Entrepreneurship Expert Matt Rogers demystified the negotiation process for the NSIV community in an InnoVentures U seminar, “Know When to Walk Away – The Art of Negotiation.” He made it clear that once you reframe the process as an activity that involves preparation, problem solving, brainstorming, and imagination, negotiation becomes a whole new ball game. In this regard, he stressed the importance of “doing your homework” and knowing your “must have(s)/non-negotiable” points before you even agree to speak to the other party. He warns, “Never be quick to say ‘yes’ for the sake of striking a deal.” This is a death knell because you may end up with an agreement that may put you or your company at great risk. In the final analysis, if you feel that you’re up against the wall and can’t come to a satisfactory agreement, Matt recommends that you take out your BATNA (Best Alternative to a Negotiated Agreement) and walk away, knowing that there is another negotiating opportunity right around the corner.
About Matt Rogers
My own journey began when I earned my B.S. in leadership from Northeastern University. I was a non-traditional student returning to college after a 10-year absence. That experience instilled in me a passion for learning. I went on to earn an MBA from Suffolk University. Three years later, I earned a post-grad certificate in bilingual education from the University of Notre Dame, which helped me understand different learning styles and how I could better coach adults.