Tuesday, May 14, 2013

Trump Style Negotiation: CH7--Information is Power: Become the Expert on the Topic You're Negotiating

Actual Knowledge v.s. Apparent Knowledge

   These are two main types of knowledge in negotiation. Actual knowledge is what you actually know. It sharpens your edge in any negotiation. You need this knowledge to support your position. And, you need this knowledge to find out weaknesses and strengths of the other side. 
   Apparent knowledge, on the other hand, is pertained to aura of legitimacy. If people believe that you are an expert, they will believe you, even if you are actually not an expert. You can explicitly claim to be an expert, or you can implicitly using buzz words in order to make the other side think that you know what you are talking about. And, perhaps most importantly, be confident in what you are doing.
“People are inclined to give you the benefit of the doubt until they have compelling proof to contradict that belief.” 

Things You Need to Know About Actual Knowlege

Accuracy is Key

You need to have accurate actual knowledge. Otherwise, the other side will assume that all information you share are the fake one. For example, when using statistics, do not just blindly use the average. Make sure that the underlying assumption matches with the negotiating context. Source of Actual Knowledge You can obtain actual knowledge from various source. If you are knowledgable, feel free to use your experience. If you are not, find references to support your knowledge. These references can be information from reliable source or even from the Internet. It can also come from an expert on the subject you are focusing on.

Talk to People on Your Side

This can be your boss, your subordinate or your spouse. These are people who can help you gather knowledge and set up constraints such as time and money. This communication is quite vital.
“You also need to be aware that when a negotiation fails, it is usually caused by people on your side, not the other side.”

Things You Need to Know About Apparent Knowlege

“Actual and apparent knowledge add up to amazing insight.”
  1. Actual knowledge can be less important than apparent knowledge. You don’t have to be an expert to look like one. Sometimes, what’s more important is the credibility. If you know the mentality and how other side works, you can use that information to improve credibility. When you have established credibility, you might not even need actual knowledge because the other side would believe what you say without any proof. 
  2. People in the same industry have something in common but they are not identical. You can use your experience to deal with people in the same industry. But be aware that they are not the same. They might react differently. 
“If you listen well, and are open-minded in your discussion with the person on the other side, you will broaden your knowledge. Everyone can learn something from everyone else. And, you will definitely be smarter going into your next negotiation, and those that follows.”

Book or Audiobooks?

Personally, I prefer audiobooks. It's fun, and I can listen when I'm doing something else. It also makes other activities (e.g., jogging) a lot more fun. For more detail about audiobooks, please read [this post].

There is one more reason that may encourage you to go for the audiobook version. You can get it now for FREE. Audible offers you a free trial for 14 days. Even if you get the book and cancel the subscription right away (so that you don't have to pay), you can keep the book. And, don't worry if you lost the audiobook file. Just log into audible.com. You can keep downloading the over and over again.
About the summary: It takes time to finish up a book. And, when you do, sometimes, you want to review what you learn from the book. If you do not make  notes as you read, you might have to go through the book once again. This can be time-consuming when you are dealing with a book. But you can still flip through the book and locate what you are looking for.

However, when the material is an audiobook, it is extremely hard to locate a specific part of content. Most likely you will have to listen to the entire audiobook once again.

This book summary will help solve the pain of having to go through the book all over again.

I am leaving out the details of the books. Most books have interesting examples and case studies, not included here. Reading the original book would be much more entertaining and enlightening. If you like the summary, you may want to get the original from the source below.

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