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Negotiation: When to Stay and When to Walk Away

Negotiation: When to Stay and When to Walk Away

FromGrit & Growth


Negotiation: When to Stay and When to Walk Away

FromGrit & Growth

ratings:
Length:
38 minutes
Released:
Jun 7, 2022
Format:
Podcast episode

Description

Negotiation is at the heart of almost every business transaction — whether working on terms with potential investors or communicating with colleagues. Listen to Ghanian educational entrepreneur Charles Yeboah as he shares his real-world negotiation challenges and get surprising tips and insights from Stanford professor Margaret Neale on how to turn your next negotiation into a win-win.Charles Yeboah never imagined he’d be in the business of education. But after searching for a school for his daughter, necessity became the mother of invention. Today, International Community School is educating over 2000 students across Ghana with plans to expand to other countries. When it came time to expand, Yeboah needed to put his negotiation skills to the test with potential investors. He learned firsthand what Professor Neale researches and teaches: that walking away from a deal is sometimes the best outcome…even when a $20 million dollar investment is on the line.Professor Neale believes that negotiators require a different mindset, moving from the idea of negotiation as a battle to an opportunity for collaborative problem-solving. She advises to never begin a negotiation without understanding what your alternatives are or what happens to you in the case of an impasse? “If I have a really good alternative, then you're going to have to pay a premium for me to stay and play in this interaction. Otherwise, I can just walk” says Neale.Yeboah followed that advice in his own negotiations. “Whether it's talking to a banker or talking to a potential equity investor, you think about what you want to achieve with that investment and what they want to achieve with that investment. And then you want to make sure that you marry the two aspirations,” he says. Listen to Yeboah’s real-world experiences of sticking to his values when negotiating and get Professor Neale’s practical tips for preparing well and negotiating better.To find out more, or apply for Professor Neale's Influence and Negotiation Strategies Program, visit: https://www.gsb.stanford.edu/exec-ed/programs/influence-negotiation-strategies-program See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Jun 7, 2022
Format:
Podcast episode

Titles in the series (74)

Meet intrepid entrepreneurs from Africa and South Asia, hear their stories of trial & triumph, and gain insights and guidance from Stanford University faculty and global business experts on how to transform today’s challenges into tomorrow’s opportunities. From securing investment and planning family succession, to mindful leadership and managing in adversity, you’ll learn firsthand from entrepreneurs and experts on how to develop the grit you need to grow your business — in times of crisis and calm. Walk away with actionable information, new perspectives, and fresh inspiration to take your business to the next level. Listeners can also take a deep dive into entrepreneurship with masterclass episodes featuring interviews with Stanford faculty and global experts. It’s a unique opportunity to hear about cutting-edge research, get practical business tips, and learn proven leadership strategies from some of the world’s leading thinkers and practitioners.Grit & Growth is brought to you by Stanford Seed, a Stanford Graduate School of Business-led initiative that partners with entrepreneurs in emerging markets to build thriving enterprises that transform lives. About The Host: Darius Teter is executive director of Stanford Seed, a Stanford Graduate School of Business-led initiative that partners with entrepreneurs in emerging markets to build thriving enterprises that transform lives. Darius has held leadership positions at Oxfam America, the Asian Development Bank and with the US Government where his experience included advising governments on economic policy, developing human rights programming, and financing infrastructure megaprojects across Africa, Asia and Latin America. All the while, he remained intrigued by the human experience and our universal drive towards growth and prosperity.