Effective negotiation involves understanding market value and using expertise to justify higher offers; in this Shark Tank negotiation, the investor increased their offer from 20% to 25% equity for $200,000 by demonstrating knowledge of premium companies and existing relationships, ultimately convincing the entrepreneur to accept the deal.
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Damon knows how to negotiate 💀‼️ #sharktankAdded:
And what will you net this year?
>> I'm hoping I net around 200,000.
>> So, what do you That's nice. Oh, this.
So, what do you need the money for?
>> I really want help with licensing. I want to be able to do sports ones. I want to be in bookstores, college bookstores.
>> I like it. I don't have lit handlers in my portfolio. So, I'll make you an offer. I'll do it for 20%. I'll give you 200 grand.
>> Okay.
>> I guess Listen, if I if I have to roll my sleeves with my team on this, we're just going to need a little bit more.
I'll offer you 200,000 for 25%. I'm going to raise mine to 25 >> because I've been in this space. Now, we know who the premium companies are to sell goods to that are going to put logos on and all. We're already talking to them >> and that's why I feel the value is there because we could probably increase the company by a large amount and and then get you what you want.
>> Would you be willing to go to 20%.
>> If you do it right now, don't look at Kevin.
>> Done.
>> All right. Here we go.
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