Pitching Ideas, Closing Deals and Negotiating Skills
Elaine RumbollDirector and Chief Deal Pitcher for the Executive Education Unit, University of
Cape Town Graduate School of Business
PITCHING IDEAS
Nothing Sells Like Conviction, Passion and a Track Record
of Success
STICKY IDEAS
SIMPLE
UNEXPECTED
CONCRETE
CREDIBLE
EMOTION
STORY
Simplicity
Unexpectedness
Concreteness
Credibility
Emotional
Stories
Sticky Ideas= stripping
= understanding/remembering
= capture attention
= believing
= caring about your idea
= Inspire Action
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)
NEGOTIATION SKILLS
Negotiations Interests/Needs vs Positions Options Relationship
Needs vs Positions
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)
Know your BATNA
BEST ALTERNATIVE TO A NEGOTIATED SETTLEMENT Sets a Values threshold Know your INTERESTS Know the other party’s interests Know who you are negotiating with Know your options Know your best alternative
Be Comfortable with Walking Away Trust me – if you’re not happy now, you’ll
be even unhappier later Deals do NOT get Better than the
Negotiation Honeymoon
The Fruits of a bad Negotiation
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)
Magic Phrases for Negotiating Effectively (Glatzer, 2003)
1. "That sounds a little low."
"To make it worth my time, I would need..."
"Considering the amount of research required, can we agree to..."
2. "I'm expecting more for this piece."
"Can we work on that?"
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
CLOSING DEALS
GET IT IN WRITING AS SOON AS POSSIBLE
OTHERWISE YOU LEAVE YOURSELF OPEN TO…
Second Thoughts Better Offers Unforeseen Circumstances
COMPLETE THIS CYCLE AS SOON AS POSSIBLE
Expression of Interest Verbal Commitment Written Agreement
Update Clients with
Successful Developments Media Attention Awards Other Large Contracts
The Most Important Part of all 3
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