Negotiation and Deal-Making – An
Interview with Dr. Teresa E. Hairston
Today, I will be writing on the Art
of Negotiation and Deal-making with Dr. Teresa E. Hairston. Dr. Hairston started her publishing career in
November of 1989 with a four-page newsletter called “The Gospel Score”. The issue focused on Gospel music. According to Hairston, with no background in
publishing and just $300, “God made a way out of no way”. She turned her newsletter into a glossy
magazine and people began to call her and find her to buy advertisement in her
magazine. Since then, Dr. Hairston has
moved forward. In 1991, she relocated
her family from New York to Nashville, where gospel was striving. In 1992, she launched another publication
called, Scoreboard, a Gospel music industry trade publication. In 1993, she quit her job and went fulltime
with the magazines. In 1995, she changed
the names of the magazines, Score became “Gospel Today” and Scoreboard became
“Gospel Industry Today”. Gospel Today
has expanded its from an emphasis on music and ministry to all aspects of the
Christian lifestyle. The magazine became
a phenomenal success and became the official publication for a host of
Christian organizations. In 1996, Dr.
Hairston founded the Gospel Heritage Foundation. Its’ role is to educate people on the Gospel
legacy and help teach aspiring Gospel artists about the industry and encourage
them to succeed. These efforts are
being realized through the annual Gospel Heritage Praise and Worship
Conference. In 2002, Dr. Hairston
relocated the headquarters of Gospel Today to Atlanta. Dr. Hairston is a minister of the Gospel,
hosts the “Gospel Today “TV Show, and the “Gospel Today Update” Show on the ABC
Radio Network or “The Light” Radio Network.
She is also the author of two books, The Pursuit of Purpose and Make
Your Vision Vivid.
Dr. Hairston’s favorite scripture
is Romans 8:28, ”And we all know that all things work together for good, and to
those who love God, to those who are called according to his purpose”.
I felt she would be a perfect
example of an entertainment executive that no doubt uses negotiations and deal
making in every aspect of her businesses.
I interviewed Dr. Hairston on the following questions and here is a
transcript of the interview:
1. Dr.
Hairston, what type of negotiator do people say you are? “People would say that I am a honest,
straight forward type of negotiator with integrity.
2. Have
you ever in negotiated with a person or persons who were hard to deal with,
made you angry, or you had a misunderstanding with but you still had to
maintain a relationship with this person? How did you go about separating the
person from the problem? “‘I would try
to find out what their interest were and build on that. I would not enter into a deal that would not
be advantageous for me.”
3. How
do you deal with negotiations with artists or business partners that have a
different perception on the issue than you do?
4. “ Well, you will always have people who will
have different perceptions but always try to make them happy in the deal”.
5. If
a person you are negotiating with sticks to his or her position and doesn’t
want to make concessions, what would you do?
“Sometimes a deal can’t be made. If it doesn’t work out maybe God didn’t want it
to. You have to look at it as a learning experience. It is like a relationship. Sometimes at the beginning it looks like it
will work out, but down the road it doesn’t work. Don’t take it as a failure or a loss. With experience, you will get better at
it.” Maybe that wasn’t the right
business or artist to work with in the first place. I believe in God and if it were meant to
happen it would happen. Sometimes you try and push a deal and it turns out in
hindsight it wouldn’t have been the right deal.”
6. Have
you ever lost your emotions in a deal?
“
Yes, I have because I am only human, but I try hard to separate the issue from
the person and stay focused on the goal in front of me.”
7. Have
you experienced dirty tricks in negotiations?
“Yes,
I have experienced dirty tricks like people making promises they can’t keep or
over promises. You have to be careful
and watch out to make sure the person you are negotiating with can follow
through.
8. Have
you ever used a Best Alternative To A Negotiated Agreement (BATNA)?
“When
you go into a negotiation, you should already know what you want out of the
negotiations, so you will know what to consent to and what not to. If it is not going to be beneficial to you,
then you should shut down negotiations.
9. If
there is one piece of advise you would give me as a student of entertainment
business in regards to negotiations and deal-making what would it be?
“
I would tell you to always negotiate with integrity and try to find a mutual benefit for both sides involved”.
Thank you very
much Dr. Hairston for taking time out of your busy schedule to talk to me
today. It has been very educational and
insightful.
Reference:
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