George Siedel joins Will Barron on the Salesman Podcast to share the tactics of the worlds best negotiators so we too can learn to negotiate more efficiently.
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How To Negotiate In Sales
The show is kicked off with George explaining the importance of preparing before a key negotiation. He shares the fact that most people walking into a negotiation are severely under-prepared and so this is potentially your biggest advantage.
“What is amazing, is that many negotiators even at large multi national companies, do not prepare for a negotiation” – George Siedel
George then shares the acronym BATNA (best alternative to a negotiated agreement) and this is game changing for Will.
“Best alternative to a negotiated agreement. In other words, if the deal falls through, what’s your best alternative.” – George Siedel
The show is wrapped up with George pointing out the need (which is often missed) to build rapport with the person you are negotiating with before any negotiating takes place.
This crucial step much like showing up unprepared is something that we often get wrong by framing the negotiation as a battle rather than a conversation.
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Guest info:
George Siedel is the Williamson Family Professor of Business Administration and the Thurnau Professor of Business Law at the University of Michigan. He teaches negotiation at Michigan’s Ross School of Business and around the world to business leaders, entrepreneurs, attorneys, physicians, athletic directors, and judges.
Professor Siedel has received several national research awards including the Maurer Award, the Ralph Bunche Award, and the Hoeber Award. He has also received many teaching awards, including the 2014 Executive Program Professor of the Year Award from a consortium of 36 leading universities committed to international education.
Show notes:
George’s course: Successful Negotiation: Essential Strategies and Skills
BOOK: Negotiating for Success: Essential Strategies and Skills
LinkedIn.com/in/George-Siedel-25103410
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