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💡 "Negotiations with Former FBI Agent"

We Study Billionaires

Photo by Cytonn Photography / Unsplash

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we study billionaires fib agent chris voss
Hosts: Preston Pysh, Stig Brodersen | Guest: Chris Voss, Former FBI Agent

Category: Biz & Tech | 💡 Business Coaching

Podcast’s Essential Bites:

[12:20] “Every yes feels like a trick or a trap. So, there is an automatic aversion to the word. Now the insane thing is, people are taught that when they say no, they just protected themselves from the trap. So, it’s the stupidest change in the question from ‘Do you have a few minutes to talk?’ to ‘Is now a bad time to talk?’ […] Just switching from yes to no to start with, is a massive change in a way people react. They don’t feel trapped, they’ve been conditioned in saying no protects him, so they relaxed, they calm down. They are more agreeable having said no.”

[13:26] “Change your thinking. Don’t look at [the] yes agreement. […] You are looking for agreement, you’re not looking for yes. […] [W]hen people really agree and they feel like they agree, they don’t say ‘yes’, they say ‘that’s right’.”

[18:03] “The accusations audit is taken audit, taken inventory of all the accusations they might make against you. […] Now just list them out. If they have agreed to a meeting, at some point in time they gonna think the meeting is a waste of time. Start up by saying, ‘you’re probably wondering if this meeting is a waste of time’. […] Never deny a negative, just call it out. And we know from neuroscience […], this is where people make decisions. They have to get past the negatives. They don’t ignore them, they gotta deactivate them, they gotta reconcile them. […] There is no more effective way to deactivate negatives than to simply call it out, to label it and then let that label sink in and diffuse the problem.”

[22:03] “After I’ve said that my price is ridiculously high, the person on the other end of the conversation is gonna stop and imagine a number higher than I had in mind. And so, then when I give my number, my number is actually a relief.”

[26:25] “Loss is the overriding factor in human decision making. How do you factor that into business? [The] principle in a business negotiation: The real enemy is the status quo - getting someone to change what they are doing. They are more likely to change to avoid a loss. How do you get them to think about the loss? […] You gotta use a good how question or what question. […] Loss aversion has the highest compliance rate.”

[28:06] “[Odd numbers] feel more solid to the other side. They feel more thought through. An even number feels like a soft number, like an estimate, like a temporary place holder. […] We always coach people to make counter offers in odd numbers and certainly, your last offer’s got to be in an odd number.”

[30:04] “[The] Ackerman model is the most effective bargaining system out there. […] It’s based on a dynamic of three. […] You gonna plan out for three rounds of bargain. You come up with a target price and you gonna allow yourself to be moved into that target price in three increments. Your increments have to be decreasing increments. Every move that you make, has to be smaller than the one before. The other side will feel the increments getting smaller. They will feel victory every step of the way, but they will feel each victory was harder and harder won. So that if you get to your number, they felt like they got everything they could. And that number then becomes a tremendous victory for them, which if they don’t take it, they’ve lost it. Again, this is this loss aversion.”

[33:37] “The first thing to do is […] just let the other side go first. And try to paraphrase whatever they’ve said. Don’t argue, don’t counteroffer, don’t make your value proposition. […] Get a ‘that’s right’ out of somebody before you do anything else.”

Rating: 🍎🍎🍎🍎

🎙️ Full Episode: Apple | Spotify
🕰️ 42 min | 🗓️ 10/25/2020 | 🗄️ Archives
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