Tuesday, April 19, 2011

Negotiations & Deal Making: Seal the Deal

This assignment allowed me to explore my inner negotiator by discussing a time when I had to work out a deal.  For me, negotiating is a part of everyday life, but it is completely different when it comes to business.  As a publicist, the network of professionals that I have established  prove to be very beneficial to my success.  Due to the relationships that I have built, I was able to find a last minute venue for my annual nonprofit event and work out a great rate.  The venue owner agreed to my terms of donating 75% of the fee, in exchange for advertising and inclusion on marketing collateral.  Utilizing a few negotiating techniques such as:
  • Preparation: I researched the area and comparable deals offered by other venues, this gave me more bargaining power
  • Timing:  Since the salon recently opened, they were looking for ways to get their name out
  • Humility:  Although the owner was new to the industry, I didn't take advantage of her by name dropping or making her feel inferior
“Thinking about something leads to confusion, but thinking through something leads to clarity.”    

Speaking with CBS about event :: courtesy of Studio B Photography


This remains to be completely true in the world of communication.  During negotiations I often find myself speaking off the top of my head, but when I really focus on a solution and analyze possible outcomes, everything works out for the best.  

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