Pitching Ideas, Closing Deals And Negotiation Skills

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A presentation on how to get that deal. Specifically for artists.

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1. Pitching Ideas, Closing Deals and Negotiating Skills Elaine Rumboll Director and Chief Deal Pitcher for the Executive Education Unit, University of Cape Town Graduate School of Business 2. PITCHING IDEAS 3. 4. Nothing Sells Like Conviction, Passion and a Track Record of Success 5. 6. 7. STICKY IDEAS 8. 9. SIMPLE 10. UNEXPECTED 11. CONCRETE 12. CREDIBLE 13. EMOTION 14. STORY 15. Simplicity Unexpectedness Concreteness Credibility Emotional Stories Sticky Ideas = stripping = understanding/remembering = capture attention = believing = caring about your idea = Inspire Action 16. 17. 18. Making Ideas Stick Simple : Proverbs, ideas simple and profound Unexpected : Interest and curiosity Concrete : Ideas have the same meaning to everyone Credible : Audience "tests" an idea, and confirms it credible Emotional : Make the audience feel something - we are wired to feel, not for abstractions Stories : Far greater recall than ponderous pontifications (Heath & Heath, 2007) 19. NEGOTIATION SKILLS 20. Negotiations Interests/Needs vs Positions Options Relationship 21. Needs vs Positions 22. To Create Value in a Negotiation At the table: 1. Explore interests of all sides 2. Generate options & packages that increase the pie 3. Suspend criticism 4. Invent options without committing (brainstorming) 5. Build relationships (Prof. B Jordaan, 2007) 23. Know your BATNA 24. BEST ALTERNATIVE TO A NEGOTIATED SETTLEMENT Sets a Values threshold Know your INTERESTS Know the other partys interests Know who you are negotiating with Know your options Know your best alternative 25. 26. Be Comfortable with Walking Away Trust me if youre not happy now, youll be even unhappier later Deals do NOT get Better than the Negotiation Honeymoon 27. The Fruits of a bad Negotiation 28. Building Relationships Keep the other person whole If people trust you, they will want to work with you and will give you the deal you want If you are perceived as sincere, the relationship will be healthier and more beneficial to you. Nina Wanendeya (Chief Negotiator, Johnson & Johnson) 29. 30. Magic Phrases for Negotiating Effectively (Glatzer, 2003) 31. 1. "That sounds a little low." 32. "To make it worth my time, I would need..." 33. "Considering the amount of research required, can we agree to..." 34. 2. "I'm expecting more for this piece." 35. "Can we work on that?" 36. Golden Rules DO NOT NEGOTIATE OVER E MAIL ONLY NEGOTIATE FACE TO FACE IF IT HAS TO BE THROUGH ANOTHER MEDIUM FOLLOW UP WITH A PHONECALL SELL THE BENEFIT NOT THE PRICE DO NOT GET EMOTIONAL 37. CLOSING DEALS 38. GET IT IN WRITING AS SOON AS POSSIBLE OTHERWISE YOU LEAVE YOURSELF OPEN TO 39. Second Thoughts Better Offers Unforeseen Circumstances 40. COMPLETE THIS CYCLE AS SOON AS POSSIBLE Expression of Interest Verbal Commitment Written Agreement 41. Update Clients with Successful Developments Media Attention Awards Other Large Contracts 42. The Most Important Part of all 3 43.