October 2010, Giri Devanur

Negotiation skills for start-up

Every thing needs to be negotiated if you are creating your new start up. Large number of people think that start-ups have very little or no negotiation room. But that is sooooo wrong.

Here are some tips for a start-up to negotiate successfully.

1. Always carry a senior enough title like a Vice President or COO etc. This helps in setting the right plat form.

2. Make sure that you are dressed right to go into a negotiation (Be it with a client, vendor or a an investor).

3. For a start-up even hiring a key employee is all about negotiation. It may be salary or perks or stock options.

4. Never under estimate the other personâ€™s ability. He may be smarter. And may be trained to negotiate smarter.

5. Be Nice but Firm!!

6. Keep your body language right. (There are enough materials available on this topic) Ex: BodyLanguage

7. Always keep in mind that itâ€™s a transaction and the other party also wants something out of this. You are not the only interested party.

8. Finally, be ready to walk away if the other party is not reasonable. This confidence helps you to over come if this transaction fails.

You win some and you lose someâ€¦.Keep it cool🙂