Have you ever sat across from someone at the negotiation table who eventually stops bargaining and instead starts giving ultimatums? I’m referring, of course, to the use of intimidation and fear tactics at the bargaining table: someone who threatens to stop negotiating to begin legal action or damage your character and status. How should you respond when the other side begins issuing threats? The two most common and automatic responses are to offer a direct counterattack or to immediately concede …
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HIA-LI’s mission is to support the growth of Long Island business as well as the heart of our economy – the Hauppauge Industrial Park. By advocating for the economic success of our region, we improve the quality of life for all Long Islanders. It’s a lofty mission, and to succeed we must know how to lead. So it’s fitting that this year, our theme is leadership and ownership. I recently presented “Leading Your Business the Marine Corps Way,” and I’d …
Think you can tell when someone is faking? I’m referring to emotions, of course – and how well you can read a person’s expressions, or fake your own, may make or break your next negotiation. Emotional expression (displaying emotions) is distinct from emotional experience (how you actually feel). According to some fascinating studies, that difference has important ramifications at the negotiation table. In a Stanford University study, Marwan Sinaceur and Larissa Tidens observed that negotiators facing opponents who expressed anger …
Before you take your seat at the negotiation table, invest some time at the breakfast table. That’s the takeaway from research conducted at Cornell University (reported by the Harvard Program on Negotiation) that suggested people feel a greater sense of entitlement when they are hungry vs. when they are not. (The study defined “entitlement” as “the sense that one is more deserving of positive outcomes than other people are.”) In the first experiment, researchers asked students questions as they were …
pow·er /ˈpou(ə)r/nounthe capacity or ability to direct or influence the behavior of others or the course of events Negotiation research is a real thing – and this evolving area of study is fascinating. Recent research has revealed not only some of the key ways that channeling power makes negotiators more effective, but also that attaining that power in the first place is within any negotiator’s reach. After analyzing negotiation research from around the world (sounds like my dream job), the Program on …
Whether you’re a business owner, in sales, a provider of professional services, or a member of just about any profession that deals with the public, you’re going to deal with “difficult” clients. I don’t believe that professionals need (or should) give in to an unreasonable client’s every demand. However, we’re operating in a time when a bad Yelp review can tank your business – so it’s important to have the proper tools, training, and support in your negotiation toolkit to …
When handling an important negotiation, the parties must take it seriously and be prepared. This approach is a must whether you’re negotiating a small business deal or about to engage in diplomatic negotiations. As I’ve previously discussed on LI News Radio 103.9 with Jay Oliver, the United States needs to carefully handle its sit-down with North Korea’s Kim Jong Un and determine a roadmap for the negotiation beforehand. Here’s a great preparation checklist from the Wall Street Journal. 10 Tips for Negotiating with …
Anyone can learn the mechanics of negotiation – preparation, active listening, and knowing your BATNA, to name a few – to become a good negotiator. But it’s not enough to be good. Mastering emotions is the key to effective negotiation and involves not only understanding and taking control of your own emotions, but also those of your adversary. Are you willing to make an investment into the emotional realm to become a truly great negotiator? Negotiation is an exercise in …
As Stephen R. Covey’s groundbreaking business book The 7 Habits of Highly Effective People approaches its 30th birthday, I still find it to be more relevant than ever, particularly with regard to becoming a more effective negotiator. Rediscover this classic – or get to know it for the first time – when preparing for your next negotiation. Here, my take on the seven habits from a negotiator’s perspective: Be proactive. This habit acknowledges that we are all responsible for our own actions. You need …
“Why do today what you can put off until tomorrow,” or even “why put off to tomorrow what you can put off to the day after tomorrow,” go some oft-quoted and well-loved maxims about procrastination. I’ve pulled as many all-nighters as the next guy, but when it comes to negotiation, it’s preparation – not procrastination – that’s your friend. Preparation is key to effective negotiating and is the number one factor that will give you a competitive edge. Here, the …