Jenn Foster and Melanie Johnson co-owners of Elite Online Publishing, interview Jeanette Nyden an experienced lawyer and negotiator. In this episode, they discuss contract negotiation, providing valuable insights and practical tips to help listeners secure the best deals and navigate complex pricing mechanisms.
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What You’ll Learn In This Episode:
- How to negotiate contracts.
- How to identify risk.
- How to do a tradeoff.
“The problem is that, you know, sales service providers, they want time and materials cuz they’re not a hundred percent sure what’s going on, what they’re gonna meet when they get in there and start working on it. The business objectives are not crystal clear, so they could lose money on a fixed fee.” (03:47)
“When you can deeply listen and you can make the message that you are trying to convey attractive to the listener, you’re more likely to reach an agreement.” (07:42)
“We need to build the contract right in the first place. And if you are the receiving end of someone else’s contract, then you really do have to get an expert in that industry to be able to read it and review it and issue spot.” (13:07)
About Jeanette Nyden:
Jeanette Nyden is an accomplished author, co-authoring 4 books on contract management, including “The Contract Professional’s Playbook” and “Getting to We.” She is also a co-creator of online training programs for contract, sales, and procurement professionals. With extensive experience in negotiations, she has successfully handled deals ranging from preferred-vendor agreements to outsourcing contracts worth hundreds of millions of dollars.
Jeanette has trained contract professionals at Fortune 50 corporations and various companies generating substantial annual revenue. Additionally, she has taught as an adjunct professor at Seattle University and the University of Tennessee’s Center for Executive Education. Jeanette holds a Juris Doctorate from Southern Illinois University and is licensed to practice law in Washington State.
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Video URL: https://youtu.be/8tHJlALHKWg