Antwain Booth is an entrepreneur in
the entertainment and media industry. In 2005, he started in real estate with
investors in Greensboro, North Carolina. In mid 2007, he ventured off into the
entertainment and media industry in Raleigh, North Carolina. What started as a
way to market real estate activity evolved into his own promotional, marketing,
media, event and entertainment company. For more information about Antwain Booth
and his company BWI visit http://bwinvests.tk/about .
I was
fortunate enough to be able to talk to Antwain Booth and he shared with me some
insights in business and negotiating. The following is the interview that was
conducted.
How do
you separate the people from the problem when you are negotiating?
Booth: I never take it personal; I always
look at the context of the negotiation, and where it should end up to most
benefit my favor. There is a competitive advantage in that I do have a chip on
my shoulder honestly that helps me narrow down on what I need to do in order to
get the best situation out of the deal. So there is that element that helps me
get to beyond the person I'm talking to and to get to the point where I deem
the negotiation best for my side.
How do
you handle positional bargaining tactics?
I'm not too big on being fixed in bargaining
in negotiations. I do know what "sweet spot" I need to get to in
order to make an effective deal for my side. So my goal is to get there. But I
aim to show that I'm flexible without being too flexible. As if I'm doing them
the favor.
Can you
give me an example of how you worked toward mutual benefit when you were
negotiating a deal?
I had a clothing company client who wanted a
website to launch on New Years Eve. This was going to be pretty hard to pull
off because we had 10 days plus the holidays. I knew that there was going to be
some overlay on the final design versus being able to have my partner get it
completely done before then. This was based on several factors, namely the
clients' lack of preparedness in their business. So I worked a solution to
where we would limit the site launch on that date with a limited roll out of
the site, focusing on a few items of merchandise, a video, some pictures and a
sign-up sheet. This was mutually beneficial to both parties. We didn't have to
have a hectic holiday season and it allowed them more time to plan for the
sites use.
Describe
how you use objective criteria in negotiations.
I always try to gain as much
information about the other side and their needs as much as possible. Not too
much to seem like a robot. But the key areas where they might try to pivot off
of to improve their negotiating position. It's always good to know intricate
details that will show your knowledge (like a new campaign just launched). But
then of course industry trends, current market deals, your own competition,
etc. are all good info to know. It lends credibility to my negotiation point.
Can you
offer any other advice on negotiating and doing business?
Plan for flexibility.
Things will not always go to plan. So have a back up or be prepared to think on
your feet. Try to identify with something on the other people you are
negotiating with to break the ice. A sports team if they are wearing the shirt
or have something like that on their desk, anything you can initially connect
to. It's always a good in.
Thank you so much Antwain
Booth!
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