Tuesday, June 4, 2013

Trump Style Negotiation: CH13--Dos and Dont's of Skilled Negotiators

DOs


  • Do trust your instinct: We develop instinct from our experience. We learn from history. And, when a pattern is about to repeat, your instinct will tell you what to do. This doesn’t mean that you can be lazy and ignore the information. It does mean that you just can’t ignore your instinct.
  • Do adapt your style to suit each negotiation: Find your style--the one that fit your background (e.g., personality, education) most. Use it and adapt it to fit the negotiation. 
  • Do coach your advisors to say as little as possible, of course, unless you ask them to do so.
  • Do aim high within realistic limits. If you set the price to be very high, you will have to justify it. Define your ‘zone of uncertainty’ which is the range of outcome that you feel comfortable settling down within (e.g., 35,000 -- 45,000, or 1--3 weeks). Start with the highest aim and retract when necessary.

DON'Ts

  • Don’t talk about your weaknesses.
  • Don’t believe in bogus theory (e.g., a lie by the other side). If what the other side tells you is true, they wouldn’t wasting their time convincing you. They would just show/prove it to you. So, you should just walk away, telling them that you are not interested at the moment. But, if the other side does have a better deal, may be you can reopen the negotiation again.
  • Don’t use all the power you possess. Don’t push the other side to the wall. This is not the last deal in your life. You need people to remember you as a nice person to deal with. Protect your reputation. People in your field will want to deal with you.
“If you think about it, how often have you heard about someone who losing out on a good deal and not being able to find another one shortly thereafter.”
  • Don’t waste your time negotiation for worthless things. There’s no right price for the wrong items.
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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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