The Best Way to Win a Negotiation, According to a Harvard Business Professor | Inc.

Deepak Malhotra, Harvard professor and author of 'Negotiation Genius,' shows you exactly how to approach and win any negotiation.

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[raresmardach]

The negotiation tweaks:

1. Hold a negotiation strategy meeting
2. Don’t reward people for coming up w/ the right strategy; reward people for good arguments
3. Asses what happens to you if there’s “no-deal”. Focus on what happens to them if “no deal”
4. Negotiate process before substance
5. Normalize the Process
6. Think about all the questions you need to ask the other side. Then add 10 more to the list
7. Ask the right questions. Asking “Why?” is 10x more important than asking “What?”
8. Prepare in advance for the toughest questions they may ask you.
9. It has been said that “whoever makes the first offer loses”. I completely disagree.
10. Never let you offer(numbers)speak for itself. Always tell the story that goes with it
a. We are asking for X because ...
b. We are asking for X, here is our model, analysis, assumptions
c. The richer the narrative, the story the more the number sticks
11. Label your concessions.
a. Zoom out – as negotiator manage the attributions made of you
12. Avoid mindless haggling ... by negotiating multiple interests simultaneously
13. Next time, don’t make an offer. Consider making multiple offers simultaneously
14. Initial reactions matter. If their offer is unacceptable, waste no time in conveying this.
15. Understand & respect their constraints. Why might the be rejecting your legit demands?
16. Beware. What looks like irrationality is usually ignorance or interests you don’t understand.
17. Write their victory speech for them.
18. Ignore ultimatums,
19. Only make ultimatums if
a. You will follow through
b. You’ve exhausted better alternatives.
20. Don’t let negotiations end with”no”. They should end with yes, or with an explanation fo why not.
21. Follow phone calls and meetings w/ emails to
a. Confirm
b. Reframe as needed – us more language around your perception
c. Gather more information – what the process is, with whom to talk next etc.
22. Always tell the truth.

[Obecox]

After watching this video, I was able to close a deal with my mom to make my sister wash dishes instead of me.

[nicaiads]

I'm not sure I've ever seen a more comprehensive YouTube video I've needed to log in my head.

[Preeti]

I'm blown away by his content! Engaging. Simple. Powerful.

[johnbcollier]

My negotiation professor from 15 years ago at HBS! Amazing insight here. One thing that always stuck with me from his course is that the best way to improve your position in any negotiation is to improve the quality of your alternatives. I've tried to incorporate this throughout my career. If I have a deal in the works (or new job, new investor, etc) I try to find at least one similar alternative option that could be compelling and work that deal as well. The process of working multiple similar deals simultaneously helps to expose blind spots in deal structure and also provides real leverage in a negotiation because you have a real alternative option.

[shreyajain]

I'm bowled over by his knowledge, engery and enthusiasm. Thankyou for this session.

[thenailbooth]

I've gotten a lot of value from this. What I learned from this was to go into a negotiation thinking "we both want the same outcome, how can we get there whilst safeguarding both our interests?"

[thomasshakelton]

Probably the best talk on negotiation I’ve seen

[cesargil]

One of the most profitable and sensible presentations I've seen recently.

[hamish]

1. Make multiple options
2. Always make a plan
3. Always think from the opposite site and find the flaws in your offer
4. Make it about them not you
5. Always think and understand what if we dont get what we want
6. Do not consider the opposite side irrational

[ahmedatteya]

It almost feels like when negotiating, there is a science and a knowledge for it. I feel as if you impacted the person you negotiated with (human interaction), in such a way, where the person loves what you said, and because of so, reflects and remembers, and also sincerely accepts your offer (because of successful business interactions/negotiations)- these qualities seem to be a good foundation for negotiation. The science of it seems that a human and another human interact (human interactions), until they negotiate. This would lead me think that human interaction is important to study and understand because it applies for both parties and unusable if one party does not come to an agreement in regards to the negotiation.

[irenepoletti]

Hi Tai, I enjoyed your "Jungle trip". Just celebrated my 92 birthday and still think about how to make a good living. I was in the rental business, flower shop, and restaurant businesses. I didn't know anything about running a business, but had a lot of fun doing it. I found out that having money does not bring happiness. I still dream about making lots of money, but I'm thankful to bath and dress myself. I enjoy reading, writing and cooking. Sincerely, Irene (Nye, Ogden) Poletti

[joywilliamson]

This was excellent information. I could’ve used tip #19 last week. But I did use tip #14 and I had to respectfully decline a job offer. Thank you!😊

[adebowaleadedamola]

This is so insightful to winning in life and not just business.

[seanathanify]

Truly mind blow, so happy to break my conventional idea of a successful negotiation

[elizabethadedokun]

This is pretty insightful, and enlightening even after five years. Thank you so much. This is a huge help.

[denvernonis]

very clear . story telling type . precise to the type . gifted teacher . keep up your good work .

[BadrMub]

To summarize, he says negotiation is little business but more psychology

[Er.Sunil.Pedgaonkar]

Good. Not only economic or monetary but other considerations too may drive negotiation. Language both verbal & non-verbal is very important in negotiation. Also, one coming out of negotiation doesn't mean loosing credibility.But breaking legal bond or contract may cause one to loose his/her credibility & even invite legal dispute

[abdulrazak]

Powerful and effective techniques presented in a easily comprehensible manner. Thanks Prof.