Does negotiation differ from business to business?

Rosabel Cedeño is the co-owner of one of the most successful businesses in the southern region of Puerto Rico. She, along with her business partner, who also happens to be her fiancé, are the owners of an event planning and promoting as well as two of the hottest and classiest nightclubs in the region of Ponce. I thought it might be interesting to see how the film business and the event coordinating business differentiate in negotiations. But in my asking her these questions, I found myself agreeing with everything that she says.

It teaches us that negotiation is the same everywhere; it only depends on what your interests and your ultimate goals are. Enjoy the information, and don’t be afraid to ask me any questions!

1. Give an example of how you separate the people from the problem in the negotiations that you take part in for your business.

We must face the problem, not the people. The fact that one person doesn’t coincide with another’s point of view, doesn’t mean that they are being rejected. I, personally had a situation in which I had to tell my cousin, who is my employee, that she was underperforming, and wasn’t meeting the expectations. We sat and talked. And we got to the root of the situation, and I saw that she was going through some personal circumstances that were affecting her performance. We made a deal between both parties (she and I) to solve the situation, and it’s been going well up to this point.

2. How does separating the people from the problem affect the outcome of the deals?

By separating the personal problems better negotiation can be found. Negotiations are there for us to find a win-win for both parties, with modifications, and adjustments, and agreement on certain details. Maintaining a rational and objective position we obtain better results.

3. Give an example of how you use objective criteria to get what you want in your negotiations.

I analyze, determine what I desire, I think about what can benefit us, I achieve my objectives and always have in mind that we, as a team, are successful.

4. How did using objective criteria affect the outcome of the deals you make?

Negotiating and hustling a detail, or proposing a realistic and concrete point help and contribute our negotiations. And most of all help us obtain the results that we are looking for, those being success for both parties.

5. Give an example of how you work toward mutual benefit in your business.

Speaking in regards of my business, what we do to gain mutual benefits while I’m the middle of a negotiation with either an employee, for example, I try to comprehend and put myself in his/her position and listen to the point that they are raising. I am very clear in the objectives and goals that I wish to accomplish with my company and up to where I can “yield”; I discuss their preoccupations, I motivate them and we come to an agreement that would benefit each of us. If my employee understands my position and I his/her, they’re going to perform and fulfill the expectations, and therefore I obtain better and bigger benefits.

6. Has there ever been a time where you lost a negotiation or felt like you would’ve done better to get a better end result?

Yes, there came a time where I didn’t get the result that I wanted at that moment to improve my business. But I was able to comprehend that the other person’s criteria and interests were and still are valid and what I wanted would’ve limited that person. The reason why the negotiation failed was a compilation of factors that limited us both and were out of his control.

7. What is the constant factor in your negotiations?

Communication and be clear of the true interests of both parties.

8. What is your advice for people just as yourself, who are starting in the business and are pretty much at the reins of their own dream businesses?

Patience, communication, immense effort and sacrifice, having a positive attitude at every moment, for anything that may present itself. Your attitude is going to define how you undertake and accomplish your way and your goals. Desire to work in order to reach your dreams and see them come true in front of your eyes.

Having a business is very sacrificed, but there is no better satisfaction that to see your dreams come true, and in the future see how much you’ve grown….

Something that’s very important to see clearly is your interests, if after a few months or years of having your business, and your interests and motivations are the same as the first day of your journey, then you’re on the right path. If they have changed negatively, think, analyze and meditate in what you’re doing and ask yourself “what motivated you at the beginning of your journey” so you can keep going strong.

Negotiation and its perspectives...

Angelo Vicente is an up and coming indie producer. He’s done a slew of indie films and music videos and is currently in the process of co-opening his own production company here in Puerto Rico. He tells me that he’s had to negotiate everything from the name of his company to the scripts he and his partner decide to do. Given the fact that I want to work in the film business as well, I thought it would be prudent to interview someone who’s had experience in this area.

1.  Give an example of how you separate the people from the problem in the negotiations that you take part in for your business.

I believe in the ability of most people to use logic. Following on this, one can present the problem in a very straightforward manner; using an almost algebraic formula. It could be interpreted, as “this is what we need, what can we do to achieve it?” If the situation is presented clearly, the probabilities of it being understood rise exponentially.

For example, a client wants to know more about our services. What does the client need? Who is the client? What better tactics can we use to inform the client; a presentation or a video link?

2.  How does separating the people from the problem affect the outcome of the deals?

Presenting a problem with a clear focus can result in a sober observation of what is going on, instead of the situation falling victim to spur-of-the-moment decisions. Overall, it leads to making better decisions.

3.  Give an example of how you use objective criteria to get what you want in your negotiations.

Every time there is a presentation on a possible client, everything you say must be backed either by information or your professional experience. This way, there is a validation on what is delivered.

4.  How did using objective criteria affect the outcome of the deals you make?

It usually leads to positive deals themselves, since the information you present is substantiated with facts. This is very important in business.

5.  Give an example of how you work toward mutual benefit in your business.

In our field, for example, a budget might be adjusted to reflect the realities of a smaller client. This leads to more business for us at a price they can afford, so quality is never sacrificed, and neither is our business.

7. Has there ever been a time where you lost a negotiation or felt like you would’ve done better to get a better end result?

Yes, these situations always happen. They happen less as you realize what your own preparations have to be like.

9.  What is the constant factor in your negotiations?

Empathy with the client is very important. If you do not understand your customer, selling your service/product will be more unlikely. Also, an emphasis on quality is a must: you must be proud of what you are offering.

10. What is your advice for people just as yourself, who are starting in the business and are pretty much at the reins of their own dream businesses?

 Always do your best, and never  “half-ass” it. My advice would be to treat it with respect. Everything else will flow from there.