Summary of How to get what you want every time

Key Strategies and Tips for Getting What You Want Every Time

1. BATNA (Best Alternative to a Negotiated Agreement)
   • Know your best alternative before negotiating.
   • Having strong alternatives gives you leverage and confidence.
   • Use multiple bids or offers to increase your BATNA.
   • Negotiate only when you have options, e.g., employees should negotiate when they have other job offers.
   • Psychological power comes from knowing you don’t have to accept a bad deal.
2. Anchoring
   • The first number set in a negotiation heavily influences the outcome.
   • Always try to anchor high (or low, depending on your position) to shift the negotiation range.
   • Use incremental moves strategically to show willingness to move but not too much.
   • Don’t fear leaving money on the table; sometimes it’s better to anchor low and make the other party feel comfortable.
   • Use Anchoring in both initial offers and counteroffers.
3. Multiple Equivalent Simultaneous Offers (MESO)
   • Present two or three offers at once with different terms and prices.
   • This helps reveal the other party’s priorities without directly asking.
   • Allows flexibility and shows willingness to accommodate.
   • Encourages collaboration to find a win-win solution.
   • Can be used to combine the best parts of each offer into a new deal.
4. Reciprocity
   • Give something first to encourage the other party to reciprocate.
   • Trade concessions in small increments across multiple variables, not just price.
   • Identify many variables (e.g., speed, risk, terms, financing) to create value and trade-offs.
   • Use Reciprocity to maintain goodwill and build long-term relationships.
   • Be aware that Reciprocity norms vary by culture.
5. Framing
   • Position your offer as an investment rather than a cost.
   • Frame negotiations around returns and benefits rather than expenses.
   • Use data and examples to support your Framing (e.g., home improvements adding value).
   • Reframe the other party’s offer to highlight costs or overhead to gain negotiating power.
   • Effective Framing changes the perception and increases acceptance likelihood.

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Additional Notes

• Negotiation is not zero-sum; aim for mutually beneficial outcomes by understanding differing priorities.
• Prepare thoroughly by identifying all variables you can adjust in a deal.
• Use psychological insights and real-world examples to guide your approach.
• Always have alternatives and don’t rush into deals without leverage.

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Presenters / Sources

• Speaker: Experienced business negotiator from acquisition.com
• Mentors and real-world business experience
• References: Harvard Business School (BATNA), London Business School, Journal of Personality and Social Psychology, Daniel Kahneman (Nobel Prize winner)

Notable Quotes

— 12:04 — « Negotiation is never a zero-sum game because people have different needs. You want to interlock the things that matter most to each person to create a positive sum game. »

— 15:27 — « Breaking your offers into many different pieces allows you to trade more times and make small concessions without changing your price. »

— 18:19 — « Framing is most important for employees and vendors. Position yourself as an investment, not a cost. »

— 19:22 — « Rather than saying 'this will cost you five grand,' say 'for a $5,000 investment you can see $15,000 in maintenance cost savings.' It's the same thing but far more compelling. »

— 20:10 — « When you add a pool to your house, you're really just taking money from one pocket and putting it in another. You get to enjoy the pool the whole time. »

Category

Wellness and Self-Improvement

Video