Friday, May 17, 2013

Trump Style Negotiation: CH8--Keep Multiple Solutions in Mind: Remain Flexible and Creative About What You Need and Want


   
“You always have negotiation power, if you can force yourself to walk away from a deal, either temporarily or permanently.” 

Alternative

Sometimes, negotiation will create deadlock. You need to calm them down and be open-minded. Then, invite him to listen to your ‘alternative’ that both of you can live with. For example, if the other side want $100,000, you may ask ‘how about $20,000 for five consecutive years?’ 



Raising or Lower Your Voice

One technique when the other side is raising the voice is to lower your voice. The other side will have to listen to you more attentively. Say something like “Just hear me now. I think you’re gonna like my idea.”

Plan Your Alternative Ahead of Time

Try to enter a negotiation with more than one objective. You will have more flexibility. Preconceive a range of acceptable outcomes, and plot the plan to react to your adversary’s move.

Be Smart and Flexible

Plan your discussion. Think of what you can give and what you can’t give. Plan your negotiation such that what you can give away come up first. When the major item comes, ask for it. You should also keep track of things and make documentation.

Bottom Line Definition

“The frustrating and fascinating thing about negotiation is that there never is a right or wrong way to proceed.”
Define what you and the other side really need. Some may want to have money. Others may need to have recognition or excitement. You need to find out about these bottom lines.
“If, after reading this book, you think that you now have all the answers for any negotiation situation, think again.”

Different Kinds of Flexibility

Financial bottom line isn’t just the upfront cash. You should consider other options such as payment term, marketing budget, quality of products. People tend to forget about these options and focus too much on upfront cash. That just limits your flexibility.

Short-term v.s. Long-term Benefits

Most people focus on short-term. You can exploit this human nature. Let go of short-term benefit in order to get a better long-term deal.

Dead Dog on The Table Strategy

Create a condition which is not acceptable and fight badly for it. Then, give in. Next, present an alternative which is what you want. Make documentation about this. You may have to give away both. But, you will have a list of concessions you gave away in your hand for future negotiation. 

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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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