Negotiation Strategies for Entrepreneurs Featured on Kauffman's eVenturing(TM) Site.

KANSAS CITY, Mo. -- Negotiation skills -- an increasingly important part of virtually every aspect of business and life -- are especially valuable to entrepreneurs engaged in growing their companies. This month, Kauffman eVenturing(TM) (www.eVenturing.org), a Web site for growth-oriented entrepreneurs operated by the Ewing Marion Kauffman Foundation, features new articles by global leaders and experienced entrepreneurs to help emerging business owners become better negotiators in their daily and longer term business dealings.

"Entrepreneurs who have mastered the art of negotiating clearly have a leg up on the competition," said Judith Cone, vice president of Kauffman Foundation's entrepreneurship initiatives. "Those who understand how to make both sides feel they are walking away as 'winners' are typically the most successful in achieving their goals."

When entering negotiations, entrepreneurs should take the time to fully understand both sides of a deal and enter the process with realistic expectations. In addition, they should be aware of the strategies and tactics that can help ensure a favorable outcome for all the parties involved.

Following are highlights of this month's Kauffman eVenturing collection on negotiation strategies:

--"Negotiation for Mutual Gain" by William Ury, distinguished global expert and co-founder of Harvard Law School's program on negotiation, provides insight on how the "Knowledge Revolution" has transformed even the most traditional hierarchical organizations into flatter, more cooperative networks. He explains how to enable both sides in a negotiation to gain by expanding (rather than dividing) the economic pie.

--"Creative Negotiations for Buying and Selling" by Corey Schwartz, a serial entrepreneur and founding partner of Serinova Financial, Inc., recounts his experience in negotiating an attractive sale price for an ailing company. He armed himself with detailed knowledge of its true future value and how to turn the company around, thus winning the buyer's full confidence.

--"Negotiating The Tech Transfer Process" by William J. Garner, MD, MPH and managing director of EGB Advisors, a pharmaceutical investment advisory firm, describes the critical role negotiations played in technology transfer and commercializing technologies for Inverseon, a company that reprofiles drugs for chronic diseases. He highlights a three-phase process: building trust, negotiating intellectual property, and communicating during post-licensing.

--"Getting the Most from Negotiations" by Jewelle Bickford, senior managing director of Rothschild, Inc., provides a checklist of do's and don'ts for negotiating the sale or purchase of an entrepreneurial business. She notes entrepreneurs must go in with all the facts, understand the other side's wants and needs, keep their ego/emotions out of the process, and be willing to adjust strategies.

--"Negotiating Both Sides of the Deal" by Michelle Lemmons-Poscente, founder and president of International Speakers Bureau (ISB), points out the key to successful negotiations is to have a thorough understanding of what your product can deliver and what the buyer really wants/needs, thereby aligning the needs/demands of both parties.

--"Secrets of Powers of Negotiating" by Roger Dawson, a leading negotiations expert, identifies successful strategies entrepreneurs can use to improve their negotiating skills. Examples include side-stepping a difficult issue in favor of resolving smaller issues when you reach impasse, never jumping at the first offer even if it's acceptable and flinching at whatever the other side proposes.

--"Conducting International Negotiations" by Harald Horgen, president of The York Group, offers a comprehensive primer on overcoming basic challenges entrepreneurs face when entering international markets. Understanding cultural differences in negotiating styles, identifying who the real decision-maker is and reading the real meaning of a simple 'yes' or 'no' are key.

--Tools and Templates: Included are practical tools entrepreneurs can use to negotiate effectively, such as an extensive due diligence checklist of critical information for those considering purchasing or selling a business and a video excerpt from Roger Dawson's Guide to Business Negotiating.

"Understanding negotiation strategies is an invaluable resource for entrepreneurs in virtually every aspect of their business," observed Susan D. Hesse, a Kauffman Foundation entrepreneur-in-residence. "It's well worth spending time to hone the fine art of give-and-take."

The Kauffman eVenturing site is dedicated to serving the needs of growth-oriented entrepreneurs. Every month, a new collection of articles on key themes of interest to entrepreneurs -- such as finance and accounting, people and human resources, sales and marketing, products and services, operations and the entrepreneur (e.g., strategy, culture, leadership) -- is featured on the site. The collections contain a mix of original articles and a carefully reviewed aggregation of some of the 'best of the best' existing Web material on the topic at hand.

To read the full collection on "Negotiations" please visit the Kauffman eVenturing site at www.eVenturing.org.

About the Kauffman Foundation

The Ewing Marion Kauffman Foundation of Kansas City is a private, nonpartisan foundation that works with partners to advance entrepreneurship in America and improve the education of children and youth. The Kauffman Foundation was established in the mid-1960s by the late entrepreneur and philanthropist Ewing Marion Kauffman. Information about the Kauffman Foundation is available at www.kauffman.org.