Negotiating in the Entertainment Industry

Becoming a good negotiator requires many years of experience. As a curious student and an aspiring business owner, I felt that it was my duty to interview someone who could share their experiences with negotiating in the entertainment industry. For this blog post, I conducted a quick interview with Mr. John, an entrepreneur from the Caribbean region who had gained numerous experiences negotiating with alcohol vendors as a former nightclub owner. We will learn from a first-person perspective about Mr. John’s negotiating tactics and about his views of how to negotiate effectively in the nightclub industry.

What is your game plan when engaging into a negotiation? Do you consider yourself as a positional bargainer?

When I engage into a negotiation, the important thing for me is to find out how I could benefit from an outcome. As a club owner, I negotiated to find the best deals that would ensure the success of my business. To do this, I always asked questions. If I sell your products, what good would it do for me? Will I have access to your products at a low cost? Will you be assisting with any advertisements? If I know that I am a valuable source for selling your products, I would use my position to gain the advantage in a negotiation. In reality, it was all about what you can do to boost my profits.

How do you separate the people from the problem in a negotiation?

When it came to business, I negotiated everything on a business level instead of on a personal level. An incident occurred during a negotiation with a representative at a Coca Cola distribution company. I needed their products and services for my business, but the representative clearly did not want to agree on a “good” deal. Instead of taking things personally, I contacted his company and negotiated with someone who was more understanding of my position. Eventually, I got what I wanted and was able to establish a working relationship with their company because of my determination to focus on what I needed instead of what I didn’t need.

Can you give me more examples of how you handled a negotiation that was not going your way? What are your alternatives if an agreement is not met?

It all depends on the situation. If I am negotiating with someone and he is not cooperating, the simple thing to do is to schedule another time or to meet with a different person. If my business is doing well and someone wanted access to my services, negotiating could be as easy as giving an offer and sticking with it. If that person doesn’t like the offer, give it a day or two and see if he calls back. The important thing I realized is that every negotiation is an opportunity to expand my business. The last thing I want to do is walk out.    

Have you used any dirty tricks to help you gain the advantage in a negotiation?

I do not believe that I used any dirty tricks. Keeping things clean and straightforward was the best way to do the job. Throughout my 20+ years of experience as an entrepreneur, I believe that I have seen every trick in the book. If I saw a dirty trick coming, I would quickly address the tactic and demand to speak with someone who was more willing to negotiate. It is important to recognize these tricks and to stop it the moment it happens. Letting your opponent overpower you will only leave you with the shorter end of the stick.