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How can you negotiate when both parties have different goals?

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Negotiation is a key skill for venture capitalists, whether they are raising funds, making deals, or exiting investments. But what if you face a situation where both parties have different goals and interests? How can you reach a mutually beneficial outcome without compromising your own value proposition? In this article, we will share some tips and best practices on how to negotiate when both parties have different goals.

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Ajit Nair

From Corporate to Self- A happy journey of searching self expression
Nimit Ramaiya

Venture Builder & Early-stage Investor | Investment Readiness & Relations Advisor | Startup Mentor | Speaker
Mudassir Mustafa

Beyond the hype is a show that I produce to tell the stories of companies that are reshaping our world.

1 Understand their perspective

The first step in any negotiation is to understand the other party's perspective, motivations, and constraints. What are their goals, needs, and priorities? What are their alternatives, risks, and challenges? What are their sources of power, leverage, and influence? By asking open-ended questions, listening actively, and empathizing with their situation, you can gain valuable insights into their mindset and expectations. This will help you identify potential areas of alignment, trade-offs, and value creation.

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Nimit Ramaiya

Venture Builder & Early-stage Investor | Investment Readiness & Relations Advisor | Startup Mentor | Speaker
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As a founder, your aim is growth, while VCs are after returns. Start by finding common ground—often it's aligning growth strategies with ROI. Empathize with your VC, they have a portfolio to manage. Paint a compelling picture of how your venture fits their strategy. It's all about communication, focusing on the win-win. Negotiation isn't just about terms, but building trust. VCs invest in founders, not just ideas. They bet on the founders ability to steer the ship. Stay adaptable, open to feedback, and, remember, compromise doesn't mean weakness; it shows a balanced view of a brighter future. Ultimately, it's a partnership; so, ensure both parties walk away with confidence in the journey ahead.

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Adi Prakash

Americas Professional Services Head of Cross-Industry Strategy & Advisory | Early Stage Venture / Angel Investor | Board Member | Forbes Council Member | Startup Co-Founder | Former CXO
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In VC, when goals clash, it's like a tango. Both parties need to step in sync. Start by genuinely understanding their goals – this insight can be golden. Then, lay your cards on the table. Be clear about what you want. It's not just about the money; it's about building something meaningful together. Look for those win-win opportunities. Maybe there's a creative solution that ticks both boxes. And hey, a bit of compromise never hurt. It shows you're in it for the long haul. Finally, never underestimate the power of a good relationship. It can turn a tough negotiation into a smooth conversation. Approach it as making the pie bigger for everyone, not just getting a bigger slice for yourself.

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2 Communicate your value

The second step in any negotiation is to communicate your own value proposition clearly and confidently. What are your goals, needs, and priorities? What are your alternatives, risks, and challenges? What are your sources of power, leverage, and influence? By articulating your value proposition, you can demonstrate how you can help the other party achieve their goals, solve their problems, or overcome their obstacles. This will help you establish your credibility, trustworthiness, and attractiveness as a partner.

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3 Explore options and scenarios

The third step in any negotiation is to explore various options and scenarios that could satisfy both parties' goals and interests. What are the possible outcomes, terms, and conditions that could work for both sides? What are the pros and cons of each option and scenario? How do they compare to your respective alternatives and best/worst cases? By brainstorming and evaluating different options and scenarios, you can discover creative and innovative solutions that could maximize the value for both parties.

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4 Seek win-win solutions

The fourth step in any negotiation is to seek win-win solutions that could benefit both parties. What are the common goals, interests, and values that you share with the other party? What are the trade-offs that you are willing to make or accept in exchange for something more important or valuable? What are the concessions that you can offer or request that could enhance the deal or relationship? By seeking win-win solutions, you can build rapport, goodwill, and cooperation with the other party.

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5 Negotiate the details

The fifth step in any negotiation is to negotiate the details of the agreement. What are the specific terms, conditions, and clauses that you need to finalize and formalize the deal? What are the contingencies, safeguards, and guarantees that you need to protect your interests and mitigate your risks? What are the deadlines, milestones, and deliverables that you need to set and monitor the progress and performance of the deal? By negotiating the details, you can ensure clarity, accuracy, and completeness of the agreement.

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6 Review and confirm

The final step in any negotiation is to review and confirm the agreement. What are the key points, benefits, and obligations that you have agreed upon with the other party? What are the next steps, actions, and responsibilities that you need to follow up and execute the deal? What are the feedback, evaluation, and improvement mechanisms that you need to maintain and enhance the deal or relationship? By reviewing and confirming the agreement, you can verify, validate, and celebrate the successful outcome of the negotiation.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Ajit Nair

From Corporate to Self- A happy journey of searching self expression
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*Position of bargaining to negotiating* When goals of both parties are varying, it starts with bargaining. Hence value based discussions and cost build up plus margins need to be transparently agreed. The sellers perspective and buyers need should be mapped. The point of convergence is important to be arrived. As a tool use Kralgic matrix to ascertain the seller’s significance. These will help convert Bargaining to Negotiating

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Mudassir Mustafa

Beyond the hype is a show that I produce to tell the stories of companies that are reshaping our world.
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The dynamics of human connection can't be replaced by any tech. Taking time for genuine understanding between parties can unveil complementary goals and create value not seen from initial combative stances.

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How can you negotiate when both parties have different goals?

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3

4

5

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1 Understand their perspective

2 Communicate your value

3 Explore options and scenarios

4 Seek win-win solutions

5 Negotiate the details

6 Review and confirm

7 Here’s what else to consider

Venture Capital

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How can you negotiate when both parties have different goals?

1

2

3

4

5

6

7

1 Understand their perspective

2 Communicate your value

3 Explore options and scenarios

4 Seek win-win solutions

5 Negotiate the details

6 Review and confirm

7 Here’s what else to consider

Venture Capital

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