In This Issue:

• Titan Sales Boot Camp in Dallas March 14/15 2006! sIGN UP TODAY!
• Feature Article- How a Tough Negotiation Put a Radio Staton on the Map

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How a Tough Negotiation Put a Radio Station on the Map

Last week, we visisted with entrepreneur Al Parinello and learned how he built his fledgling radio station into a successful enterprise surrounded by successful businesses offering related services. This strategy would never have worked if Al did not make the radio station a destination for radio listeners to come to. The station had to be more of a draw if it had any chance of becoming profitable.

In evaluating the market, Al realized that being in Atlantic City, he was sandwiched in between the Philadelphia and NYC markets. Even though Atlantic City is very close to Philadelphia, it was the one place where the Howard Stern show did not have coverage. Finding this a bit strange, Al commissioned surveys that backed up his assumptions.

Al immediately picked up the phone and called the Howard Stern Show. He was told that it would probably not work because there would be push back from Philadephia and NYC. If he could get both of those markets to agree, they would entertain the idea of giving his station a license. Agreements were made and now came the time to negotiate with Howard’

Before going any further, you must realize that Al built a slew of successful businesses by negotiating deals that were fair and profitable. After trying to get Howard’s agent on the phone for a few days, the agent returns the call and leaves an abrupt voice mail message, saying he had no idea what Al wanted, but if he wanted to talk, call back.

When Al called back, he asked the agent about the terms and conditions. The agent abruptly blurted out “there is no negotiation here! I win, you lose! What is so hard to understand about that?” Floored, Al again started to ask some questions to which the agent interrupted again and told him to stop wasting his time and call back when he was serious. There is no negotiation. Simply accept our terms and conditions, or call someone else. And then the phone went dead. He hung up on Al!

In all of his years negotiating deals, Al has never run into this abrupt behavior which basically shut down the entire conversation. The agent clearly was employing a tactic in which he was going to define the rules of the negotiation, for which there was no negotiation (no pun intended). As the emotion started to filter through Al, he wanted to call back the agent tell him off! However, common sense started to filter into Al’s thinking and he knew that the Howard Stern Show would literally catapult his radio station to the top of the market in a short period of time, let alone the siginigicant increase in ad sales he would see immediately. After sleeping on the situation, Al woke up and knew what he had to do.

He called the agent back, who by the way, was in a totally different frame of mind. The agent was now jovial, kinder and more receptive to Al. The agent knew that if Al called back, he succeeded in setting the terms for the negotiation and it was now time to do the deal. Within 45 minutes of that phone call, papers were faxed back and forth and a deal was struck.

A high risk deal! A deal that required a significant six figure investment up front that would double if certain market parameters were met. If the Howard Stern show increased Al’s Market share by x, he would pay a license double the amount of the entry fee. Needless to say, Al paid the higher amount with a smile because of the results he saw in market share and ad revenues. It was a huge success. The Stern Show became the highest rated show on any station at any time in the market. Al was able to sell the station for about 20 times what he paid for it.

Would it have been a big success if Al let his emotion get in the way at the beginning of the negotiation? People often employ hard ball tactics to set boundaries and rules for the game. You have to evaluate the best way to respond. Sometimes, you may be best served to walk away and set your own rules. You can’t do this if you don’t have other business to fall back on. Al couldn’t do this because he knew the Howard Stern Show was the one thing that would immediately change his business fortunes. In cases like this, it’s okay to do what it takes, as long as you never take your sights off of the overall goal.

The key lesson here is never negotiate the battle. Always make sure you are poised to win the war. Taking a hill simply for the sake of showing someone they cannot take advantage of you is not wise if in fact you lose the war. Emotion in a negotiation is dangerous. For the person employing the tactic, emotion is a great tool! For the person responding, you must remove the emotion and see everything for what it really is. Otherwise, emotion will cloud your judgement and lead to bad deals.

Thanks Al for this wonderful lesson. Question Al: What’s the next trick up your sleeve now that Howard Stern has moved to satellite radio? Oh, that’s right! You sold the station just in time. That’s another lesson: Knowing when to hold and when to fold.

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If you want to make a dramatic impact on your next meeting, bring Ron Karr in to address the troops on sales, negotiation, customer service and leadership. His programs are insightful, energetic and inspirational. They generate results. Call us now at 800.423.5277 or click http://www.ronkarr.com/contact.html here to schedule your date.

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Want all the answers on how to succeed in Win/Win Negotiations and how to respond to the most common negotiation tactics used by buyers today? Order your copy of our Special Report on Successful Negotiations Now by clicking here http://ronkarr.com/trainingtools/details/whitepaper.htm