Master negotiator tip #2

 

Understand and address the emotions. 

Some negotiations go nowhere because both parties are emotionally charged. People become stubborn and unreasonable when they are emotionally charged. In many negotiations, the physical items being fought over, or the tasks being debated, are not actually the main point. You need to address the emotions involved. 

One minor shareholder who has been with the business for 20 years wants to exit and wants to sell his shares to the majority shareholder. He asks for a much higher price than the market value. The majority shareholder wants to buy the shares, but not at such a price. They are stuck because no one is willing to give in. What emotions are not being addressed? For the minor shareholder, money is not the only thing he wants. Even if he does not say it, he wants to feel appreciated and recognised for his contributions to the company for those 20 years of his life. Possibly he is asking for a high price because he feels he has been underappreciated for many years. If this is never discussed or addressed, the two parties may never reach an outcome they are both happy with. 

Master negotiator tip #1

 

Be on the same side. 

Most people when they consider themselves in a negotiation, they automatically see themselves in a zero sum game. You and the other party are on opposite ends of a table. When one side gains, the other loses. So both sides fight mercilessly to get what they want. This limiting mindset results in many people walking away from negotiations having gained little or nothing. 

What master negotiators do is they learn to understand their counterpart and see from their perspective. They build trust and try to help their counterpart achieve what is most important for them. When you frame a negotiation as a problem to solve together instead of a tug of war, you will be more creative in finding a solution. 

How leaders handle incompetence #5

 

Strong leaders often feel frustrated by the incompetence they see in their organisations. One important thing we must do is to 

reflect on our own definitions of competence. Is it really a competence problem, or do you just want things your way? We become leaders because we are good at what we do. From our successful experiences, we have formed opinions and preferences on how things should be done. When things are not done exactly how we would have done them, we feel it's not good enough. 

When we ask our teams to complete a task, we have to be precise and fair about what the desired outcome is. We have every right to expect nothing less, and we must also remind ourselves to expect nothing more. Sometimes it is those unspoken expectations that frustrate not only ourselves, but also our teams.