Life is full of negotiations, and so is the Shark Tank. Entrepreneurs and small business owners present their products to the Sharks and have to negotiate a fair dollar amount in exchange for a stake in their company. The Sharks are seasoned entrepreneurs themselves who are well trained in negotiating to win. This presentation will help educate all those entrepreneurs and teach them the language and art of negotiating. This presentation is part of the Shark Tank Class series as seen on Blog Shark Tank (http://www.blogsharktank.com).

1. By: Jeff Hopkins
Owner at BlogSharkTank.com
Season 5
Issue 4
Blog Shark Tank presents:

2. • Types of Conflicts
• Positives of Conflicts
• Positional Bargaining
• Barriers to Effective Negotiation
• Dirty Negotiation Tricks
• Power and Influence

3. Understanding the type of conflict you
are involved in is important because it
helps define the approach and method
you need to use in the conflict or
negotiation

4. • Both parties want different things that are mutually exclusive
Mutually Exclusive Differences
• Both parties want the same thing, but can’t both have it
Distributive Differences
• Both parties want the same thing, but they don’t agree on
how to get it
Pathway Differences
• Both parties disagree on whether a certain thing is right or
wrong
Value Differences

5. Surfaces
differences
Encourages
thinking &
diversity
Explores
options
Builds
solutions
Improves
relationships
(hopefully)
Leads to
best result
(hopefully)

6. Participants are
friends seeking
agreement, avoi
ding a
contest, and
yielding to
pressure
Soft
Participants are
opponents
seeking victory,
trying to win,
and applying
pressure
Hard
People bargain or negotiate for two key reasons…

7. Competition Greed Lack of Trust
Poor
Communication
Time Constraints
Getting “even”
at the other
party
Self-interest Disrespect Arrogance

8. These dirty
tricks can
ruin the
quality of
any
negotiation.
Rushing time Adjusting room
temperatures
Saying phony
facts
Refusing to
negotiate

9. There are many different levels of power and influence.
The Sharks possess what is called Reward Power.
Check it out…

10. • When others
believe you have
knowledge that
they don’t have
Expert
Power
• When others
believe you have
the power to
influence them
because of your
position or status
Legitimate
Power
• When others
believe you have
the power to
carry out threats
Coercive
Power
• When others
believe you have
the ability to give
them something
they need or
want
Reward
Power
• When others
believe you will
like them, and
therefore want to
please you
Referent
Power
• When others
believe you
represent a
group with
common beliefs
Group
Power

11. Because the Sharks possess
Reward Power, they have
leverage in the negotiation.
Your job, as the one seeking an
investment, is to make them want
to invest in you and your business.
In other words, if you are begging for an
investment, they hold all the cards.
But if you make them want to partner with
you, they relinquish some of those cards and
give them to you.

12. • Choosing the Right Shark as a Partner

13. Follow Us:
Google Plus: +BlogSharkTank
Twitter: @BlogSharkTank
Follow Me:
Google Plus: +JeffHopkins
Twitter: @BusinessShark2