The Entrepreneurial World
Every successful entrepreneurial effort starts with an idea and moves through some series of typical stages—from seed to (hopefully) exit. At each stage, founders must engage a galaxy of different actors, including partners, funders, technical staff, suppliers, and customers. How these negotiations are handled will determine whether a venture succeeds or fails. Indeed, many start-ups make it only through one or two stages before failing, and many more find their journey less predictable and eventually shut down. Throughout the entrepreneurial process, relationships must be forged and maintained in parallel to the founder internally developing their own entrepreneurial self. Negotiation is shown to be a vitally important entrepreneurial skill, one that is required for the many described interactions that most entrepreneurs must be able to handle from founding the company to the many milestones that are involved in raising money, hiring, procurement, licensing, servicing customers, selling, and deciding on strategy. Many entrepreneurial relationships are long-term and involve negotiating many agreements, contracts, and milestones.
KeywordsEntrepreneurial process Start-up stages Seed to exit Entrepreneurial galaxy Entrepreneurial self Negotiation milestones Disruption Negotiation skills
- Arabsheibani, R.G., David De Meza, John Maloney, and Bernard Pearson. 2000. And a Vision Appeared Unto Them of a Great Profit: Evidence of Self-Deception Among the Self-employed. Economic Journal 67 (1): 35–41.Google Scholar
- Ekman, Paul. 1984. Expression and the Nature of Emotion. In Approaches to Emotion, ed. K. Scherer and P. Ekman, 319–343. Hillsdale: Lawrence Erlbaum.Google Scholar
- Gino, Francesca. 2013. Sidetracked: Why Our Decisions Get Derailed, and How We Can Stick to the Plan. Cambridge: Harvard Business Review Press.Google Scholar
- Salacuse, Jeswald W. 2003. The Global Negotiator: Making, Managing and Mending Around the World in the Twentieth-First Century. New York: St. Martin’s Press.Google Scholar
- Wheeler, Michael. 2013. Art of Negotiation: How to Improvise Agreement in a Chaotic World. New York: Simon and Schuster.Google Scholar