Curb Your Enthusiasm: How Overconfidence Can Kill the Deal (And What To Do About It)

Curb Your Enthusiasm: How Overconfidence Can Kill the Deal (And What To Do About It)

You’ve just left the negotiation table, and you know it went well – it’s in the bag! Except it’s not, and later it turns out that the deal is dead. Confidence is a critical quality in strong negotiators, but too much can cloud your judgment. Consider the steps below to rein it in and ensure your confidence is an asset, not a liability. Embrace the unknown. Sure, you’re a great negotiator, you did your research, and you’re feeling completely prepared

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Renegotiating a Bad Deal

Renegotiating a Bad Deal

Ever negotiate a deal and happily put it to bed, only to have to revisit it months or years later? Every negotiator has ended up with an agreement that no longer suits their needs, or their adversary’s, and must go back to the table to turn the lopsided deal right again. But the dynamics of renegotiation aren’t the same as negotiating for the first time, and renegotiating what you thought was a done deal comes with its own set of

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The Difference Between Empathy and Sympathy in Negotiation (And Why It Matters)

The Difference Between Empathy and Sympathy in Negotiation (And Why It Matters)

The Chinese general and military strategist Sun Tzu famously wrote that the “supreme art of war is to subdue the enemy without fighting.” Using empathy at the negotiation table is the modern-day embodiment of this strategy.  A fundamental human need is to feel accepted, validated, and understood by others. This reality means that negotiation strategy is really about psychology. To get from Point A to Point B, the skilled negotiator must exploit psychological principles – and this means empathy must

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When to Call it Quits in Negotiation

When to Call it Quits in Negotiation

When it comes to negotiation, sometimes you have to just walk away. When a negotiation is going well, and you and your adversary have reached a win-win (or at least a win-not lose) deal, it’s obvious when to stop negotiating. But when a negotiation turns tense or difficult, how do you know when to push through and keep going, or stop and move on? Here are some signs it’s time to call it quits. “It’s just not fair!” It’s human

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Getting the Home (or Away) Team Advantage in Negotiation

Getting the Home (or Away) Team Advantage in Negotiation

You’ve heard all about the importance of preparation, knowing your BATNA, active listening, and other critical tools to maximize your chances of success in any negotiation. But negotiators often overlook a vital aspect of deal-making that could make or break their success: the location. If you think a conference room is just a conference room, think again. Location means far more than the pictures on the wall and the wood color of the table. Whether your exchange takes place in

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You Can’t Hide Your Lying Eyes: Body Language in Negotiation

You Can’t Hide Your Lying Eyes: Body Language in Negotiation

Imagine you walk into a bar and see a couple that’s clearly on a first date. You can almost always tell if they’re interested in each other, even if you can’t hear the conversation. If he’s leaning forward and making eye contact, it’s probably going well, but if she’s constantly checking her watch, the feelings might not be mutual. Body language is an important way for us to pick up on emotions. Though we like to think we base our

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Incorporating the Leadership Lessons of Jack Welch into Your Business

Incorporating the Leadership Lessons of Jack Welch into Your Business

Jack Welch, GE’s larger-than-life CEO for over 20 years, transformed the company into one of the world’s most successful businesses. Revenues grew five-fold, from $25 billion to $130 billion; income grew ten-fold, from $1.5 billion to $15 billion; and the company’s market capitalization had a 30-fold increase of more than $400 billion. How did he do it – and what lessons can we all learn from his leadership style? Welch knew that revolutions begin at the top. He made GE

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How to Deal with Threats in Negotiation

How to Deal with Threats in Negotiation

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 Chairman’s Spotlight – On Leadership and Ownership

HIA-LI Chairman’s Spotlight – On Leadership and Ownership

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

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If It Makes You Happy: Emotional Expression in Negotiation

If It Makes You Happy: Emotional Expression in Negotiation

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

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