In today’s episode, we cover negotiation with Barry Nalebuff. Barry is a Professor at Yale where he has taught negotiation, innovation, strategy, and game theory for thirty years, and recently authored Split the Pie: A Radical New Way to Negotiate, which is based on his negotiation course.
Negotiating can be intimidating if you don’t do it on a regular basis, so what simple tips can you remember to make your next negotiation a win, how do you negotiate with people who are clearly more experienced than you, and what is the best question to ask when negotiating your salary?
What to Listen For
- Introduction – 0:00
- What’s the difference between Split the Pie and Never Split the Difference?
- How to negotiate with unfair people – 10:55
- What can you do to negotiate with people who don’t care about fairness?
- How can you “be ready to walk away” from a once-in-a-lifetime deal?
- Dealing with people who don’t see the win-win outcome – 21:10
- How do we use empathy to get the other person’s perspective and come up with a deal that satisfies both parties?
- How much information should you disclose in a negotiation if you’re worried the information might be used against you?
- How to build your negotiation skills – 35:30
- What can you do to develop your negotiation skills?
- How can you get the other party to see the pie you’re negotiating over?
- What advice should you avoid when negotiating?
- Negotiate the salary you deserve – 44:08
- What questions can you ask so you know how to ask for the best compensation package without losing the offer?
It is important to remember that the goal of any negotiation should be a mutually beneficial agreement, aka the pie. Both parties need to feel like they’ve won something and achieved their goals in order for negotiations to be successful. If you can walk into a negotiation with empathy and an understanding of the other person’s perspective, you’re already on your way to building better skills. What have been your biggest challenges when negotiating? Let us know in the comments below. We would love to help!
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Resources from this Episode
- Split the Pie by Barry Nalebuff
- Co-Opetition by Barry Nalebuff
Check in with AJ and Johnny!
