I often talk and hear about trust in negotiation as a key element to ensuring you achieve the outcome you desire. In a past episode of Negotiations Ninja podcast, I spoke with Keld Jensen, internationally recognized expert and advisor on negotiation and behavioral economics, about the importance of trust in negotiation. I believe we take trust for granted in negotiation. Business often comes down to numbers. Trust is a belief, an emotion. Many feel our…
Developing Negotiation Skills
As an entrepreneur, you may be asking yourself the question, “Why should I develop my negotiation skillset?” This is a fair question, especially with the constant focus on scale and growth the entrepreneurial mindset demands. Although, as Samuel Dinnar explains in this episode of Negotiations Ninja, the ability to negotiate is an essential tool in an entrepreneur’s toolbox. In fact, negotiation is present in all aspects of entrepreneurship. To put it simply, entrepreneurs have to…
Negotiate the Process
So much can be said for preparation in negotiation, but even if you prepare, study, and have your questions ready, you can still hit a brick wall if you don’t negotiate the process, understand and set expectations, and agree to next steps. It’s quite dangerous to walk into a complex negotiation and begin shooting (even if you’ve prepared) without first discussing and agreeing to process on the things that will be negotiated, the sequence, and…
Time Pressure In Negotiations
Time is money. What does that even mean!?! Well in negotiation, it can be take a few different ways. The most common way that time is used in negotiation is to extract large amounts of concessions out of the other party. REQUEST: Please don’t use this tool I am about to teach you, unethically. Just because I’m teaching it to you, doesn’t mean you should impose this tool on all of your negotiations. It’s powerful,…
Concession Planning In Negotiation
“Why in the world would you plan what you will give away before you go into a negotiation? Surely you shouldn’t be planning to give away anything or very little. I mean this just seems silly.” This was the feedback I got from one student a few months ago. And before you either agree with the person or cast off the statement as trolling, let’s give him the respect he deserves and dig into what…