NOTES ON NEGOTIATION:
Written by Marty Latz, Latz Negotiation Institute
Here’s my annual list of lessons learned and a reminder to put these strategies into practice in 2023. You won’t get better results if you don’t implement them. Each also has a link to my column with more detail.
• Negotiating with the elderly requires specialized strategies and tactics, including listening and a focus on quality-of-life goals, interests, empathy and the end-of-life conversation. Read more.
• My Dad’s lifelong negotiation lessons include setting aggressive goals and going for it, relying on the power of respectful relationships, cutting through the fluff to find their true interests, supporting your moves with reasons, and listening carefully and deeply. RIP. Read more.
• Putin’s highly adversarial power negotiating strategies have their time and place, but misjudging his leverage there has led to his dismal failure so far in Ukraine. Read more.
• Changing your organization’s negotiation culture requires education, a common language, developing, implementing, managing and evaluating negotiation best practices, and tracking lessons learned. Read more.
• To get any deal (like on gun control), including a political one, you often need the right parties at the table, common interests, a better Plan A for everyone than their Plan Bs (leverage), and perseverance. Read more.
• Reputational interests, creativity and preparing all represent foundational elements in almost all successful negotiations on behalf of public figures (like with Arizona Cardinals’ quarterback Kyler Murray). Read more.
• I would love to always be in the right place at the right time. But you can’t control luck. You can control, however, your open and curious attitude, flexibility and ability to capitalize on unforeseen opportunities, “lucky” feelings, and debriefing. Read more.
• Whether you sign should depend on fundamental goals and interests, the deal’s value relative to your Plan B and your knowledge of your counterpart’s Plan B, and offer-concession patterns. Read more.
• Online meetings seem so efficient and cost effective – but the value of the relationship, the likelihood of building rapport or getting a “yes,” and tradition and culture may weigh you to get back on that plane and fly to that crucial negotiation in person. Read more.
• It makes sense to begin negotiations in Ukraine – but only if it’s combined with intensified military pressure. Read more.
• Leverage, precedent and timing played significant roles in the Brittney Griner negotiations – as they do in most negotiations. Read more.
Latz’s Lesson: Incorporate these lessons into your Strategic Negotiation Plans in 2023. Better results will follow.
Marty Latz is the founder of Latz Negotiation Institute, a national negotiation training and consulting company, and ExpertNegotiator, a Web-based software company that helps managers and negotiators more effectively negotiate and implement best practices based on the experts' proven research. He is also the author of Gain the Edge! Negotiating to Get What You Want (St. Martin’s Press 2004). He can be reached at 480-951-3222 or Latz@ExpertNegotiator.com
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