Venture Capital, Intl Digital Video

Venture Capital, Intl Digital Video

The queen of tech VCs reveals the two things you need to become a killer negotiator

The queen of tech VCs reveals the two things you need to become a killer negotiator (via @CNBCMakeIt)

9/27/2021 11:53:00 AM

The queen of tech VCs reveals the two things you need to become a killer negotiator (via CNBCMakeIt)

Eileen Burbidge, founding partner at Passion Capital, shares her career-defining lightbulb moments in CNBC Make It's 'My Biggest Lessons.'

05:1727 minutes agoAs one of the most prominent venture capitalists on the British tech scene, Eileen Burbidge has had her fair share of high-stakes negotiations.Burbidge is a founding partner at London-based Passion Capital, which has invested in some of the U.K.'s hottest start-ups, including Monzo, Tide and GoCardless.

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"Negotiation skills are so important," Burbidge told CNBC Make It. "This doesn't mean that everyone's necessarily going to be negotiating million-dollar deals. There are negotiations that we all have to undertake each and every day."

Whether you are negotiating with your boss, peers or your children, Burbidge says there are two main things you need to be an excellent negotiator."You have to know when you're willing to walk away and be willing to walk away, because if you're not, you'll have no negotiating power or leverage whatsoever," Burbidge said. headtopics.com

While Burbidge highlights the knowledge of one's own worth as a primary tool in the exchange, the ability to stand in an opponent's shoes is a close second."It's important, even if you don't want to be kind, to understand what that other person is going through so that you can try to maximize that situation," she said, "whether it's going to be for a collective good or to try and negotiate against them."

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