Key Messages
How Negotiation Skills Can Help You In Life: Learn From Jazz Musicians And Have A Flexible Strategy
With The Art of Negotiation, you can learn how to become an awesome negotiator.
Negotiation is an important part of any career, from sales and banking to getting that deserved pay raise or buying a new home.
In this book, you’ll learn about having the right map for success, picking up tips from jazz musicians on negotiation tactics and understanding why flexibility is key.
You’ll also discover how to set the stage for successful negotiations, what questions to ask yourself before beginning a negotiation session and how to acquire the necessary skills for building trust with your counterpart.
These chapters will give you the confidence you need when entering into negotiations so you can maximize your chance of walking away as a winner!
The Power Of Knowing Where You’Re Going: Using Maps To Achieve Success In Negotiations And Life
If you want to be successful in negotiations, the key is to make sure that you come prepared with a map.
Having a plan beforehand gives you the confidence and control necessary to ensure your desired outcomes.
This map should begin by defining your ultimate target or “stretch goal”, along with multiple baselines – or minimum acceptable outcomes – just in case your stretch goal isn’t accepted.
Baselines are essential because you have to take into account the other party’s goals which may not align with yours.
Take for example the hypothetical salary negotiation: if your desired salary of $120,000 is not approved, then it’s important that you have a few baselines – such as $100,000 yearly salary or $90,000 plus stock options – up your sleeve.
It’s obvious how having a road map can help simplify negotiations and also give one a sense of direction and assurance for whatever may come after it has gone awry.
This was demonstrated through an incident in the 1930s when a lost military patrol unit in Swiss Alps was saved after finding a map in their pocket – even though it was not actually of the Alps!
So remember, while preparing and having a plan is the best way towards success when it comes to negotiations, you don’t necessarily have to stick to it at all time.
Being flexible yet decisive will allow you to navigate during any situation!
Preparation Is Essential For Successful Negotiations, But Flexibility And Creativity Are Just As Important
It’s essential to thoroughly prepare yourself before any negotiation, as you wouldn’t make a recipe without preparing your ingredients first.
Ask yourself questions such as “When is the best time to negotiate this particular deal?” and “How likely is it that we will come to an agreement?”.
Doing so will help you decide how much effort to put into a certain deal – if it seems very unlikely, chances are the resources would be better spent elsewhere.
You should also consider all potential scenarios and have a Plan B in case things don’t go according to plan.
To illustrate this point, the author of The Art of Negotiation uses the example of a small business owner who wanted to expand his business by buying another company, but realized that his offer was too low.
Instead of scrapping the entire idea, he offered to sell his own company at a profitable rate.
This shows how retaining flexibility can open up opportunities for you even when things don’t go as initially planned.
How To Prepare Emotionally For Negotiation And Stay Alert During The Process
When it comes to successful negotiations, having a strong mental and emotional foundation is of utmost importance.
While the circumstances may be out of your control, your response to them should not be.
Professional negotiators may have the knack for putting on a poker face, but that doesn’t mean they don’t get nervous too.
It’s this ability to better control their emotions that sets them apart from ordinary people.
To embody the kind of traits that make for good negotiators—such as being calm and alert, patient and proactive, practical and creative—you need to choose an emotionally strong state of mind in any given situation.
Being aware of the kinds of circumstances that bring about negative emotions will help you avoid them altogether.
For example, if you find yourself becoming frustrated when stuck in traffic jams then plan extra time into your day when schedules involve negotiating sessions.
Good negotiators also take pains to stay away from autopilot—because what you’ve used before might not always be just as effective now.
To stay vigilant against slipping into routine mode start listening more attentively than usual; which means listening not just to what your counterpart says but also how they say it and their body language.
All these tips taken together will ensure you’re ready for whatever negotiation situation comes your way!
How To Improvise And Think On Your Feet For Negotiations: Learn From Actors And Jazz Musicians
If you want to prepare yourself for the unexpected surprises that can happen in negotiation, you should harness your inner actor or jazz musician!
Treating negotiations like improvisation is key.
For actors, improvisation means focusing on spontaneous and impromptu interactions and never saying “no”.
When someone offers something you don’t agree with, work with it rather than just shut it down.
Relax under pressure and don’t look for the perfect answer – trust yourself and come up with a good answer even if it isn’t ideal.
Jazz musicians present a great example of improvisation too!
They create music without even needing sheet music as they understand how to listen, adapt, influence each other using melodies and rhythms.
In negotiations, this translates to paying close attention to subtle cues like tone of voice or anxiety techniques– understanding what the other party wants is essential.
Without this awareness, any agreement won’t be successful.
So remember- don’t hesitate in improvising during negotiations by thinking like an actor or listening like a jazz musician!
It may sound daunting but once you familiarize yourself with these techniques, they become second nature allowing you to quickly and confidently maneuver any negotiation successfully!
The Relationship Between Chess And Negotiation: Experience And Foresight Lead To Success
Foresight and good observational skills are invaluable when it comes to making good decisions.
This is especially true in chess and negotiation where experience matters.
Take the psychological experiment mentioned, for example, that tested professional chess players’ ability to recreate a random arrangement of the chess pieces on a board.
Professional players did no better than the average participant due to lack of experience with such a setup.
However, when the experiments were repeated with arrangements from an actual chess game, the professionals excelled due to their past experiences and knowledge helping them recreate the board correctly.
The same concept applies to negotiation—your ability to interpret counter-offers or moves can only be strengthened by your experience and past knowledge—which grows with each negotiation you handle.
Alternatively, you can develop these skills by reading books on negotiation, participating in workshops, or simply observing others negotiating often.
Good foresight is also essential when considering options with greatest benefits that have probability of success in negotiations (or in games), but it doesn’t guarantee the best outcome as there’s always the chance that your opponent will anticipate your moves and make you work around them – meaning you have to be able to think on your feet too!
All of this reinforces why developing both foresight as well as quick-thinking improvisation makes for great decision makers both in negotiations and playing games like chess.
Make The Best First Impression Possible To Succeed In Negotiations: The Yes-No-Yes Approach
It’s no secret that the first few minutes at the negotiation table are some of the most important.
After all, this is when you make your initial impression and establish the atmosphere of the negotiation.
Your goal should be to make sure that you exude confidence and positivity, which is why it’s important to be aware of how you communicate and carry yourself during these early moments.
For example, take care with what words and phrases you use.
Rather than making statements like “I need to do X,” aim for phrases like “Let’s solve this problem together.” Also, pay attention to your body language – stand up straight and don’t cross your arms as crossing them can signal a lack of trust or a closed off attitude.
It’s also essential to remember that in giving a response whether to accept or reject an offer while still maintaining the relationship between both parties.
If the offer isn’t workable but might have room for improvement, then it can often be worth continuing on with negotiations.
Alternatively, if their offer is unacceptable try using the yes-no-yes approach where both parties come out more satisfied in the end.
This way, you remain true to yourself without alienating them as well.
Thinking Creatively And Consider All Types Of Value When Negotiating Are Essential For Successful Negotiations
It’s amazing what can happen when you approach negotiation with creativity and a fresh perspective.
The potential for resolving otherwise seemingly unsolvable problems is boundless.
Consider the example of the writer commissioned to write FDR’s biography — his 1400-page manuscript was rejected, but he later found another publishing company that split it into two volumes.
This allowed both volumes to be successful, and it all hinged on the second publisher’s willingness to think outside the box.
The research bears this out as well — people are better problem solvers when they are removed from the situation and offer advice to others.
Therefore, it is paramount that we bring outsiders into negotiations to offer some valuable insight.
Sometimes money is not enough to make compromises work in a negotiation either.
Long-term security can often sweeten deals where money may seem insufficient.
For instance, if a basketball player feels like their salary is low during negotiation, they may be willing to accept a longer contract as compensation for less money up front in order for them to have more job security!.
In short, many seemingly unsolvable problems can be solved with creativity and a fresh perspective – you just need the right mindset and tools!
The Keys To Convincing Your Negotiation Partner: Honesty, Loss Aversion, And Keeping It Simple
Now that you’ve put in all the hard work leading up to the negotiation, it’s time to close the deal.
Before anything else, remember to always be honest and polite.
This will not only help you close a successful agreement but will also ensure that your negotiation partner is more likely to come back for future deals.
When attempting to close the deal, make sure to emphasize loss more than any positives.
Studies have shown that people are far more likely to agree with you if you focus on what they might lose by not making the agreement rather than what they could gain from it.
It’s also important to keep things simple in order to reach a successful outcome during negotiations.
Offering too many options can confuse and throw off your negotiation partner as research has proven this often results in fewer deals being made.
By following these rules for closing a deal and keeping honest and polite in every step of negotiations, you will build better relationships with those around you and ultimately achieve maximum success when negotiating future agreements.
The Ethics Of Negotiation: Treat Others How You Would Want To Be Treated
It’s important to remember, when negotiating, that the way you act should always be in line with your personal values, and that you should treat others as you would like to be treated.
For example, if a kind elderly woman has a beautiful little house for sale at a surprisingly low price, even though you know you could easily afford it, make sure to still ask specific questions about the condition of the item before making a decision.
Most people will tell the truth when asked directly.
On the other side of things, if you are selling something and have potential buyers inquiring about it, always consider what information you can provide them with.
But keep your point of view in mind—would you recommend someone does the same as you in this situation or vice versa?
The bottom line is that others will remember how they were treated during negotiation forever―so act accordingly, according to your own personal values and treat others as you would want them to treat yourself!
Wrap Up
The Art of Negotiation is a great way to gain essential skills and strategies when it comes to negotiating.
The key message from this book is that no two negotiations are the same, so the ability to think on your feet and improvise when necessary is a must-have.
It provides useful actionable advice such as taking some time for meditation each evening as studies have shown that it can help reduce stress and increase problem-solving skills, both of which come in handy for successful negotiations.
If you’re looking for ways to hone your negotiation skills then this book should definitely be at the top of your list!
