Automating Negotiation in Procurement
The ideas of machine learning and artificial intelligence are terrifying for many people. But, the boundless potential of technology is exciting, especially when it can add to efficiency in our work. Does this mean the world will be taken over by robots? No. But where machine learning and artificial intelligence can play a role in making people’s jobs more comfortable, there is mostly upside. On the latest episode of Negotiations... Read more
Applying Negotiation To Daily Life
I’ve said before that the ability to negotiate well is a skill that can be learned over a lifetime. An important part of that learning is application. Taking what you learn out into the world and applying it to situations outside your field or what you’re used to will only help enhance what you know and show you new sides and perspectives. This is what Shane Martin, a recent guest... Read more
Negotiation, Poker, and Philosophy
There are countless books, studies, and essays written about negotiation techniques and strategies. The topic has had significant time and effort donated by experts across all industries. Negotiation often goes hand-in-hand with other hobbies and activities, poker being one of the most prominent examples. High-level poker players are often incredible negotiators, as they are masters of probability and human behavior. Mike Caro, my recent guest on Negotiations Ninja, is the... Read more
Developing Trust in Negotiations
I often talk and hear about trust in negotiation as a key element to ensuring you achieve the outcome you desire. In a past episode of Negotiations Ninja podcast, I spoke with Keld Jensen, internationally recognized expert and advisor on negotiation and behavioral economics, about the importance of trust in negotiation. I believe we take trust for granted in negotiation. Business often comes down to numbers. Trust is a belief,... Read more
Can You Push a Negotiation Too Far?
Can You Push a Negotiation Too Far? You can push a negotiation too far and its dangerous to do so. If you push a negotiation too far and you push the other side too hard and too fast, you risk not only losing the deal, but also isolating and distancing potential future business. Relationships are critical in the world of negotiating and knowing when to stop grinding is critical to... Read more
How to Use Time Pressure In Negotiations
How to Use Time Pressure In Negotiations Folks, it sounds obvious to say that time is money. We all hear this saying all the time. But in negotiations, we can use time pressure in negotiations to extract large amounts of concessions out of the other party. Don't Use This Time Pressure Tactic For Evil Please don't use this tool I am about to teach you, for evil. Just because I'm... Read more
Turning On The Like Switch
Mastering behavioral science is the key to mastering negotiation. Nearly everything humans do is based on insecurities and ego: namely the opinion of self and how others view us. Identifying and manipulating insecurities is the most efficient method to reach a favorable resolution in a negotiation. Friendship and rapport can be built and used to collect information that the other side would likely guard in a normal situation. My past... Read more
What To Ask For When Asking For A Raise
What To Ask For When Asking For A Raise Want more money in your job? Ask for more money when asking for a raise. "But Mark, it's not that easy,.....you don't understand,......you've never worked in my industry,.....i really want this job,....blah blah blah." Nonsense!!! Granted, people get intimidated by the idea of negotiating salaries when they get a new job, but it's so critically important!!! Remember that last post on... Read more
Negotiating Performance Based Contracts
When hiring a contractor, we often put all the responsibility on them for completing what they are being hired to do, without any harm to our businesses. This is a fair notion, but there are some circumstances where we have to assume some responsibility to allow the contractor to do what we need them to do. This is the concept behind performance-based contracting. In a past episode of Negotiations Ninja,... Read more
Always Ask For More In Negotiations
Always Ask For More In Negotiations As the famous Roger Dawson said: This is the golden rule of negotiating! “Always ask for more than you expect to get.” should be tattooed on the inside of your hands so you never forget. These types of simple golden rules are so basic that sometimes we forget about them and take them for granted and often we don’t even think about why it... Read more