In this episode, Chris Voss, a world-renowned negotiation expert and former FBI negotiator, joins us to discuss the art of negotiation, particularly in the realm of complex B2B deals.
Key takeaways include:
Power of 'No': Learn how saying 'no' can be more effective than the usual push for 'yes' in negotiations.
Tactical Empathy: Discover how understanding emotions plays a crucial role in successful negotiations.
Navigating Unforeseen Challenges: Chris explains how to deal with unexpected 'Black Swans' in business deals.
Long-Term Relationship Building: Insights into fostering sustainable business partnerships.
Calibrated Questions: Mastering the art of asking the right questions to steer negotiations in your favour.
00:00 - Introduction to the Episode
00:24 - Chris Voss's Background and Journey to the FBI
01:35 - Transition from FBI to Business Negotiation
03:35 - Client Profile and Learning Mindset
04:59 - Tactical Empathy in Negotiation
06:10 - The Power of 'No' in Negotiations
08:20 - Handling Black Swans in Deal-Making
11:02 - Transparency and Trust in Sales
13:17 - Anchoring in Negotiations
15:09 - Common Mistakes in B2B Deals
17:09 - Implementing Negotiation Strategies in Organizations
20:47 - Dealing with Angry Customers and Renegotiations
24:21 - Identifying and Handling Difficult Clients
29:04 - Calibrated Questions in Negotiations
34:15 - Balancing Openness and Protecting Interests
37:49 - Creating Urgency in Negotiations
39:17 - Key Takeaways and Final Thoughts