Effective Negotiation Part 2 Episode at a Glance:
- Three key negotiation strategies: flinch, reflect, and silence
- Jim Schleckser explains how to discern an adversary’s needs
- Negotiating prices to reach an advantageous solution
- How to evaluate and leverage risk
- The importance of expressing gratitude at the end of a negotiation
In this episode…
Business negotiations are a lengthy and often arduous process with many characteristics and techniques to hone. So, how can you navigate these deals to reach an effective solution?
According to Jim Schleckser, the fear of loss is greater than the desire for gain. When conducting a deal with another businessperson, it’s necessary to leverage their risk aversion to expedite the process. By identifying your adversary’s greatest fear and offering them a guaranteed solution, you can utilize the time value of money to secure a favorable outcome.
In today’s episode of The Lazy CEO Podcast, Jim Schleckser discusses negotiation strategies for effective negotiation. He explains how to identify an adversary’s needs, how to negotiate a price to reach an advantageous solution and the importance of expressing gratitude at the conclusion of a negotiation.
Resources mentioned in this episode:
Jim Schleckser is the Chief Executive Officer of The CEO Project, a business advisory group for accomplished CEOs to help them solve their most challenging issues, resolve constraints, drive growth, and improve outcomes.
With 30 years of leadership experience in business strategy, organizational development, sales, marketing, and more, Jim leads global organizations across many functional areas in both public and private environments. He specializes in solving issues that fast-growing firms experience in their business models and processes as they reach high-performance levels. Jim has appeared in The New York Times, The Huffington Post, and National Public Radio.
Sponsor for this episode…
This episode is brought to you by The CEO Project. The CEO Project is a business advisory group that brings high-caliber, accomplished CEOs together. Our team of skilled advisors is comprised of current and former CEOs who have run both public and private sector companies across multiple industries. With our experience and expertise, we guide hundreds of high-performing CEOs through a disciplined approach that resolves constraints and improves critical decisions. The CEO Project has helped high-performing, large enterprise CEOs with annual revenues ranging from $20M to over $2 billion to drive growth and achieve optimal outcomes.
If you are an experienced CEO looking to grow your company, visit www.theCEOProject.com.