In this episode, Brian and Dan explore the limitations of negotiation soft skills and the challenges of scaling them within organizations. They delve into the difficulties of relying on psychological tactics and the need for a more methodical approach to negotiation. So, if you're ready to challenge your beliefs about negotiation and learn the truth behind effective negotiation strategies, tune in to Everything You Know About Negotiation is Wrong on Close Mode.
[00:01:52] Negotiation training involves establishing desired outcomes. It includes tactics like the flinch, where reacting subtly can make the other party think they've overshot.
[00:03:52] Negotiation is like a dance, a psychological warfare to get the best deal. It requires soft skills and expertise.
[00:07:11] Failing to address the core issue of negotiation, even with extensive experience and partnerships, results in a continuous struggle to select the right approach. The challenge lies in determining which arrow to employ in response to the opponent's moves, as there are numerous options available. This process becomes virtually impossible and seems rather overwhelming. It's intriguing how even seasoned individuals, like myself, fell into the trap of creating solutions based on mistaken diagnoses. Having recognized this flaw, I eventually chose to part ways with my Harvard partner, as their approach only perpetuated the same ineffective pattern.
[00:12:49] Organization wanted fuel escalation clauses in contracts. The organization we worked with was a fleet rental company. They desired more fuel escalation clauses in their contracts to shift the risk back to the buyer and balance the risk as gas prices fluctuate. They received training on how to incorporate fuel escalation clauses into contracts, leading to a significant increase in the number of deals with such clauses, from 20% to almost 80%. This had a profound impact on their profit margins, as noted by the CFO. This differs from mere tips and tricks.
[00:14:28] 97% probability in sales forecasting impacts planning.
See a Solution Overview and how we help teams close strong.
