New research from Professor Shirli Kopelman finds “first movers paradoxically feel less satisfied” with their results despite empirical evidence that, in price negotiations, making the first offer often leads to better results. To temper this unhappiness,...
The headline, People Do Business With People They Like, on Forbes.com recently reminded me that building rapport is also very important when negotiating. In his book, Influence: Science and Practice, psychologist Robert Cialdini calls this phenomena the Liking Rule...
One way we use to decide how to behave in a given situation is to observe how others are behaving. Put another way, we take the actions of those around us into account when determining our own actions. This is the Principle of Social Proof and it’s especially...
Chelsea, an English Premier League soccer team, has made two offers to competitor Manchester United to acquire the services of striker Wayne Rooney. The first was for about £20 million and the second for over £25 million. Manchester United rejected both. Chelsea has...
Yesterday, Treasury Secretary Jack Lew, in a letter sent to lawmakers, warned the federal government will run out of money to pay its bills on Oct. 17th at the latest. What is the impact of this impending deadline on the debt ceiling and government funding...
When evaluating whether to make the first offer in a negotiation, here are several factors that support doing so: 1) Your side traditionally makes the first offer; 2) You have sufficient information to determine an appropriate starting point; 3) It will substantially...
Here are some of our favorite blog posts (and a column) with good negotiation advice for the holiday season: Family Negotiations and the Holiday Season – Negotiation tips for avoiding family conflicts during the holidays; Black Friday and Social Proof –...
In a previous blog, we identified the top ten characteristics of competitive negotiators. As a follow-up, here are three negotiation strategies to implement when your counterpart fits the profile of a competitive, hard-nosed, adversarial, ego driven, risk-taking,...
Tips for Negotiating with Accommodative Counterparts In our last post, we shared several tips for negotiating with competitive counterparts. Here are three negotiation strategies to consider when your counterparts’ style is more accommodative,...
Walkouts Present Risk in Negotiation Strategies Donald Trump has walked out of so many negotiations near the end – purely as a negotiation strategy – that the “Trump walkout” has become one of his trademarks. Editor’s Note: this article was published November...
They offered him $15 million for his software company, and he said “No.” So they offered him $25 million, and he said “No” again. Finally, they asked him what it would take. “My board will not accept anything less than 3 million shares (worth about $45 million),” he...
“If we only had a little more time, I’m sure we could have reached a deal. We were so close.” I can’t tell you how many times I have heard a variation of this “we were so close” statement. Every time, the speaker sounds sincere. Almost every time, they’re wrong. Why?...
