Pitching and Negotiation Skills for Business Success

This report discusses the importance of pitching and negotiation skills for business success. It covers the key steps required for negotiating and generating deals, and how to gain the best deals and contracts. The report also explores the principles and outcomes of pitching, and how organizations can fulfill their obligations from a pitch. It provides expert advice for business start-up advisors and managers.

Pitching and
Negotiation Skills
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Determine what is negotiation in business context................................................................3
Key steps required for negotiating and generating the deals..................................................4
Importants of negotiation and importants of key individuals in negotiation.................5
In the given context, the investors wish to gain maximum profit out of the investment they
have been made in the company. Business entity is performing the business functions to attain
the profit. There are conflicts in terms of bargaining.............................................................6
How to gain best deals and contracts.....................................................................................6
Listen and understand other party: To get the best deal, it is imperative to listen the other
party. Here, both the parties play important role in negotiation. Hence, it is crucial to listen
and understand the requirements and needs of each-other.....................................................6
How to generate new business and win deals........................................................................6
Tendering for contracts...........................................................................................................7
Preparing for negotiation through a request for proposal.......................................................7
Responding to RFP.................................................................................................................8
contractual process and agreements.......................................................................................8
P5 Develop an appropriate pitch applying key principles that achieve a sustainable competitive
edge................................................................................................................................................10
P6 Assess the potential outcomes of a pitch..................................................................................11
P7 Determine how organisations fulfil their obligation from a pitch, identifying potential issues
that can occur.................................................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................15
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INTRODUCTION
Negotiation is a process that is used to settle down disputes between two and more parties.
In the present time, negotiation skills are important to win a new contract on agreeable terms.
This skill helps a person in running a small business in successful manner. In other words,
negotiation is a process where two parties communicate with each other based on their needs &
requirements to find out mutual solution of a particular problem. Pitching is about making
customers familiar with the product or services that are being offered by a particular company.
By effective pitching skills, it is easy to sale new products or services. Further, it allows the
business managers to get more and more sales by attracting new clients in an efficient manner
(Łącka-Badura, 2020). In the present context, I am working as a business start up advisor at
Bromey London. In current context, STATIUS MANAGEMENT SERVICES is taken into
consideration. It is a small consultancy company based on Bromley Borough. It helps the
business entities in improving their overall efficiency and effectiveness. The report will cover
concept of negotiation along with the stakeholders during negotiation process along with
necessary steps required for negotiating and generating the deals. Further, RFP process has also
been covered in the report. Additionally, the contractual procedure will also include in the
following report. The second part of report will cover principles and outcomes of pitching.
MAIN BODY
TASK 1
Covered in Booklet
P5) Develop an appropriate pitch applying key principles that achieve a sustainable competitive
edge
A business pitch is a presentation by means of two or greater people to an investor or group
of traders. This sale is through mail, letter, and many others. The primary intention of business
pitching is to secure organization sources (Mejía-Arauz and et. al., 2018), There are numerous
concepts for pitching. Continually boost up the undertaking, like the pitch of victory because
after listening to many uncommon conversations, buyers sometimes lose interest. Traders have
constantly been one of the maximum important stakeholders within the organization. STATIUS
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MANAGEMENT SERVICES is a large multinational company that have got numerous traders.
Those buyers are very crucial to the enterprise and it is STATIUS MANAGEMENT SERVICES
's duty to make sure top outcomes. Right here are a few desirable pitching standards to assist
STATIUS MANAGEMENT SERVICES businesses make sure a sustainable competitive gain.
 Respect buyers: this is the primary principle of advertising. The organisation must
ensure that it doesn’t forget the age of the purchaser small or big (Konijnendijk, 2021).
On occasion they'll be young, and it might be incorrect if negotiations don't forget the
client to have less expertise of ideas.
 Partnership term: If both parties consider that they may turn out to be partners after the
belief of this agreement, Pitch gives them a sustainable competitive benefit, whilst each
party recall it a victory for their businesses. This pitch is to hold them, without asking if
the events are running collectively to offer higher service. If the STATIUS
MANAGEMENT SERVICES enterprise considers Carrefour as an associate, this
relationship will remaining longer and both parties will advantage.
 Problem solver: STATIUS MANAGEMENT SERVICES businesses need to be on
track after they participate in advertising their business. STATIUS MANAGEMENT
SERVICES organization offers Carrefour the opportunity to lessen product expenses.
STATIUS MANAGEMENT SERVICES also said there was no want to change the two
companies. They work collectively to lessen the cost of services and products. A great
pitch constantly explains the solution to the problem that is one of the fundamental
concepts of pitching.
 Don’t ignore the small issue: Many problems can occur with pitching (Faff, 2021). The
negotiator needs to emphasize each factor whilst pitching.
 Clear negotiation agenda: Pitching has to not be related to a clean bargaining schedule.
The negotiator needs to correctly verify the purchaser's time. This precept shows that in
place of talking approximately a small problem, you come upon a huge problem and give
you a solution without delay.
 Considering Buyer’s needs: Considering buyer’s needs is the primary precept of
advertising and a business should never forget the age of the buyers. Once in a while
they'll be younger, and it would be incorrect if negotiations recollect the buyer to have
less expertise of ideas. Young shoppers are eager to get promoted in-residence those are
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crucial ideas of pitching. If the pitch follows those principles, it's miles a hit pitch and
STATIUS MANAGEMENT SERVICES count on the pitch to deliver lasting benefits.
P6 Assess the potential outcomes of a pitch
There are various outcomes of a pitch and some of the outcomes are elaborated below:
 Maximizing an opportunity that is arising: That is why training is so essential because
companies do not understand while advertising and marketing possibilities will occur. It also
suggests that public speakers can fast think about the capabilities needed by successful
marketers.
 Grabbing audience interest and generating curiosity: Not uninteresting the target market
with technical details about the product may be a crucial issue (McMakin and Fletcher,
2018). STATIUS MANAGEMENT SERVICES wants to arouse their interest to the factor
of asking them to make their next appointment with their clients.
 Story Telling: The excellent narration starts with a compelling story about how someone
used the enterprise's product and the way it helped them (i.e., stored time, cash, or possibly
their lives).
 Sharing passion for business opportunities: The concern of the presentation should not be
an obstacle to the organisation's funding / investment direction. There are hundreds of
pitches a day, and the maximum disappointing issue for an organisation who knew they're
obsessed with their enterprise; however blockage came out on the road and in time. With
regards to the organization, it couldn't successfully carry its passion for products and
marketplace capability.
 Sharing the personality of Brand: The greater investors, likes STATIUS
MANAGEMENT SERVICES the most because they accept as true with in the
organization's sales and want to help the employer. To do this, so that STATIUS
MANAGEMENT SERVICES have to insist on itself. It’s far hard to recognize a
commercial enterprise's character by using studying a piece of paper, so the business
enterprise desires to be cautious to expose its emblem's persona whilst providing the pitch. It
entails lots of practice.
 Confidence in communicating the business: If STATIUS MANAGEMENT SERVICES
sells and is assured, then it may be able to sell employer's products to its clients with
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confidence (Balakhonskaya and Balakhonsky, 2021). The organization ought to not hesitate
to proportion how much it believes in its products and its ability to take gain of market
possibilities.
 Setting the stage for all the important tasks: When STATIUS MANAGEMENT
SERVICES desires to listening the reviews of traders like, "I want to hear more about the
ideas of the business enterprise." The critique needs to be closed after the sale has been
made or until it gets better all through the sale. Create a feel of urgency so that the
company's target audience do not wait to listen extra and see the relaxation of the business
plan.
P7 Determine how organisations fulfil their obligation from a pitch,
identifying potential issues that can occur.
The organisations can overcome their obligation and challenges from a pitch by the
following ways.
 Follow up: with the help of follow up the organisation can ensure that they are actively
connected to their investors and this could also have the organisation to increase the
interest of investors in the business.
 Tracking and forecasting: with the help of continuous conversation the company can
emphasize near term forecast and post initial pitch tracking.
 Keeping the investors updated could help the organisation to provide details to the
investors about their processes and activities so that they can strengthen their relations
(Hamacher, Ormiston and Iren, 2022).
 Understanding doubts and addressing the strategies could help the organisation to trust
best strategies that fit their concerns and could trust the vision of the organisation.
 Creating follow ups can help the investors to follow the business uniquely and creatively
that can help to enhance the elements of conversation.
 Helping the investors is very necessary for the organisation to look into the ways so that
their behaviour can be made positive towards the organisation which enhances a
relationship with the company.
 Focusing on the next step helps the organisation to be prepared for any sort of misery or
unknown situation within the business.
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 Being nice: investors are also the people and Statius management services must have a
good behaviour with them because they are reasonable for making positive relations with
their investors (Raderstorf, 2019).
 Progress reports to the consumers and investors can help to enhance the brand image and
Goodwill of the organisation.
 Being empathy positive and motivational can actively engage the stakeholders of the
organisation to continuously achieve their targets with greater effectiveness and
efficiency.
 Connecting with networking events could help to view the potential investors and also
provide a complete description of the organisation.
 Opening up to the new opportunities could help companies like Statius management
services to take advantage of upcoming opportunities in the market and enhance their
overall profitability.
Statius management services may face many challenges but with the help of proper pitch the
organisation can overcome various challenges and have higher growth chances in the long run.
CONCLUSION
It has been concluded from the above report that the pitching and negotiation skills are
necessary so that an organisation or a business can run smoothly by developing mutual relations
and solutions with other parties to overcome a particular problem. It has been obtained from the
above report that the major stakeholder of the negotiation mainly includes competitors,
customers and suppliers. Moreover it has been understood that preparation, information
exchange, clarity, bargaining and implementation are the processes for negotiating and
generating deals effectively. Along with this RFP process like gathering, crafting, conducting,
follow up, making and creating are discussed for the success of the organisation. Furthermore
contractual processes like preparation, negotiating, appraisal etc. are discussed by monitoring
relevant descriptions. Finally, it has been obtained that there are very principles to achieve
sustainable competition as by the application of appropriate pitching and negotiation that has
been assessed.
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REFERENCES
Books and Journals
Łącka-Badura, J., 2020. Personal branding in an elevator: Developing job search pitch skills in
tertiary level Business English pedagogy. Language Learning in Higher
Education, 10(1), pp.207-215.
Pyles, D.G., 2017. A social semiotic mapping of voice in youth media: the pitch in youth video
production. Learning, Media and Technology, 42(1), pp.8-27.
Fletcher, D., 2018. Looking to the future: how can we further develop critical pedagogies in
entrepreneurship education?. Revitalizing Entrepreneurship Education: Adopting a
Critical Approach in the Classroom, Routledge, New York, NY, pp. xvii-xxiv.
Paço, A., Ferreira, J. and Raposo, M., 2017. HOW TO FOSTER YOUNG
SCIENTISTS'ENTREPRENEURIAL SPIRIT?. International Journal of
Entrepreneurship, 21(1), pp.47-60.
Gilmore and et. al., 2020. Four questions of entrepreneurial marketing education: Perspectives of
university educators. Journal of Business Research, 113, pp.189-197.
Faff, R.W., 2021. Pitching research®: A comprehensive resource center supplement. Available
at SSRN 3018939.
Pitcher, M.A., 2017. Varieties of residential capitalism in Africa: Urban housing provision in
Luanda and Nairobi. African Affairs, 116(464), pp.365-390.
Pitcher, M.A., 2017. Party system competition and private sector development in Africa. The
Journal of Development Studies, 53(1), pp.1-17.
Wheadon, M. and Duval‐Couetil, N., 2019. The gendering of entrepreneurship on reality
television. Journal of Small Business Management, 57(4), pp.1676-1697.
Teague, B., Gorton, M.D. and Liu, Y., 2020. Different pitches for different stages of
entrepreneurial development: the practice of pitching to business
angels. Entrepreneurship & Regional Development, 32(3-4), pp.334-352.
Ippolito, L.M. and Adler, N.J., 2018. Shifting metaphors, shifting mindsets: Using music to
change the key of conflict. Journal of Business.
Mejía-Arauz, R. and et. al., 2018. Collaboration or negotiation: Two ways of interacting suggest
how shared thinking develops. Current Opinion in Psychology, 23, pp.117-123.
Konijnendijk, R., 2021. Playing dice for the polis: pitched battle in Greek military
thought. TAPA, 151(1), pp.1-33.
Faff, R.W., 2021. Pitching research®: A comprehensive resource center supplement. Available
at SSRN 3018939.
McMakin, T. and Fletcher, D., 2018. How Clients Buy: A Practical Guide to Business
Development for Consulting and Professional Services. John Wiley & Sons.
Balakhonskaya, L.V. and Balakhonsky, V.V., 2021, April. Pitching as a Communication
Technology and Pitch as a Tool for Investor Relations in the Digital Environment.
In 2021 Communication Strategies in Digital Society Seminar (ComSDS) (pp. 166-172).
IEEE.
Hamacher, L., Ormiston, J. and Iren, D., 2022. Unpacking collective judging practices in
entrepreneurial pitching competitions: a social practice perspective. In Research
Handbook on Entrepreneurship as Practice. Edward Elgar Publishing.
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Raderstorf, T., 2019. Building and Pitching Your Plan. Evidence-Based Leadership, Innovation
and Entrepreneurship in Nursing and Healthcare: A Practical Guide to Success, p.349.
Online
Unilever, Statius management services settle pricing dispute, 2016. [Online ]. Available
through:< https://www.just-food.com/news/unilever-Statius management services -settle-
pricing-dispute/>
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