Babson Professor Michael Gordon: "Entrepreneurs Must Be Superlative Negotiators"
Babson Professor Michael Gordon, author of Entrepreneurship 101: How to turn your idea into a money machine,used his experience in bringing this book to market , to demonstrate the power that entrepreneurial passion brings to the negotiating table.
The event was the Babson College/Wellesley Bank Business Series at the Wellesley Chamber's Networking Before 9 breakfast held here at Babson.
Gordon described how his unstoppable passion to write this book, kept him ahead of his competitor authors. Its publication became the single focus of his existence…and helped him during negotiations of the final contract agreement.
“Great entrepreneurs are superlative negotiators,” says Gordon, “You need to know yourself and what points are most important to you…but you must also listen to really understand what's essential to the other party, then you will both end up on the same team.”
Five Phases of Negotiation:
1. Establish vision.
2. Plan to succeed.
3. Winning language and techniques.
4. Unblock stalemates.
And when all else fails?—Figure out who has the power,then do what you need to do to improve the power balance.
“It's simple,” says Gordon: