We’ve asked Leaders in the C-Suite some of their Tips on Negotiation. Hear from Andrew Barge, Chief Business Officer at Buzzer, formerly with Twitter and ESPN. Note: These are some of his tips based on his experience and not meant to be prescriptive or a one-size fits all solution or approach.
- Principles & empathy. Taking time to establish your principles – i.e., the values that drive your goals, your non-negotiables, even the communication dynamics for the deal – helps frame the process upfront in a manner that builds trust with the other side. If things go sideways, go back & reference your principles.
- Building empathy for the other side – i.e., deeply understanding their motivations & sensitivities – is essential in negotiations. You’ll be a more effective communicator, identify asymmetries (e.g., an immaterial point may be hugely important to them), and better represent their needs.
- Remember – Leading a deal doesn’t only mean getting the best terms on behalf of your company; you have to effectively represent your partner’s needs internally to get to the most durable, mutually-beneficial agreement.