10 Lessons I Learnt about Negotiation JayWSalon, Feb 2013, Stanford GSB

#1: Know the Real Cost of Not Negotiating

#2: Rules? Says Who?

Process whereby two or more parties decide what to give and take in their relationship, and through a process of mutual influence, to a common course of action.

Negotiation

#3: Prepare, Prepare, & Prepare

#3: Prepare, Prepare, & Prepare

Self Opponent

Interests

Issues

Alternatives

Reservation Price

Aspiration Price

Sources of Power

Opening Move

#4: Interests, NOT Positions!

#5: Not Always a “Fixed Pie”!

#6: Bring More Value on the Table

#7: Maybe Yes, Maybe No

#8: Don’t Underestimate Your Power!

#9: Aim HIGH!

#10: Be Fair or Rational?