In my upcoming book for Random House, “The Yes Book” I write about how rapid growth in technology is changing the way that we negotiate:
* Technology makes the world go faster – so we need to negotiate with business partners who can help us act more quickly. If we act on our own we may move too slowly and be outflanked by competitors.
* Technology globalises business – so we need to negotiate with business partners who can capture the overseas potential from operating in an increasingly inter-connected world.
Some current stats which illustrate the phenomenal growth in technology…
The trajectory is equally startling with respect to mobile and other devices…
According to a new report by ZenithOptimedia…
It’s not just that technology develops fast. Major services can come and go in the blink of an eye. Facebook went from 20 million users to 900 million users in five years from April 2007. MySpace launched in August 2003. By December 2008 it had 75 million monthly unique visitors. By June 2012 only one third of those were left as MySpace was overtaken by Facebook. The previous year it had been sold for US$35 million, having been bought by Newscorp only 6 years earlier for US$850 million.
Anyone remember GeoCities? Founded in 1994 it was a web directory that let users place their own pages in virtual ‘cities’, corresponding to their subject matter. Community elements such as chat were added, and adverts were first placed on people’s pages in 1997. Later that year, GeoCities got its millionth user. In 1998 the company went public, and the following year it was the third-most-visited site on the internet. GeoCities was taken over in 1999 by Yahoo for $3.57bn. Yahoo introduced new terms of service, asserting ownership over all content put on GeoCities pages. Users deserted the service in millions and it was shut by Yahoo in 2009.
That blur of statistics just illustrates the pace of technological change. What does it mean for negotiating? All of that connectivity and speed of action simply wasn’t available even 20 years ago. If you want to trade with people in today’s world you have to:
1) Be able to create deals and execute strategies at pace.
2) Use partners with whom you have negotiated flexible arrangements which are mutually rewarding.
3) Have partners who can help you access new connected audiences in many countries.
Even if you are large you are not immune from the effect of technology change, and it’s a mistake to assume that you don’t need anybody else. There has never been a time when effective negotiating was a more crucial skill set.
Why not see how I could help you increase your deal-revenue by taking a look at my wide range of negotiation packages…
Hi Clive. I really like the way you write and this post highlights some interesting facts. I have become really interested in understanding the need to change negotiation tactics as technology develops. I have started a new blog on conflict and negotiation. I would really appreciate your insight and opinions. Many thanks, Sophie. http://thepowerbattle.wordpress.com/