Let's Make a Deal!

Negotiation and Deal Making Part 1.

Everybody wants to be a winner, but sometimes it takes a little compromising.  It’s not always easy to get what you want, but sometimes you have to ask yourself, “What is it going to take?”  Sometimes it just takes some negotiation and deal making.  Believe it or not, you are a negotiator and have been all your life.  Whether if it was bargaining with your friends as a child for a candy trade or compromising with your mother as a sixteen year old to take the car out for the evening.  Like it or not, you are a negotiator.  Think about it.  Haggling price with a car salesman, discussing a raise with your boss, and even discussing the cost of an item with the cashier at your local retail store, makes you a negotiator.  With negotiation and deal making being such a critical part of getting what you want from others, how do we get better at it? 

In today’s entertainment industry deals are made everyday. For this blog I decided to interview a professional who is actively working in the entertainment and media industry in a deal-making capacity.  Please let me introduce you to Donna Baxter.  Donna M. Baxter is the CEO and WebMistress of Soul Pitt Media, an African American Internet marketing and graphic design firm based in Pittsburgh, PA. Founded in 2000, this award-winning company helps individuals, businesses, and corporations reach African American consumers through online advertising, print and radio.  Former rap artist turned Internet Tech Diva, Donna Baxter has gone from “Rhymer to Digital Designer”. This “Cool Nerd” explains technology in ways you’ve never heard all while making it easy to understand, funny, and entertaining and leaving audiences motivated to “Get Online or Get Left Behind!”  Donna was recently elected as the President of the National Women’s Business OwnersAssociation.  Find out more about her at www.donnambaxter.com. 

I asked Donna a few questions about negotiating and this is what she had to say.

Ron:  Can you give me an example of how you worked toward a mutual benefit when you were negotiating a deal?

Donna:  Doing some “give and take” works.  You have to throw something in that would be valuable to them, but not cost you a lot.

Ron:  When does it make sense not to negotiate?

Donna:  Where you don’t benefit.  Sometimes stuff is just bad business.  It may be a conflict of interest.  I won’t negotiate when the result hurts one of my clients.  Especially when a potential client is a competitor of an existing client.

Ron:  How do I enhance my negotiating power?

Donna:  Try negotiating more throughout the day.  Commission sales experience helps.  You really learn some things doing that.

Ron:  Have you come across any “dirty tricks” others have used while negotiating?

Donna:  Yes, when someone gets me in a comfortable setting and sounds good, but vague, then when it is time to get down to business, it was really a facade to get me to the table, just to talk to me about some nonsense.

Ron:  Do you find yourself in more deals that you are negotiating the position or the underlying interests? 

Donna:  In sales, I’m usually negotiating the position.  You have to add value to the sale without much expense to yourself.  Find the value and make them see it.

Donna closed by saying, “When dealing with negotiations, have confidence with your own value.  Go in with confidence.  Deal with the issue and know your value.  Have them see the value."