Useful Commute:Negotiation Genius (11 Min)

This talk give insight to how have success in negotiations from the author of Negotiation Genius. A lot of tips are given within the 11 minutes, below are the usual notes
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The key to negotiation success
1st key to success: Preparation
Three point to prepare before negotiation:
1. Identify all the stakeholder (in meeting or not)
2. All of the alternative of each side
3. Looking at all the interest of all parties

You need to put yourself into the other’s shoe
- Their Needs & case
- Their Priorities
- Their interest & get them going
- What are the constraints?
- What are their perspectives?
Think of all parties & figure out solutions & Alternative

2nd key to success: Listening
People talk too much & Listen too little: Since we go in with a prepared set of arguments to convince the other side ‘How it should be’
-> Instead listen to the other side’s perspective.

You might be arguing a case over & over again, while the other party is constrained on an item.
If you don’t consider this, you would be stuck arguing instead of creating a solution or alternative.

Once you understand what they are up against, then you are in a better position to get solutions that they can offer.
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Day to Day/Salary Negotiations
Think systematically during such negotiations, the sit down with your manager & make your case clear:
- Think about what you want get & state it upfront
- Everyone's value proposition are different
- What are the Barriers?
- What are the statistics to prove my case?

People might not even take consideration of what you value
-> Frame your case early on.
(Example: Customer satisfaction v.s. Sales #)

Take control of the situation & justify your demand/case
(Example: 'Here is what I think is fair & here is the info why…' using statistics)
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Catch Lies in Negotiations

People don't like lying, but they have no problem giving the wrong idea
Example:
Q: Is this the lowest price you can give?
A: I had never ever given a lower price! (This is a misleading & it didn’t answer the question)

Listen carefully to the answer they are giving & not giving
- Are they avoiding telling you the truth?
- Is you question clear or focus?
- Do I need to ask deeper question?
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When Not to Negotiate
There are situation when negotiation is a bad idea:
1. The negotiations would ruin the relationship
2. If everyone knows you have a best alternative is horrible
3. Not the right time, when negotiations losses your position or offer
(Example: A great work/job opportunity of with low salary
… It might be a good idea to negotiate a future time to do a negotiate to re-evaluate)
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Key Summary:
Most cases, how valuable THEY think we are much less than how value WE think we are, since:
- We overvalue our contribution
- They have other priorities instead of only thinking about youSo state clearly & justify your demand with statistics.