How Do You Negotiate Without a Budget?

Inside this conversation

Daniel Duty is the founder and CEO of Conlego, a negotiation consulting firm, and we spoke about how entrepreneurs can create better deals by understanding what the other side actually wants. After working in the U.S. Senate, General Mills, and Target, Daniel built his career around strategic negotiation. His turning point came at 27, when he negotiated a deal to feature Michael Jordan on a cereal box despite having almost no budget. Instead of discussing money, he asked, "why are you here?" and discovered that Jordan's representatives valued prestige, legacy, and recognition. That insight helped both sides reach an agreement for very little money.

Daniel explains why negotiation should begin with curiosity rather than demands. He believes preparation creates 70% of the outcome and recommends six practical habits: prepare thoroughly, lead the meeting, share information, ask thoughtful questions, listen carefully, tell a compelling story, and persuade rather than argue. As he puts it, "Sharing more information actually opens new doors and creates new opportunity." He also explains how his company helps retailers and consumer brands build negotiation capabilities through training, coaching, structured processes, and AI-powered tools that compare supplier proposals, identify missing opportunities, and recommend next steps. His central principle is simple: "don't argue. Instead, persuade."

For entrepreneurs negotiating with suppliers, partners, customers, or investors, Daniel offers a practical way to move beyond price battles, uncover shared interests, and reach agreements that create more value for everyone involved.

Key takeaways

• Prepare thoroughly; Daniel estimates preparation determines 70% of negotiation outcomes.
• Ask what matters most before discussing prices, demands, or offers.
• Lead negotiations by setting the agenda and establishing expectations.
• Share information openly to uncover opportunities neither side initially considered.
• Listen carefully, manage emotions, and explore what remains unsaid.
• Persuade by connecting your proposal to the other party's stated needs.

Episode description from the official 21CE podcast feed. This text is the show notes, not a full transcript.