Let’s Make A Deal…The Art of Negotiation

Are you familiar with the game show that used to come on TV called Let’s Make A Deal? What about a more current show called Deal Or NoDeal? In both of these shows there are a series of negotiations that take place between the host and the contestants whereby each contestant is given the option to keep what they have or trade it in for a bigger or better prize. If the contestant chooses wrong, they could lose everything. That sounds pretty serious doesn’t it? Well if you have never viewed either one of those shows, maybe you saw the movie The Negotiator with Samuel L. Jackson and Kevin Spacey. In this film, they are both highly trained hostage negotiators working in law enforcement. They are forced into a position where they have to negotiate against one another where hostages are involved in an effort to reveal the truth about a series of life and death situations. Ok, well hopefully now I at least have your attention and I can get you to see after reading a few short paragraphs that understanding how to negotiate in the entertainment business can be a very serious matter. With everything from contracts to copyrights to compensation to anything concerning making a deal, your negotiation strategies can make or break you.

Caleb Foster is someone who is highly respected and holds a very intricate position within the entertainment industry. Caleb holds to his credits a nomination for Gospel Announcer of the year at the 2010 Stellar Awards and was nominated for and won the Black Essence Award in 2010. With a host of other awards, accolades, and accomplishments he has earned over the years, he knows how to make the right deals and get the job done. Although he does not make the type of deals that could cause him to lose everything nor does he have to negotiate through a life or death hostage situation, he takes his role very serious. Throughout his daily routine as the station manager for the 1440 WDJR radio station in Detroit, Michigan he has learned how to master the art of negotiation. I was recently able to catch up with Caleb and ask him a few questions in an interview about his negotiation skills and here is what he had to say:

Q) How do you separate the people from the problem when you are negotiating? What tips do you have for new negotiators who are trying to do this?

A) In order to separate the problem from people you have to realize that the negotiation is business and not personal. The medical field is a difficult industry to communicate between people because they have to tell individuals information that might be uncomfortable. A doctor can give negative information to a patient and go on with his/her day because their delivery is not personal. A new negotiator should learn how to maximize the potential of the deal without losing morals or integrity. My solution in doing that is to always attempt to be beneficial on both sides. When that is not an option, realize that practices makes perfect. Every deal will not always go the way you want or expect so, make sure to gather all the pros and cons from each negotiation to compiles your data for future deals.

How do you handle positional bargaining tactics?

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

A) Most recently, I had a client who wanted more advertising airtime for less money than would normally be charged. He requested an hour and a half of airtime once a week for $200 per month. Our normal rate for what he asked for is $500 per month. I told him I would try to meet him somewhere along the way and knock his price down to $450 per month. He countered my deal with saying $300. I told him that isn’t possible but I would charge him $400 for the first three months and then $450 for the fourth month to give him time to get acclimated to a new system. He agreed!  

In the negotiation process, what do you see as the major difference between dealing with the specific interest of the involved parties vs. the positions? Interest vs. Positions

Have you ever had to deal with anyone who attempted to use dirty tricks when negotiating or have you yourself ever used any dirty tricks.

Have you ever had to prepare a (BATNA)? If so what was your process for preparing that (BATNA) Best Alternative To a Negotiated Agreement

Q) Do you consider yourself a good negotiator? If so what do you feel is your greatest attribute as a negotiator?

A) Yes, I consider myself a good negotiator. One of my greatest attributes I consider to be is the fact that I always try to make sure both parties benefit from the deal being negotiated. In a lot of cases the negotiating party wants to benefit themselves.

-The Mike Sears