The Art Of Negotiation IV: How Establishing a Bottom Line Helps You to Know When to Walk

Part IV in my ongoing series on negotiating a better deal for yourself.

Have you discovered where your bottom line is? Do you have a point at which you will walk away? You really need to. You simply cannot accept every gig that comes along and expect to go anywhere because that set up dangerous precedents for yourself.

Place Value on Your Act

Believe it or not, having a higher price tag on your performance increases your clout. I’m not telling you to charge a minimum of a thousand bucks, there are some acts that do, but they already have a massive followings. I’m saying start at five hundred and see what happens. Then figure out what you will not play for and you will usually get a fair amount for a new band. You may be surprised to find you land a couple at five.

Of course, you need strength heading into negotiations so you will need some value attached to your act. Obviously a quality recording, a list of venues you have performed at reviews, airplay, past fees, previous box office sales. All of this lends credibility to your band or act.

Not All Value is Based on Money

If you do not yet have this, then you need to make some compromises initially on the monetary reward but that do not mean playing for nothing. For instance, will the gig grant you a wider audience? Will they cover your travel expenses? Will there be an opening or closing act that will look good on your resume? These things are worth more than money, depending on your needs.

Don't Be Afraid to Say No

Now let’s get back to those of you with cred established and a steady following. Maybe you need to break out of your current rut. You shouldn’t be too attached to the outcome of any particular negotiation, even if the venue is one you have wanted to play for a long time, or if it’s in a town you have wanted to get into. This will enable you to walk away from a bad deal when it’s presented to you and walking away, gives you remarkable bargaining power. For one, it gets you out of a bad situation and displays your conviction of purpose.

When you display a willingness to walk away, you show you have value and even if the promoter lets you walk, he will be thinking about you. That is a good thing. He may feel remorse and offer you another gig later that meets your criteria.

Commit To Your Principles 

The other outcome may be increasing offers form the other party for fear of losing your act. At this point, they have invested a lot of energy and time into the process and most people do not want to lose on their investments. They may now be seeing where you stand and what you will not go for. Believe it or not, they will respect you for having a hard line on nonnegotiable items and now they know what you will not go for. This is crucial information and prepares the groundwork for future negotiations. Remember, every negotiation should be approached with the prospect of future dealings.

Here we can see how establishing your bottom line increases your chances of getting what you want out of a deal and in order to make it mean anything, you must walk away from a deal if it doesn’t at least meet your bare minimum, otherwise you are just hurting yourself. If you do not, you will seem desperate and promoters will not hesitate to take advantage of that desperation and you will never get anything worthwhile form your performances.

So have some respect for yourself and stick to your guns it may nit land you the immediate gig, but it will pay off in the long run. Besides, you don’t want to deal with anyone who does not respect you enough to meet your need


Ref.
http://performingbiz.com
How To Be Your Own Agent-Jeri Goldstien