Connect, Learn & Share - Open community for all Canberra Businesses

Polls


Ask yourself: Are you a good negotiator or not?

  • 1.  Ask yourself: Are you a good negotiator or not?

    Posted 11-11-2021 09:34

    We all know that negotiation is a fine art. But how do you go about negotiating a term sheet with passionate founders and smart investors? It can feel like doing rocket surgery without a law degree. Wouldn't it be great to have a dry run? An opportunity to test the experience without putting the real deal on the table?

    Experienced venture investor and CEO of ANU Connect Ventures Nick McNaughton says that Term Sheets can be intimidating, and the lexicon used is alien to many founders. That's why on the 22nd of November, Nick is leading a workshop with the Canberra Innovation Network on how to find investors and how to negotiate the right deal with them.

    "This workshop demystifies the typical clauses you will find in a term sheet and allows the participant to understand the implications of the clause through a real world role playing exercise. The outcome of this workshop is always different and allows participants to understand their personality better: Are you a good negotiator or not?" says Nick.

    So, what is key for a good negotiation, you ask? Staying calm, listening well, being polite are good attributes, says Nick. Being clear on what you want as an outcome from the negotiation is also important. That way, you can clearly communicate when a proposition being presented to you may or may not work.

    "Make sure you know your 'deal breakers' as these are your guidelines on when you have to walk away from a deal," he says.

    If we've learnt anything from TV, it's that the Good Cop/Bad Cop act works a charm – but does it work in reality? In Nick's experience, having a mix of personalities on a negotiating team works well.

    "Passive/Aggressive; Quiet/Loud; Good Cop/Bad Cop are all well-known techniques for achieving a positive outcome. However, you have to know the limits and also still be calm, polite and respectful. If the person you are negotiating with doesn't like you during the negotiation period – any partnership is doomed to fail."

    Raising Capital and Negotiating Terms is a full day online workshop facilitated by Nick McNaughton where you will experience a realistic negotiation over terms including valuation.

    With a tight-knit group, you'll experience common pitfalls and traps. You'll learn tricks you can use to minimise your chance of failing to raise money and maximise your chance to successfully close an investment round.

    "It is always helpful to develop your skills. Negotiation skills are applicable in all aspects of life so you don't need to be a founder currently raising capital to take some life lessons from this session."

    Raising Capital and Negotiating Terms is happening on the 22nd of November – Get your ticket now.



    ------------------------------
    Canberra Innovation Network
    (02) 6162 1149
    ------------------------------