTED
    14. Do you have tangible examples? E.g. apple with razors CONCRETE
    15. CREDIBLE Why would people believe you?
    16. EMOTION We are wired to feel
    17. STORY Mobilises us to act
    18. Simplicity Unexpectedness Concreteness Credibility Emotional Stories Sticky Ideas = SUCCESs = stripping = understanding/remembering = capture attention = believing = caring about your idea = Inspire Action
    19. In sum
      • Simplicity—finding the core of the idea
      • • Unexpectedness—grabbing people’s
      • attention by surprising them
      • • Concreteness—making sure an idea
      • can be grasped and remembered later
      • • Credibility—giving an idea believability
      • • Emotion—helping people see the importance
      • of an idea
      • • Stories—empowering people to use
      • an idea through narrative
    20. The Best Listeners are the Best Salespeople
      • Listen with profound respect and attention
      • No interruptions
      • People do their own best thinking
      • Silence is a great opportunity for the thinker to think deeper
      • Is there anything more?
      • 10 slides/20 minutes/30pt font rule
      • Tell your own story
      • Structure your talk – peak end effect
      • No more than 3 points
      Practical Tips for Pitching
    21. PREPARATION
      • If I'm to speak ten minutes, I need a week for preparation; if fifteen minutes, three days; if half an hour, two days; if an hour, I am ready now" - Woodrow Wilson
    22.  
    23. NEGOTIATING
    24. Negotiations
      • Interests/Needs vs. Positions
      • Options
      • Relationship
    25. Needs vs. Positions
    26. Pakistani Prunes
    27. To Create Value in a Negotiation
      • At the table:
      • 1. Explore interests of all sides
      • 2. Generate options & packages that “increase the pie”
      • 3. Suspend criticism
      • 4. Invent options without committing (brainstorming)
      • 5. Build relationships
      • (Prof. B Jordaan, 2007)
    28. Know your BATNA
    29. BEST ALTERNATIVE TO A NEGOTIATED SETTLEMENT
      • Sets a Values threshold
      • Know your INTERESTS
      • Know the other party’s interests
      • Know who you are negotiating
      • with
      • Know your options
      • Know your best alternative
    30.  
      • Be Comfortable with Walking Away
      • Trust me – if you’re not happy now, you’ll be even unhappier later
      • Deals do NOT get Better than the Negotiation Honeymoon
    31. The Fruits of a Bad Negotiation
    32. Building Relationships
      • Keep the other person whole
      • If people trust you, they will want to work with you and will give you the deal you want
      • If you are perceived as sincere, the relationship will be healthier and more beneficial to you.
      • Nina Wanendeya (Chief Negotiator, Johnson & Johnson)
    33.  
    34. Magic Phrases for Negotiating Effectively (Glatzer, 2003)
    35. 1. "That sounds a little low."
    36. "To make it worth my time, I would need..."
    37. "Considering the amount of preparation required, can we agree to..."
    38. 2. "I'm expecting more for this piece."
    39. "Can we work on that?"
    40. Golden Rules
      • DO NOT NEGOTIATE OVER E MAIL
      • ONLY NEGOTIATE FACE TO FACE
      • IF IT HAS TO BE THROUGH ANOTHER MEDIUM FOLLOW UP WITH A PHONECALL
      • SELL THE BENEFIT NOT THE PRICE
      • DO NOT GET EMOTIONAL
    41. CLOSING DEALS
    42. . WHO ARE THE PLAYERS IN YOUR FIELD THAT YOU NEED TO CONVINCE AND GET BEHIND YOUR IDEA? STRATEGIC NETWORK ANALYSIS
    43. PLOTTING A STRATEGIC NETWORK ANALYSIS
      • Hubs are people who have many direct ties with people. They know everyone.
      • Gatekeepers are connected to few but strategically positioned, ‘right’ people.
      • Pulse takers are connected to people indirectly; the friend of a friend type of link. They know the people who know the right people.
      • GET IT IN WRITING AS SOON AS POSSIBLE
      • OTHERWISE YOU LEAVE YOURSELF OPEN TO…
      ENSURING THE DEAL STICKS
      • Second Thoughts
      • Better Offers
      • Unforeseen Circumstances
    44. COMPLETE THIS CYCLE AS SOON AS POSSIBLE
      • Expression of Interest
      • Verbal Commitment
      • Written Agreement
    45. Update Clients with
      • Successful Developments
      • Media Attention
      • Awards
      • Other Large Contracts
    46. The Most Important Part of all
    47.  
    48. http://p-dudko.deviantart.com/art/Epiphany-63923648 INSIGHT USE UNCLEAR

    + Elaine  RumbollElaine Rumboll, 2 years ago

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