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Negotiation Genius (7: Strategies of Influence (Highlight potential…
Negotiation Genius
7:
Strategies of Influence
Highlight potential losses than potential gains.
Disaggregate their gains and aggregate their losses.
Door in the face technique.
Foot in the door technique.
Leverage the power of justification
Leverage the power of social proof.
Make token unilateral concessions.
Use reference points to make your offers and demands seem reasonable.
1:
Common Negotiator Mistakes
You make first offer when you were not in strong position.
First offer not sufficiently aggressive.
You talked, but didn't listen.
You tried to influence other party, but didn't try to learn from her.
You didn't challenge your assumptions about other party.
Miscalculation of ZOPA and no reevaluation of it during negotiation.
You made greater concessions than the other party did.
1:
Effective Haggling Strategies
Focus on the other party's BATNA and RV.
Avoid making unilateral concessions.
Be comfortable with silence. That makes them do concessions quicker.
Label your concessions.
Define what it means to reciprocate.
Make contingent concessions. Tie your concessions to specific actions.
Be aware of the effects of diminishing rates of concessions.
First concessions bigger than small concessions.
3:
Investigative Negotionation (7 Principles)
Ask why!
Seek to reconcile interests not demands.
Create common ground with uncommon allies.
Interprete demands as opportunities.
Don't dismiss anything as "their problem".
Don't let negotiations end with a rejection of your offer.
Understand the difference between 'selling' and 'negotiating'.
7:
Defending yourself from Strategies of Influence
Prepare systematically.
Create a scoring system.
Explicitly separate information from influence.
Rephrase their offers in other terms.
Appoint a devil's advocate.
Try to not negotiate under time pressure.
9:
Smart alternatives to lying
Incorporate reputation and relationship costs in your calculus (think long-term relationship!)
Prepare to answer difficult questions
Try not to negotiate or respond to questions while under time pressure!
Refuse to answer certain questions (don't reveal your RV)
Offer to answer a different question
Change reality to make the truth more bearable (eliminate constraints that tempt you to lie)
13:
When not to negotiate
When time is money
When your BATNA stinks and everyone knows it
When negotiating sends the wrong signal
When your relationship might suffer
When negotiating is culturally inappropriate
When your BATNA beats their best offer
1:
Preparing to Negotiate
Step 1:
Assess your BATNA
Step 2:
Calculate your RV
Step 3:
Assess others BATNA
Step 4:
Calculate others RV
Step 5:
Evaluate ZOPA
1:
How to Respond to Initial Offer? (Different Strategies)
Ignore the anchor.
Separate information from influence.
Avoid dwelling on their anchor.
Make anchored counteroffer, then propose moderation.
Give them time to moderate their offer without loosing face. Inform then, give them time to think about it.
3:
How to Elicit Information From Reticent Negotiators
Build trust and share information.
Ask questions - especially if you are surprised or sceptical.
Give away some information.
Negotiate multiple issues simultaneously.
Make multiple offers simultaneously.
9:
Confronting Lies and Deception
Detection
Gather information from multiple sources
Detection
Set a trap
Detection
Triangulate on the truth
Detection
Look out for responses that do not answer the question
Detection
Use contingency contracts
11:
Negotiating without power
Don't reveal that you are weak
Overcome your weakness by leveraging their weakness
Identify and leverage your distinct value proposition
Submit multiple proposals
Lower your bid just enough to get into the second round
Take purchasing agents out of the game
Educate your customers between deals
If your position is very weak, consider relinquishing that little power you have
Strategize on the basis of your entire negotiation portfolio
1:
My First Offer
Keep entire ZOPA in play
Provide justification for your offer
Set high, but realistic aspirations
Consider the context and the relationship
1:
How far can I Push Them?
Step 1:
Exhaust all pre-negotiation sources of information.
Step 2:
Identify your assumptions prior to the negotiation.
Step 3:
Ask questions that challenge your assumptions.
Step 4:
Ask indirect questions to assess their reservation value.
2:
Preparation Strategies For Value Creation
Identify your multiple interests.
Create a scoring system.
Calculate package reservation value.
Identify the other party's multiple interests.
2:
Post-Negotiation Strategies For Value Creation
Step 1:
Acknowledging the already made progress.
Step 2:
Suggest that there are aspects to improve.
Step 3:
"Let's think outside the box."
Step 4:
You are not looking for a new agreement, rather an improved agreement.
6:
Confronting Biases of Others
Incorporate the consequences of their biases in your strategy.
Help others be less biased.
Calibrate information provided by others
Use contingency contracts to resolve conflicts stemming from biases.
9:
Confronting Lies and Deception
Look prepared
(Defense Strategy)
Signal your ability to obtain information
(Defense Strategy)
Ask less threatening indirect questions
(Defense Strategy)
Don't lie ever
(Defense Strategy)
12:
Dealing with anger
Seek to understand why they are angry
Give voice to their anger
Help them focus on their true underlying interests
Sidestep the emotion (control your own emotion)
2:
Execution Strategies For Value Creation
Negotiate multiple issues simultaneously.
Make package offers.
Leverage differences of all types to create value.
4:
Biases
Fixed-Pie bias
Vividness bias
Nonrational escalation of commitment - How to Tackle it?
Preplanned exit strategy
Assign someone that criticizes your decisions
Anticipate and prepare for the escalation forces you might encounter.
6:
Confronting your own Biases
System 2 thinking
Make a sys. 2 list
Avoid negotiating under time pressure.
Partition the negotiation under time pressure.
Learn through the use of analogies
Debrief multiple negotiations simultaneously.
Focus on principles, not particulars by reviewing negotiations.
Adopt outsider lens
Bring in an outsider.
Take the outsider perspective yourself.
11:
Upsetting the balance of power
Increase your strength by building coalitions with other weak parties
Leverage the power of your extreme weakness - They may need you to survive.
Understand and attack their source of their power
12:
Dealing with irrationality
Not seeing:
They are not irrational, but uninformed
Not seeing:
They are not irrational, but have hidden constraints
Not seeing:
They are not irrational, but have hidden interests
12:
Dealing with threats and ultimatums
Ignore the threat
Neutralize any additional threat they might be tempted to make
If you don't find the treat to be credible, let them know