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Sunday, January 12, 2014

Negotiating Techniques: What every artist should know

            I had the pleasure of speaking with Wendell Johnson. He was the road manager for the Young Money rapper, Lil Twist. He was also a big part of the YMCMB movement with artists such as Nicki Minaj, Lil Wayne, Drake, and many more. He has been with them for the last five years and continues to work with other artists to help them into the music industry. In his spare time, he is currently working on starting his own company called My own world tour. This is an apparel and accessory company that allows you to express who you are and how you live in what you wear.
In speaking with Mr. Johnson he explained some of his negotiation techniques. I asked Mr. Johnson if uses any dirty tricks or if he has had any dirty tricks used on him during negotiation of a deal. Mr. Johnson stated that this is part of the music industry game. You have to sometimes use tricks to get what you want. An example that he gave was when making a deal for an up and coming artist, he has to make the artist bigger than what he or she is. This is the only way the label will look at the artist. He stated that the music speaks for itself but if the artist does not have the numbers you have to give the label something else to look at. This is a trick of the industry that many artist today use.
When using objective criteria to make a negotiation what sources do you use? Mr. Johnson stated that he normally uses his previous artists or calls other labels and managers to see what offers are being made for that particular negotiation. This helps give him a range of what he should ask for. Mr. Johnson stated that he never starts with a low number for anything. He will start with the highest number possible based off of what he knows the other person can afford. He then works his way down from that number. This way he does not “low ball” himself. Mr. Johnson stated that he researches everything. He always likes to know a little more than what he thinks the other party may know.
When asked if it is hard to separate a person’s interest from his or her position; Mr. Johnson stated that it is hard for anyone to focus on the interest instead of the position of a person. He stated that a true negotiator could do this immediately. He is still working on this at that time. Sometimes he focuses on the person and forgets to remove the person from the actual negotiation and only focus on the problem at hand. He stated that the best way to do this is to write out the problem or the interest of each party from the beginning and then cross them off as the agreements are met. This helps everyone to stay on track and not deviate from the main issue.
I asked if Mr. Johnson had any tips for up and coming negotiators. Mr. Johnson said to always know who and what you are negotiating about before going into the negotiation. Know what questions you need answers to and always have a set starting amount and work your way down. He also stated to stand your ground if it is something that you believe in and do not let anyone bully you out of doing what is best for you and your business. The last pointer that he gave was to not let fear rule your decisions.