Business Negotiation January 04, 2017

Negotiation = Entrepreneurship?

Do you have to be a negotiator to be an entrepreneur or do you have to be an entrepreneur to be a negotiator? There is synergy between these two roles. Merriam-Webster defines an entrepreneur as “one who organizes, manages, and assumes the risks of a business or enterprise...

Do you have to be a negotiator to be an entrepreneur or do you have to be an entrepreneur to be a negotiator?

There is synergy between these two roles. Merriam-Webster defines an entrepreneur as “one who organizes, manages, and assumes the risks of a business or enterprise.” According to Dr. Chester Karrass, good negotiators have a high need for achievement.

To achieve, it could be argued, you have to be ready to take risks. The overlap between an entrepreneur and a negotiator comes down to assuming risk. So, people who do best in negotiations are hungry for success, and are willing to take a risk to reach that success. Ditto for entrepreneurs.

It is not really surprising that good negotiators are entrepreneurial, because what they are doing is putting themselves out there in a bid to succeed. So, you don’t have to an entrepreneur to be a negotiator, but you must be entrepreneurial.

According to Lyve Alexis Pleshette, writing in the PowerHomeBizcom website, there are five skills every entrepreneur needs:

1. Sales and marketing skills
2. Financial knowledge
3. Ability to self-motivate
4. Time management skills
5. Administration skills

To those very necessary skills, we would add negotiation skills. Entrepreneurs will not succeed in getting their businesses off the ground if they don’t negotiate for what they want.

Conversely, perhaps learning the skills of negotiation also increases your entrepreneurial spirit. As you become a more confident negotiator, you will also become more able to identify what you want and how to get it.

 
General Negotiation
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Patience really is a virtue

“All you need is a little patience.” We’ve heard that for years, in church sermons, from our teachers, our parents, even from pop songs.

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WHITE PAPER
May 10, 2017

Are there rules for effective negotiations?

According to Anthony Tjan, founder of Cue Ball, a venture equity bill, there are four main rules for effective negotiations.

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WHITE PAPER
May 10, 2017

Negotiations involve change: price increase, scope of work modification, request for discount, union demands, reduction in volume, change supplier, design change, people changes.

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