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Negotiations - Entrepreneurship 101

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This lecture delivers ideas and tips for entrepreneurs to be more effective negotiators. It will explain the steps of negotiation and how to efficiently resolve conflict and build ongoing relationships.

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Negotiations - Entrepreneurship 101

  1. 1. NEGOTIATIONS Strategy and tactics for the real world Ted Maduri and Andrew Lord, Davis LLP
  2. 2. AGENDA •  Negotiation theory •  Negotiation strategy •  tips •  practical examples •  Negotiation tactics •  tips •  practical examples •  Top Tips (to print out and put beside your bed)
  3. 3. NEGOTIATION THEORY
  4. 4. Fundamentals
  5. 5. NEGOTIATION STRATEGY
  6. 6. “That’s  the  difference  between  you   and  me:  you  want  to  lose  small,  I   want  to  win  big.”  
  7. 7. “The  game  is  out  there.     You  either  play     or  get  played.”  
  8. 8. Doing   your     homework  
  9. 9. Preparing   your  team  
  10. 10. Developing  other  opCons  
  11. 11. NEGOTIATION TACTICS
  12. 12. CreaCng   deal   tension  
  13. 13. Using  Cme  to  your   advantage  
  14. 14. Being  the   aggressor  
  15. 15. Chipping  away  
  16. 16. Bundling     issues  
  17. 17. Appealing  to     higher  authoriCes  
  18. 18. Dividing     and   conquering  
  19. 19. Breaking   deadlocks  
  20. 20. Pressing  the   big  red  buIon  
  21. 21. Top Fourteen Tips Strategy 1.  Determine your goals (e.g., short vs long term) 2.  Know the rules of the game 3.  Do your homework 4.  Prepare your team 5.  Make sure you have a Plan B Tactics 6.  Creating tension 7.  Using time to your advantage 8.  Being the aggressor 9.  Chipping away 10. Bundling issues 11. Appealing to higher authorities 12. Dividing and conquering 13. Breaking deadlocks 14. Pressing the big red button
  22. 22. THANK YOU! Ted Maduri Partner, Toronto 416.941.5412 tmaduri@davis.ca Follow us @DavisLLP @tedmaduri This presentation is intended to provide general comments on developments in the law. It is not intended to be a comprehensive review nor is it intended to provide legal advice. You should not act on information in the presentation without first seeking specific advice on a particular matter. Andrew Lord Partner, Toronto 416.369.5264 alord@davis.ca
  23. 23. Attribution •  “That’s the difference…” and image, Suits •  “The game is out there…”, The Wire •  “Getting To Yes” image: cover of Getting to Yes: How To Negotiate Agreement Without Giving In (Fischer, Ury and Patton) •  Other images obtained under creative commons licenses from https://unsplash.com/, http://www.lifeofpix.com/, http://deathtothestockphoto.com/, https://stocksnap.io/, http://www.freestockphotos.biz/ , http://commons.wikipedia.org/ (user:Yarl)

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