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We’ve all experienced it. That nervous, unsettling feeling right before we start to negotiate. Leading up to a negotiation, most of us expect conflict. We expect to have to give up valuable things that we don’t want to lose. But does it have to be that way? The answer is sometimes. But in any case, the Massachusetts Institute of Technology recently found that those who are able to channel the nervous energy of a negotiation are able to achieve better results than those who can’t. On this episode, Kurt and Steve discuss a few ways for doing this and some of the implications it will have for the future study of negotiation.
Kurt and Steve also discuss the concept of “reciprocal concessions” as it applies to negotiation. Can we strategically plan what we will give up and when in order to produce a more favorable negotiation? Absolutely. The key points are first establishing with the other party what you already agree on. This commits them more to the process and lowers their resistance. When you feel like the person you are negotiating with is going to say no, try to avoid it. Try to get them to commit to as many other things as possible. As this happens over time, the chances that they will eventually say “yes” to what was once “absolutely not” go up dramatically. It may not happen right then and there, but it could happen later. Patient negotiators who understand this always win. As the old saying goes: in negotiation, when a person with money meets a person with experience, the person with the experience ends up with the money…and the person with the money ends up with the experience.