3. When Entrepreneurs Negotiate

Based on the authors’ research, and their review of what other scholars and practitioners have written, this chapter introduces key negotiation terms, explains key negotiation factors, and identifies the eight worst negotiation mistakes that entrepreneurs commonly tend to make: they are self-centered, overly optimistic, put too much emphasis on “winning” in the short term, are too quick to compromise, try to work alone, haggle, rely too much on intuition, and often deny their emotions. Entrepreneurs can improve their negotiation and leadership skills in order to sidestep these mistakes. The authors explain how to do this by taking advantage of the insights offered by real entrepreneurs who tell their stories in the video case studies that are quoted in the book and included in the e-book.