An essential skill for all these alternatives is the ability of the entrepreneur to negotiate. Good negotiation involves two tasks. The first task involves determining how the benefits of the relationship are going to be distributed between the parties. The second task is exploring the mutual benefits that can be gained from the relationship. To negotiate in a way that maximizes benefits requires the entrepreneur to use information about one's own preferences and those of the other party to create an outcome that is mutually beneficial. This requires an initial assessment of oneself and the other party and the use of strategies to elicit more information during the negotiation interactions to better inform those initial assessments. To these ends, this chapter offered four important assessments an entrepreneur should make and four strategies that can be used to achieve a successful negotiation