Entrepreneurship 101:  Negotiations
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Entrepreneurship 101: Negotiations

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Part of the MaRS Entrepreneurship 101 Event Series...

Part of the MaRS Entrepreneurship 101 Event Series
"It's Negotiable" -- Michael will discuss the art of effective negotiation; how to build lasting agreements without becoming either a bully or a wimp. Case studies will focus on issues situations most entrepreneurs will face: research projects, starting a business venture, obtaining investors and licensing a product or invention.
Download the audio presentation and post questions on the MaRS blog:
http://blog.marsdd.com/2006/11/08/entrepreneurship-101-negotiations/

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Transcript

  • 1. It’s Negotiable: A Guide for Entrepreneurs Michael Erdle, Managing Partner
  • 2. Introduction
    • Negotiation Problems and Opportunities
    • Negotiation Case Studies
      • Research Collaborations
      • Business Partnerships
      • Technology Licensing
    • Dispute Resolution
  • 3. What is Negotiation?
    • Everything is negotiated.
      • Family and personal
        • “ Where should we go for lunch?”
        • “ Can I borrow the car?”
      • Academic research
        • “ Fund my project.”
        • “ Publish my paper.”
      • Business ventures
        • “ I want a raise.”
        • “ Invest in my company.”
        • “ Pay me a license fee or I’ll sue you.”
  • 4. Negotiation Goals
    • Distributing Value vs. Creating Value
      • Opportunistic
      • Problem-solving
    • Identify Issues
    • Consider Interests
      • Mutual
      • Complementary
      • Conflicting
  • 5. Negotiation Styles
    • Assertiveness vs. Empathy
    • Three common negotiation styles:
      • Competitive
      • Accommodating
      • Avoidance
    • Effective negotiator is both assertive and empathetic.
  • 6. Effective Negotiation
    • Interests vs. Positions
      • “ Needs” vs. “wants”
    • “ Separate the Person from the Problem.”
      • Soft on the person
      • Hard on the problem
    • Consider other Options
  • 7. Negotiation
    • Use Objective Alternatives
    • Look for a “win-win” solution
    • Determine BATNA
      • Best Alternative to Negotiated Agreement
  • 8. Negotiation Traps
    • Classic “Hard Bargaining” Ploys
      • Extreme claims, small concessions
      • “ Take or leave it.”
      • Unreciprocated offers
      • Threats and warnings
      • Attacking the alternatives
      • Good cop, bad cop
  • 9. Ways to Respond
    • Extreme claims, small concessions
      • Tit for Tat – make equally small concessions
    • “ Take or leave it.”
      • Make a counter offer
      • Offer an alternative
      • Don’t be afraid to walk away.
  • 10. Ways to Respond
    • Unreciprocated offers
      • Don’t negotiate against yourself.
      • Wait for a counter offer.
    • Threats and warnings
      • Don’t make a counter-treat.
      • Challenge the underlying assumptions .
  • 11. Ways to Respond
    • Attacking the alternatives
      • Ask for an explanation.
      • “ Why do you have a problem with…?”
    • Good cop, bad cop
      • Negotiate with the boss.
      • Use the “good cop” to your advantage.
  • 12. Case Studies
    • Research Projects
    • Business Partnerships
    • Technology Licensing
  • 13. Research Projects
    • Academic Interests
      • Publication
      • Collaboration
      • Increase knowledge
      • Obtain funding
    • Commercial Interests
      • Confidentiality
      • Exclusivity
      • Develop product
      • Generate revenue and profits
  • 14. Business Partnerships
    • “ Senior” partner
      • Expand the business
      • Maintain reputation
      • Short-term focus
    • “ Junior” partner
      • Expand the business
      • Build reputation
      • Long-term focus
  • 15. Technology Licensing
    • Licensor
      • Access to markets
      • Guaranteed revenue
      • Minimum continuing obligations
      • Low risk
    • Licensee
      • Access to technology
      • Low up-front cost
      • Guaranteed continuing support
      • Low risk
  • 16. Negotiation Skills
    • Listening
      • Develop “active listening”.
    • Understanding
      • Understand the other person’s perspective.
    • Flexibility
      • Be open to other options.
    • Pragmatism
      • Be ready to accept the best available option.
  • 17. Dispute Resolution Arbitration or Litigation Mediation Negotiation
  • 18. Mediation
    • Interest-based Mediation
      • Mediator is a facilitator
      • Focus on interests, not legal rights or obligations
      • Options for creative solutions
    • Evaluative Mediation
      • Neutral evaluation
      • Based on legal rights & obligations
  • 19. Mediation
    • Qualities of a successful mediator
      • Negotiation & mediation process skills
      • Subject area knowledge
      • Lets parties make key decisions
      • Creative approach to the problem
      • Patience
  • 20. Resources
    • Cohen: You Can Negotiate Anything , Bantam, 1980
    • Fischer, Ury and Patton: Getting to Yes , Penguin, 1991
    • Ury: Getting Past No , Bantam, 1993
    • Mnookin, Peppet and Tulumello: Beyond Winning , Harvard University Press, 2000
  • 21. Questions?