1️⃣ Avoid Positional Bargaining

• This is when you are negotiating for ONE outcome. Involved parties come together and it’s either A or B.

• Instead, use Principled Negotiation - When involved parties are looking for a mutually beneficial reality. Parties come together and become problem solvers that are creatively working together.

  • You’ll need to know the needs of the other involved parties.

  • You’ll need to know what alternative solutions would be beneficial.

2️⃣ Agree as Often as Possible

• When people say “No” they tend to mentally set themselves against any kind of agreement. 

• Agreeing with one another creates the opportunity for further partnership and more creative problem solving.

• You can even latch onto criticism and redirect it to attack the problem.

  • Ex: “I agree with your point, but have you considered how X is a contributor to that problem?”

  • Ex: “I understand that you care about A,B,C. I do as well, and that’s why I truly believe X is a valid solution.”

3️⃣ Demonstrate Active Listening

• When people feel unheard it makes them more antagonistic, and more prone to think their way is the only way.

• Mirror the other person by genuinely summarizing what they have said or repeat the last 3 words shared.

• A connected concept: Negotiations are always better when there has been trust cultivated. Refer to last week’s issue of T+P!

  • 🤝🏼 Formula for Trust

4️⃣ Use Calibrated Questions

• Get the other party working with you by asking them to do some creative thinking for your side of the negotiation.

• “Why” Questions: Have the other party ponder WHY for YOUR position.

  • If you ask someone to answer WHY to backup their own position, they are more likely to dig deeper and be less accommodating.

  • Instead you want them to consider possibilities on your side, and consider if they have missed something.

• Summarize the Problem + Ask the other party for a Solution

  • This shows you desire solutions and want to be cooperative.

  • Additionally, it gets the other party considering your position and how they themselves can be part of the solution, instead of just thrusting the issue upon you.

5️⃣ General Tips for Money Negotiations

• Use ranges, odd numbers, and use non-monetary benefits as negotiation options.

  • Ex: You want $80K

    • “At comparable companies this position goes for $80-$110

      • You should make sure you enter the negotiation with actual data…

    • When pressed to give a specific number: $82,400

• Let the other party go first, otherwise you might unknowingly undercut yourself.

🌟 TOP PICKS

A few resources that influenced these notes, some of the terminology has come directly from these resources.

How to Talk to Anyone - General Tips for any Conversation
How to Win Friends and Influence People - General Tips for Conversation and Leadership
Never Split the Difference - Negotiation
Getting to Yes - Negotiation

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In all toil there is profit, but mere talk tends only to poverty - Proverbs 14:23