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Lynn Price’s Three R’s of Negotiation, Ep #240

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What are people afraid of when it comes to negotiation? How do you build confidence in your abilities? What are the three R’s of negotiation, and how can it impact your success? Overcoming your fears and developing confidence go hand-in-hand—but how do you conquer them? Lynn Price—Speaker, Author, Consultant & Attorney—covers all of these topics in this episode of Negotiations Ninja.

Outline of This Episode

  • [1:35] Learn more about Lynn Price
  • [2:18] The concept of fear in negotiation
  • [4:09] How to overcome your fear
  • [8:25] The background on the three R’s
  • [13:41] Which “R” is the most important?
  • [15:06] How to build confidence in negotiation
  • [18:16] The concept of relatability
  • [22:10] How to pivot when you’re flustered
  • [23:57] How to learn more about Lynn

The three R’s of negotiation

Because of the high volume of contract negotiations that Lynn has worked on, she quickly learned to see themes and formulas. She chose to have a growth mindset and learn from her mistakes. To get better at this, you need to remain humble enough to see where you screwed up, admit it, and figure out how to avoid it in the future. So she implements the three R’s in every negotiation. You must be readyrelatable, and reasonable.

#1: Be Ready

You have to do your research, prepare, and prioritize. If you come into a negotiation and say, “Here are five things; I have to have them,” that’s not a negotiation. That’s just threatening and demanding. You have to have your asks prioritized. Know your subject matter and be ready to engage.

Lynn believes if you can only choose one of these R’s, it’s that you must be ready. You have to know what you want, prioritize your asks, and know your subject matter. If you don’t, it will be apparent to your counterpart, and you’ll get run over. Everyone has been there where you think you know enough, you get asked a question, and you’re like, “Yep, should’ve known that.” It’s hard to recover if you’re not prepared. Being relatable and reasonable just isn’t enough.

#2: Be Relatable

It’s simple, but it’s true: people help people they like—so you have to be relatable. Engage and be relatable, but don’t fake it. If it’s not true, people will sniff it out immediately. Inauthentic attempts to be relatable won’t go over well. Even if you’re just being responsive, that makes someone feel good. It shows that you’re valuing their time and energy. An authentic connection will go a long way.

Can you make yourself more likable? If you have nothing to authentically connect on, what can you do? Lynn emphasizes that you need to talk to people in a respectful tone and be upbeat. Ask them questions to learn more about where they are, their current situation, etc.

What if someone is being intentionally obtuse and avoiding those personal connections? Listen to the episode to hear Lynn’s take!

#3: Be Reasonable

Lynn’s third R is all about being reasonable. She emphasizes that you need to focus on a solutions-based negotiation. People want to work with you, so you need to find a solution that meets all the parameters. If someone says no to one thing, maybe they’ll say yes to another. You have to take a holistic view of the whole negotiation. Can you find wins for you or your client to make an overall good deal? Lynn doesn’t want people to hear “reasonable” and think “doormat.” Being reasonable means you can still be aggressive and forceful when you’re negotiating for what you want or need.

To learn how to be more relatable, assertive, and confident in your negotiations, listen to the whole episode for some of Lynn’s tips!

Resources & People Mentioned

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