This blog captures notes, thoughts and ideas of Tobias Wessels from Germany who graduated in May 2000 with a Masters in Economics from the University of Fribourg, Switzerland. Tobias worked in the financial services industry, two Start-ups and Venture Capital. He was awarded the Chartered Financial Analyst (CFA) designation in 2005. After earning an MBA from the Darden Graduate School of Business in 2007 he moved to Silicon Valley where he works as a Financial planner in a technology company.
Saturday, March 15, 2008
Clips from Negotiate to Win
The wise negotiator frequently chooses not to negotiate.
"It's my bottom line" is the biggest lie in negotiations.
Only when the other side doesn't move any more can you be sure they're truly at their bottom line.
Never say you're at your bottom line unless you are.
Nobody likes having their first offer accepted.
Schmoozing is the last refuge of the weak negotiator.
It's better to bring things up now, when you've got some leverage, than later when you don't.
Never shave a concession. Either make the whole concession that you've supposed to make, or don't make any concession at all.
The krunch is the simplest and most frequently used tool in negotiating.
A krunch is the only way to respond to an unreasonable offer.
Every concession has a price, but krunches cost nothing.
Only the final handshake seals the deal. Until then, all issues remain open.
Never stick with an issue that's not working. Skip it and move on to something else.
The nibble is negotiating's equivalent of a layup.
Always persuade first. Negotiate only when persuasion fails.
Face is humankind's third rail. Touch it and die.
Win-win negotiating is mandatory because the other side survives the talks.
Don't make a concession without seeking something in exchange.
Try to avoid saying "no" to the other side. "Yes, if..." is better.
If you ask for more (without reason) you'll get more.
Your opening offer should be assertive but never ridiculous.
Nibbling is part of doing a complete job as a negotiator.
Sometimes people find satisfactions in strange places.
Creativity is the most fickle and capricious tool in negotiating.
The value of the concession to the other side is what matters.
Setting your Envelopes is your most important homework task.
Separate the people from the problem. Be hard on the problem but soft on the people.
We make more concessions to friends.
The quicker the deal, the greater the risk.
The more authority you have, the more concessions you'll have.
Always negotiate with the highest authority person you can get access to.
Bosses give away the ranch.
It's where you open, not when, that matters.
Teams are inherently dangerous, and the bigger the team, the greater the risk.
Being outnumbered means you're in a target-rich environment.
1 comment:
Anonymous
said...
Hey Tobias,
Glad you liked the Thomas's Truisms you quoted from my book, Negotiate to Win (HarperCollins 2005). I'm happy to see them on your blog. I need to mention that they're copyrighted and really shouldn't be republished without attribution (which I'm now doing) and permission (which I'm granting to you personally).
Tobias, I can't believe you included a cartoon with a "BATNA" reference right next to my material! One of the primary goals of Negotiate to Win was to serve as a practical antidote to the impractical academic nonsense that is Getting to Yes.
1 comment:
Hey Tobias,
Glad you liked the Thomas's Truisms you quoted from my book, Negotiate to Win (HarperCollins 2005). I'm happy to see them on your blog. I need to mention that they're copyrighted and really shouldn't be republished without attribution (which I'm now doing) and permission (which I'm granting to you personally).
Tobias, I can't believe you included a cartoon with a "BATNA" reference right next to my material! One of the primary goals of Negotiate to Win was to serve as a practical antidote to the impractical academic nonsense that is Getting to Yes.
Cheers,
Jim Thomas
jthomas@negotiatetowin.com
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