Observation Station

Art of Negotiation: Mastering the Deal

September 12, 2023 Episode 50
Art of Negotiation: Mastering the Deal
Observation Station
More Info
Observation Station
Art of Negotiation: Mastering the Deal
Sep 12, 2023 Episode 50
Ever wished you could steer any conversation your way? Today's episode gives you the guidebook to do just that. We're pulling back the curtain on negotiation and exploring how you can leverage emotional intelligence, cognitive biases, and anchoring strategies to your benefit. Don't miss the brilliant nuggets derived from Chris Foss' 'Never Split the Difference' as we break down how to accurately read emotions and maintain a cool head under pressure. If you've ever had to navigate the intricate dance of international business, you'll appreciate our discussion on cultural nuances and unspoken rules that can make or break a deal.

But hold on, there's more! We're shifting gears to find the funny side of life. From everyday moments to family gatherings, we're reminding you to slow down, savor the joy, and pass around the laughs. This episode is a shout-out to life's little pleasures, the importance of support, and the delightful decision of where to go for dinner. The principles we share today aren't just about business — they're about life. So, join us as we navigate life's complexities with a dash of humor, a sprinkling of insight, and a whole lot of fun!

Support the Show.

Observation Station +
Become a supporter of the show!
Starting at $3/month
Support
Show Notes Transcript Chapter Markers
Ever wished you could steer any conversation your way? Today's episode gives you the guidebook to do just that. We're pulling back the curtain on negotiation and exploring how you can leverage emotional intelligence, cognitive biases, and anchoring strategies to your benefit. Don't miss the brilliant nuggets derived from Chris Foss' 'Never Split the Difference' as we break down how to accurately read emotions and maintain a cool head under pressure. If you've ever had to navigate the intricate dance of international business, you'll appreciate our discussion on cultural nuances and unspoken rules that can make or break a deal.

But hold on, there's more! We're shifting gears to find the funny side of life. From everyday moments to family gatherings, we're reminding you to slow down, savor the joy, and pass around the laughs. This episode is a shout-out to life's little pleasures, the importance of support, and the delightful decision of where to go for dinner. The principles we share today aren't just about business — they're about life. So, join us as we navigate life's complexities with a dash of humor, a sprinkling of insight, and a whole lot of fun!

Support the Show.

Speaker 1:

Do you ever lift your head up from your phone, look around and think to yourself my God, everything is weird. Well, we do a lot. This is the Observation Station, a unique, entertaining and hilarious podcast. If we observe it, we talk about it. Anything and everything, anything and everything. Let's get weird and let's have some fun. This is the Observation Station and now your host, tommy Heights.

Speaker 2:

Hey, how's everybody doing today? So wanted to welcome you back to another episode of the Observation Station, the podcast, where we delve into the complexities of life, business and personal development. I'm your host, tommy Heights. Today we have a particularly insightful episode that promises to equip you with the skills and strategies you need to excel in any negotiation scenario. So we're diving deep into the art of negotiation, mastering the deal.

Speaker 2:

Start of the segment here is going to be the psychology of negotiation. So let's kick things off here by exploring the psychology behind negotiation at its core. So negotiation is a dance of human behavior. It's about understanding the motivations, fears and aspirations of the other party. So a great book on this, if you ever have a little bit of time, which everybody should is Never Split the Difference by Chris Foss, the FBI negotiator. He goes over all of these different real world scenarios that he was involved in, or other people or colleagues that he has worked with obviously colleagues, so just different scenarios they've been in with terrorist groups, different people were taken hostage. It's unbelievable how, in the highest state situations of somebody's life, that you can just try to bring things to a calm halt while keeping control by giving the illusion that the other party that is trying to get the money or has the hostage is trying to get from you. So emotional intelligence is crucial. Being able to read people's emotions and reactions can give you a significant advantage. But it's not just about reading others, it's also about managing your own emotions. So keeping a level head and maintaining composure can often be the difference between a successful negotiation and a failed one.

Speaker 2:

Let's talk about cognitive biases. Confirmation bias, for example, can make us focus only on the information that confirms our preconceptions. Being aware of such biases can help you navigate the negotiation more objectively. So some things when it comes to cognitive biases is just some things that you're thinking about. So if you see something on TV and you always think this person is associated with this, that's a cognitive bias and it's just like a confirmation. There's different ways that our eyes and ears might trick us. By all the times we've been told this is what that thing signifies.

Speaker 2:

The other approach is the tactical. So now the tactics. One of the most commonly used strategy could be the anchoring techniques. So the first offer sets the range for the rest of the new negotiation. But you have to be cautious. A poorly chosen anchor can also backfire.

Speaker 2:

And another essential thing here is that a lot of times if you don't read your business colleague or whoever you're trying to do business with correctly say, if this person has a language of wanting to have a very calm approach and you come in very aggressively, they're not gonna like that. I've made that mistake in when I was doing health insurance calling in the Southern States. I have a demeanor of trying to get things done in bottom line. And what are you looking for? Da, da, da, da? Where they like to just have it. Where they're talking about how's your day, they have no care of trying to go through the protocol of A to Z as quick as possible in a very efficient manner. They're trying to figure out what are you having for dinner tonight. It's like, oh my God, this has nothing to do with getting your health insurance. All you're thinking about is getting it where you just hear what they need get them the plan, sign them up and move on to the next one.

Speaker 2:

Rinse clean, repeat because all this other nonsense. It's not a business, when you're doing the telemarketing on the phone, to be gaining client knowledge, like as if you were a financial advisor, which would make sense to say, okay, I need to know what kind of sports teams my clients like, because these are the people that I get to meet with and I get to talk to them when we're at a dinner party or something like that hey, how are the Yankees? Et cetera. So many times it's just not a thing that has to be too difficult, but you have to be mindful of who you're talking to and find what is the language that they speak. Do they like just getting straight to the point or do they like to have it where it's more of a casual conversation as a friend? It's not a battlefield all the time, but the aim is not to defeat the other party but to find the mutual beneficial solution and the essence is a win-win approach where both parties at the table are satisfied. Not only that has to be put into the back of your head.

Speaker 2:

Cultural nuances based on if you're even in doing international business, which I've had to do on Zoom calls, that's a different factor also. It's not just time difference Culture plays a significant role in the deal. So, coming from a Hispanic and European background, I've observed firsthand how cultural differences have unique approaches in the negotiation. So in some cultures, being direct and to the point is valued. That's like on my German side. So while in others, building a relationship is the first step before any business can be discussed. That is the Latino side. So understanding these cultural nuances can be a game changer, especially in the international business settings.

Speaker 2:

It's not just about speaking the language, it's about understanding the unspoken rules and tradition that govern behavior and expectations. So I'm trying to do different ways of business, especially when I'm on a Zoom call with different people, especially if you have multiple different cultures on the phone, where it's best to be neutral that way that nobody is offended. I know nowadays you try to even do your best by not offending people and it just happens to be where you can only do what you can do. So don't try to think too hard into it. Do the best that you can and know your audience and understand that no matter what you try to do, somebody might just find that it's like, oh well, they shouldn't be saying that you gotta do what you gotta do. You gotta be practical. So that's what it comes down to. You can apply these principles in real life, whether you're negotiating a business contract, discussing your salary or deciding where you wanna go for dinner. These skills are universally applicable.

Speaker 2:

The key is preparation, understanding and willingness to find common ground. So preparation is not about just knowing your numbers. It's also about understanding the other party, and research, active listening and asking right questions can provide you with invaluable insights. Trust me, being inquisitive is one of the best things to do. It makes it just seem to certain people that you care, and that's actually what happened to me at a job that somebody told me Tommy, you know, really you have it where you come up to me and you just ask questions. That's how I know you really care to get better, because no one really wants to care to get better. They just come in, do what they need to do and just go home and that's it. But you really wanna do it where you just go a little bit more each day and I really can respect that. Something to that way of complimenting me really makes it feel at least you're doing something right.

Speaker 2:

Many times in this world, so much is given to you on a direct form of reprimands. That shit is terrible. Hey, put that down. What the hell are you doing, man? Look at this crap, da-da-da-da-da.

Speaker 2:

You get so much negativity in this world when it comes to people trying to talk to each other, sometimes even in relationships, the going back and forth where somebody will say I think the thing that never has gotten me more rubbed the wrong way than when somebody says agree to disagree, that shit just rubs me the complete wrong way. When you say agree to disagree, all you're literally putting is on your forehead. I am just the biggest pain in the ass to deal with in life because that person is going to always, without a shadow of a doubt, have it where they think they're always right, always agree to disagree people. I've dealt with these folks For whatever reason. It's always that they're right. You could say, hey, one plus one is two. No, well, you know who says, who Says math. Well, I can tell you something here. It's like what? Well, we're gonna agree to disagree and some other things too.

Speaker 2:

People say that doesn't help your argument or debate, you don't have to be arguing. There's people that say that helping your argument. Well, that's a person that's argumentative. If you have it where maybe you just want to be bringing up a point or a validity question, of saying, hey, is this working right now, instead of saying no, that's just crap. Right now, we're not gonna be taking your advice.

Speaker 2:

Why is everybody so angry all the time? Just try to have it where there's collaboration amongst people. It's not always let's agree to disagree. We need to compromise. You know you're right Sometimes I'm right.

Speaker 2:

Most of the time, everybody just feels like they have to be the king and queen all the time, in every millisecond of a situation Doesn't have to be that way. Just try to find common ground so that everybody can work along with each other. I don't see that happening too much right now in modern times. It's more like backstabbing, kind of hey, whatever it is, I'm gonna feed my family. Screw you and everything that has to do with you if it comes between me and you and there's no common ground where people say, hey, look this guy, he's been working hard doing what he needs to do, doesn't bother, anybody Never comes in late. That's what you need in life. You need people that are common ground kind of folks. A lot of things are extreme now, so it's not one or the other. Can't stand in the middle because people say that if you're neutral, you're just kind of an indecisive person. We don't like people that can't make decisions. It is what it is. Too much right now is stressful.

Speaker 2:

Take a step back, breathe in, breathe out. Make sure to figure out what it is that you want in life and make it where let's find where it's a win-win situation. Whoever you need to speak to figure out what it is that you want, what it is that they want, and is there something that you can find that can be beneficial to both of you, instead of just a one-way street. That is mastering the deal, start of the negotiation, the whole point of life, selling yourself. It comes down to this. Everything is sales, not knowing how to make it where it's an enticing proposition you're giving, everyone's gonna throw it out of the window by whatever you're trying to tell them that you want them to do, or help you out with. Saying this guy gives no value in life, what the hell am I gonna help him or her out with? You know, make something of value that you can do for people and help them out while you're getting yourself assisted. Don't make things too hard in this life. Make some leverage, find some value, provide it to others. They'll provide it back. It's a circle of life, everybody.

Speaker 2:

So, before we sign off, I just wanted to give you a sneak peek into the next episode, which will be the Rhythm of Life, dancing and I'll just go over some of my dance experience do a lot of freestyle dancing and the Bachata and Salsa I did in Columbia. Bring some of that into the next episode with a little bit more perspective on where I'm gonna be going in my dance. I don't wanna say career, but I'll look at some events up to try to meet some people there, because it's always fun trying to get some music going, letting your expression out, meeting new people and trying to give you the better techniques on how to move and flow. Look, it's a win-win situation. Coming back to the mastering the art of negotiation, so all right guys. Well, thank you here to join me on a Tuesday. Can't wait to see you guys on Friday for the next episode. And, with that being said, you guys take it easy.

Speaker 1:

You've been listening to the Observation Station. We find everyday life and everyday situations hilarious. We hope you've enjoyed the show. We know we had a blast. Make sure to like, rate and review, and be sure to tell a friend about the show. That would help too. See you next time on the Observation Station. Veel v.

Mastering the Art of Negotiation
Observation Station in Everyday Life