The Art of Negotiation

Title: The Art of Negotiation
Date: 2007-10-31
Speaker: Stan Christensen (Arbor Advisors)
Link: Entrepreneurial Thought Leaders
Conventional wisdom about negotiation is often wrong.
Almost all negotiations in life repeat (you see the person more often than once) yet most people negotiate as if it is a one time deal.
Natural talent helps with negotiation but education helps a lot.
There is hope for everyone in being effective at negotiation.
Tactics shouldn’t be your primary method of negotiating.
Figure out how to expand the pie as opposed to just dividing up the pie.
Be open to questioning your assumptions.
People that spend time together have a hard time not questioning their assumptions.
Fundamentally negotiation is about how to have relationships and manage them effectively.
Criteria are objective standards that are independent of what either side wants.
Precedent is always a criteria you can use.
It is important to base your agreement on things that are objective not just what one party wants or another party wants.
Listening isn’t just a nice thing to do. It can be extremely persuasive in negotiations.
People often have more in common than they think.
Agreements are worked out within the context of relationships.
If you’re good at relationships you’re good at negotiation.
There is no objective measure of success in the War on Terror.
Most people don’t systematically prepare for negotiations which is a big mistake. There is a direct correlation between how much somebody prepares and how well they do in negotiations.
Never lie and there are no exceptions.
Can you get stuff done? If you’re trustworthy it is easier to get stuff done.
Apologize more. It doesn’t cost you anything.
It is much easier to find out what you can do and what you can change than what they can do better and they can change.
Stay in the game.
Give them extra. There are always opportunities in negotiations to make it a little bit better for the other side. People are surprised and reciprocate.
You can make it better for them without making it worse for you.
If somebody is going to lie to you then the last thing you want to do is attribute something to them.
Always have a BATNA (Best Alternative to a Negotiated Agreement) going in.
There are a lot of gender differences in how people approach negotiation.
Look at issues as a package rather than going issue by issue. Look at negotiations as packages of issues.