George Ross, former chief negotiator for Donald Trump and a veteran real estate lawyer, dives into vital negotiation tactics from his extensive career. He shares strategies that enhance everyday negotiation skills, emphasizing the importance of preparation and understanding your counterpart. Ross recounts compelling stories, like revitalizing the Commodore Hotel through innovative proposals. He also discusses the psychological aspects of negotiation, highlighting the balance between competitiveness and practicality for successful outcomes.
Negotiation should be seen as a collaborative process focused on reaching mutually satisfactory agreements instead of aiming for unilateral victories.
Successful negotiators possess key traits like likability and an understanding of human behavior, which significantly improve negotiation outcomes.
Deep dives
The Essence of Negotiation
Negotiation is framed not as a battle to win, but as a process of reaching agreements. The key to effective negotiation lies in understanding that it involves making deals that are satisfactory for all parties, rather than seeking one-sided victories. George Ross emphasizes the importance of adopting a mindset that prioritizes collaboration over competition. This perspective can transform how one approaches any negotiation, whether in real estate, business transactions, or everyday interactions.
Traits of Successful Negotiators
One critical takeaway is the traits that define successful negotiators, with personality being paramount. A likable and personable demeanor fosters better connections, making others more willing to engage in productive negotiations. Knowledge of human nature is also crucial, as understanding behavioral patterns can significantly influence negotiation dynamics. By mastering these traits, individuals can elevate their negotiation skills and improve outcomes in various business scenarios.
Tactics for Effective Negotiation
Ross outlines specific tactics that can be implemented to enhance negotiation effectiveness. One powerful strategy is to conduct thorough research on the counterpart, understanding their needs and weaknesses. Additionally, managing one's own expectations and approaching discussions with a clear objective can facilitate smoother interactions. By employing these tactics and developing a strategic game plan, negotiators can better navigate the complexities of each meeting and achieve desired results.
Lessons from Real Estate Negotiation
Ross shares real-life examples from his extensive experience in real estate, illustrating how innovative negotiation can lead to successful outcomes. He recounts his involvement in the revitalization of the Commodore Hotel in New York City, showcasing how creative problem-solving and persuasive negotiation tactics turned a struggling property into a profitable venture. This story emphasizes the impact of strategic thinking and the importance of seizing opportunities, even in challenging circumstances. Such lessons serve as valuable insights for anyone looking to enhance their negotiation skills in any industry.
How well do you do when it comes to negotiation in business? Do you find it easy to make a good deal? Or do you usually end up feeling like you got bested by the other guy? George Ross - aka Donald Trump's previous chief negotiator - has some advice for you...
Drawing on his decades as a real estate lawyer and executive vice president & senior counsel of the Trump Organization, George Ross teaches the essential tactics and strategies you need to know in order to give your negotiator skills a competitive edge.