THE ART OF NEGOTIATION IN SPORTS BUSINESS: LESSONS FROM MY UNCLE
5 Min Read
Negotiation Skills I Have Learnt from my Uncle on the Streets of Notting Hill
In the dynamic realm of sports business, mastering the art of negotiation is as crucial as strategizing. This essential skill was honed during an unexpected experience: exploring the picturesque Notting Hill and the vibrant Portobello Road and Market. Under the guidance of my Uncle Arie, a neurologist and seventh-generation Jerusalemite with a fervor for antiques, I learned negotiation techniques as effective in the sports industry as they were in London’s antique shops.
Initial Engagement: Arie began each interaction with sincere compliments, a tactic directly applicable to sports negotiations. It’s crucial to start every discussion by recognizing and valuing the other party’s strengths, whether it be a team’s performance, an athlete’s prowess, or a company’s product.
Building Rapport: Establishing a personal connection with sellers was a key skill demonstrated by Arie. In the realm of sports business, whether it’s dealing with sponsorships, player contracts, or partnerships, creating personalized interactions and building trust are crucial elements.
Negotiating the Price: Arie’s tact involved subtly suggesting sellers might have overpaid, steering clear of direct criticism. In sports business, this translates to understanding the other side’s position and constraints. Proposing alternative perspectives or solutions, instead of direct disagreement, can lead to more productive discussions.
Concluding the Deal: Possessing deep knowledge of antiques often gave Arie an upper hand. Similarly, in sports negotiations, having an in-depth understanding of the sport, market, and specific needs of athletes, teams, and sponsors is essential for concluding discussions effectively. A strategic question like “What’s the best you can offer?” followed by patient listening can lead to mutually beneficial agreements.
The Lesson: My experiences with Arie, in the charming neighborhoods of Notting Hill and Portobello Market, underscored that successful negotiation in sports business, akin to antique collecting, depends on respect, empathy, and profound understanding. Arie’s methods, rooted in the historic streets of Jerusalem and practiced in London’s quaint shops, emphasize the significance of building respectful, knowledge-based relationships for effective negotiations across various fields, including the spirited world of sports.
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Founder and CEO HYPE Sports Innovation