Summary of Victoria Medvec's Negotiate Without Fear

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 Fear is a major factor in people’s inability to negotiate. It affects people who negotiate every day, whether they are executives or not. The biggest fears are losing the deal and damaging the relationship.

#2 People are often afraid to negotiate for themselves. They fear that the other side will walk away and lose the deal, particularly when the negotiator does not have strong outside options.

#3 You must know your bottom line, but you must also focus on your goal. Establishing an ambitious goal will help reduce the fear that you will leave money on the table with a poor outcome.

#4 The COVID-19 pandemic has made it difficult to meet in person, so you should use a virtual video platform such as Zoom, WebEx, Microsoft Teams, or Google Meet to deliver your offer face-to-face on screen. When you negotiate in a synchronous channel, you can immediately see the other side’s reaction and make appropriate concessions.

• Language: English
• Publisher: IRB Media
• Release date: May 14, 2022
• ISBN: 9798822519404

IRB Media

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Insights on Victoria Medvec's Negotiate Without Fear

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 4

Insights from Chapter 5

Insights from Chapter 6

Insights from Chapter 7

Insights from Chapter 8

Insights from Chapter 9

Insights from Chapter 10

Insights from Chapter 11

Insights from Chapter 12

Insights from Chapter 13

Insights from Chapter 14

Insights from Chapter 1

#1

Fear is a major factor in people’s inability to negotiate. It affects people who negotiate every day, whether they are executives or not. The biggest fears are losing the deal and damaging the relationship.

#2

People are often afraid to negotiate for themselves. They fear that the other side will walk away and lose the deal, particularly when the negotiator does not have strong outside options.

#3

You must know your bottom line, but you must also focus on your goal. Establishing an ambitious goal will help reduce the fear that you will leave money on the table with a poor outcome.

#4

The COVID-19 pandemic has made it difficult to meet in person, so you should use a virtual video platform such as Zoom, WebEx, Microsoft Teams, or Google Meet to deliver your offer face-to-face on screen. When you negotiate in a synchronous channel, you can immediately see the other side’s reaction and make appropriate concessions.

#5

You want to make your first offer focused on how your differentiators address the other side's pressing needs and interests. You also want to leave yourself room to make concessions, as people often fear that the negotiation will be emotionally charged and conflict laden.

Insights from Chapter 2

#1

The first step in preparing for a negotiation is to put the right issues on the table. The better prepared you are, the more power you have. Information is a significant source of power in any negotiation, so prepare as much as possible.

#2

When you are negotiating multiple issues, you can identify tradeoffs between them and discover which ones are most important to each side. This allows you to build or maintain a relationship with the other party while still getting what you want.

#3

To develop a list of negotiable issues, you must first develop your objectives. Your objectives reveal what you want to accomplish with the other party in the negotiation, in both the short and long term. Once you have completed the list, develop one or more negotiable issues for every single objective that you have identified.

#4

When negotiating with a customer, you should not only consider getting the best price possible, but also add more issues to the table to unlock the integrative potential of identifying differences in the two parties' preferences.

#5

The first objective in every customer negotiation is to address the customer's pressing business needs. You can do