Station 4 Negotiation Podcast

04/06/2024

“Greed, for lack of a better word, is good.” That’s an infamous line from the 1987 movie Wall Street, starring Michael Douglas as the high-powered financier Gordon Gekko. But IS greed good?

This week on S4N, Gene explores the double-edged sword of greed and how it impacts your negotiations. Learn common pitfalls to avoid, discover the difference between pushing the envelope vs. pushing buttons, and reverse engineer a high-profile failed deal so that you don’t make the same mistakes. Plus, learn about leveraged buyouts and negotiating with private equity, explore why getting cozy with management is important, and uncover why a bidding war can mean trouble for a deal.

EPISODE 10 OUT NOW.

Find your listening platfom:
https://station4negotiation.com/listen-now

30/05/2024

Strategic misrepresentation of facts, situations, and circumstances rarely does anything but dampen your credibility.

Don't be the person who makes empty promises to get what they want.

Instead, find ways to communicate possibility that manage expectations without making promises you may not be able to keep.

This means, instead of guaranteeing outcomes that aren't yours to guarantee, saying:

"I'd like to give you A. If you can give me B, I'll go back to management and say you're open to getting a deal done and that you're someone we can work with."

Communicate cooperation, but manage expectations. It'll help your deals and your reputation.

29/05/2024

Who are you actually negotiating with?

Negotiations go off the rails quickly without a clear chain of command. Who's doing the talking? Who are they talking to? How many people does the information have to feed through? Is its path through those people clear?

If not, clarify it, or find a way to reduce the number of middlemen between you and your negotiating partner.

The last thing you want is a grown-up version of the game "telephone."

28/05/2024

You don't need to deliver ultimatums or threats to get to a solution. Don't neglect the value of rapport and chemistry. How can you start building trust with the other side? Do you have any common personal interests or a similar personal background to chat about? Are there minor initial concessions you can make to begin “building the bridge”?

23/05/2024

Yes, really.

Think of it this way: trickle, flow, gush.

They start with a trickle. You work hard, you build a bridge, and you get a few concessions.

As you keep working and moving forward, you get more concessions. That's the flow part.

And finally, the gates break open and you get the situation resolved - that's the gush part.

If a gush happens at the beginning, it probably means a pipe is broken.

The best negotiation is a conversation that builds on itself.

22/05/2024

So what should you do?

Instead of fighting fire with fire, take a step back and look for your negotiating partner's other vulnerabilities and interests.

Can you solve another problem first?

Would that make them more amenable to other discussions?

Small wins for them at the start can lead to big wins for you in the end.

21/05/2024

Not every negotiation succeeds.

What happens when a negotiation fails?

The FBI knows a thing or two about that.

EPISODE 9 OUT NOW.

20/05/2024

One of the best negotiating tips a person can get.

The other side is telling you how to get a deal done. You just have to hear what they're saying.

16/05/2024

Want to build a better deal almost instantly?

Aristotle's triangle can help (yes, really).

Ask yourself:
- What common ground can I find with this person?
- How do I connect with them?
- What facts are absolutely irrefutable?
- Are there any holes in my logic?
- What questions can I ask to better understand their position?
- Have I found and corrected errors in this (draft, email, etc.)?
..and watch doing business get easier.

14/05/2024

President George H.W. Bush makes a critical negotiation error in the first 20 seconds of this video.

Can you find it?

Okay, the video title gave you a hint: he looked at his watch.

How is this a negotiation error?

In this debate, Bush is negotiating with the American people, trying to convince them to elect him for a second term as their president - that he is better than the alternatives.

Marissa Hall hands him an opportunity to appeal to Americans' logos, pathos, and ethos all at once. Bush has the chance to deliver an answer that uses logic, displays empathy for Hall, and, in turn, builds his credibility as someone who truly understands the issue at hand.

And he fails.

In fact, he fails before he even opens his mouth to respond.

The president spends much of his response time saying he doesn't understand the question. But, while the question was being asked, instead of listening to it... the president looked at his wristwatch.

Have you ever negotiated a business deal and felt that the other side didn't listen to you? That they didn't understand your perspective?

Did it make you want to do business with them again?

Bush steals a glance at his watch during the town-hall debate with Bill Clinton and Ross Perot.

13/05/2024

Can you do us a favor?

Over the weekend, S4N hit 500 all-time listens.

We're a small independent podcast that hasn't even been around for three months, so we're pretty excited about that!

There's nothing we're more passionate about than helping businesspeople
1. cut the BS and posturing that so often occurs in negotiation
2. get deals done well, and
3. cultivate lasting relationships.

We're so glad you're along for the ride! So: if you like what you've heard so far, could you do us a favor? Could you "follow" and review us on your favorite listening platform? It may seem small, but it really helps grassroots shows like ours get going – and we want to add more people like you to our community!

Here's where to find us:

https://www.station4negotiation.com/subscribe-now

10/05/2024

One way to get an easy leg up in a negotiation? LISTEN.

It sounds simple, but it will automatically put you a cut above 99% of negotiators.

Listening to empathize - not listening to criticize - builds a bridge of trust that helps lead you to a win-win solution. What is the other side REALLY saying?

For more on the ever-important concept of "active listening," check out Episode 8 everywhere you listen to podcasts.

https://station4negotiation.com/listen-now

09/05/2024

Ever wondered how to build a foolproof argument?

Go through this checklist next time you find yourself in a and see how far it can take you!

08/05/2024

In only a couple months, S4N already has listeners in 29 countries and 25 states in the US… and, if you listened to episode 8 out yesterday, that sounds like a lot of places with cool independent bookstores!

Gene found the inspiration for S4N’s most recent episode while sifting through the shelves at Parnassus Books in Nashville, TN. The best negotiators know that information is gold - and one of the best places to find information is still the bookstore. So, let’s help your fellow negotiators out - where are some of your favorite independent bookstores? Here are some of ours:

Parnassus Books– Nashville, TN
Landmark Booksellers – Franklin, TN
Strand Book Store – New York, NY
The Town Book Store of Westfield, NJ – Westfield, NJ
RJ Julia Booksellers - Madison, CT

Add yours ⤵

Gene Killian

07/05/2024

What’s the difference between negotiation and persuasion? How do we persuade others? How do we handle others who try to persuade us? This week on S4N, Gene takes you back to debate class as he examines tactics straight from the Oval Office and breaks down the elements of good – and bad – persuasion.

Learn the difference between critical and empathetic listening, understand what coaches really mean when they talk about active listening, and gain tools you can use when the other side overwhelms you. Plus, apply the Aristotelian triangle to negotiation, learn how to recognize – and avoid – a Gish gallop, and, for something different, show some love to your favorite independent bookstore.

EPISODE 8 OUT NOW. Find your listening platform:

https://www.station4negotiation.com/listen-now

Gene Killian

01/05/2024

The other side is your adviser. Ask them the right questions, and they'll tell you exactly what you need to do - even if they don't say it.

Listen to episode 7 for more: https://www.station4negotiation.com/listen-now

25/04/2024

Remember – negotiations solve problems for PEOPLE. Don't lose the human aspect.

23/04/2024

We’ve all heard the advice “always be closing,” but… should we be? This week on S4N, Gene pushes back on that advice. Join him as he breaks down how to determine your next move, the best way to get implementation buy-in, and, yes, how to get a deal done. Plus, go from novice to pro when using calibrated questions, learn how to make emotional appeals rational, and figure out the experts’ secrets for pointing even the most difficult deals in the right direction. Remember: negotiation is life.

Find your listening platform:
https://www.station4negotiation.com/listen-now

17/04/2024

And your negotiation is suffering for it. You need a diverse team.

15/04/2024

At the very least, it'll make you a better conversationalist who can easily build rapport with the other side. But it will also make you better at thinking through different perspectives.

12/04/2024

What was your favorite observation from this week's episode? The pod team loves this one, taken from Sallie Krawcheck's book "Own It: The Power Of Women At Work."

10/04/2024

Two heads are better than one... if the two heads are thinking differently. Avoid echo chambers and confirmation bias by creating a diverse team. More diversity = more perspective = better risk assessment = better deals.

09/04/2024

What's the relationship between diversity, risk assessment, and negotiation?

What about confirmation bias?

Is it better to work with people who are just like you?

EPISODE 6 OUT NOW.

Find your listening platform: https://www.station4negotiation.com/listen-now

04/04/2024

There's a difference between setting a boundary and delivering an ultimatum.

There's a difference between telling someone you've made your best offer after a hard day's work and telling them to "take it or leave it" early on in the negotiation.

Ultimatums are supposed to be final. If you state one, make sure you mean it and you do it with respect.

Don't show the other side you shouldn't be believed.

03/04/2024

A very unique (and very cute) view on negotiation.

01/04/2024

Negotiations can get heated. You shouldn't.

Listen to Episode 5 – "An Offer They Can't Refuse – Negotiating With The Corleone Family": https://station4negotiation.com/listen-now



Gene Killian

26/03/2024

You've heard "The Godfather" referred to as a classic film, but have you heard it used to teach negotiation?
..okay, probably not. But: movies can teach us a lot about how to construct compelling points when negotiating a deal. What kind of groundwork should be laid for a successful negotiation? Does anger have a place in the negotiating room? Do ultimatums work?

Join Gene this week on S4N as he breaks it all down with the help of the Corleone family.

EPISODE 5 OUT NOW.

Find your listening platform: https://www.station4negotiation.com/listen-now

Gene Killian

20/03/2024

Good negotiation balances perception with reality. Your job isn't to intimidate and appear formidable, it's to get a deal done. One of the most important things you can do is to allow your negotiating partner to save face - and if John F. Kennedy could do it in the Cuban Missile Crisis, you can do it in a business negotiation.

Listen to Ep 4: "13 Days - What The Cuban Missile Crisis Taught Us About High-Pressure Negotiations" for more:

https://www.station4negotiation.com/listen-now

18/03/2024

Negotiation tip of the week: Remember, agreeing on a number is wonderful, but you don’t have a deal until you’ve agreed on the terms and conditions.

12/03/2024

How do you negotiate effectively in high-pressure, high-risk situations? How do you keep a cool head when everyone else in the room is pushing for aggressive action?

EPISODE 4 OUT NOW. Find your listening platform: https://www.station4negotiation.com/listen-now

Gene Killian