Building relationships and creativity are crucial in negotiating business deals.
Managing emotions, sharing information, and strategic planning enhance negotiation outcomes.
Deep dives
Marissa's Journey from Cheese Maker to Landowner
Marissa Morrow's career evolution from a cheese maker to becoming the owner of a century-old defunct farm in Vermont is highlighted. After her cheese-making facility burned down, she submitted a business plan to the Vermont Land Trust for making butter on the farm, showcasing her negotiation skills in securing the opportunity.
Ashley Shelby Rosette's Negotiation Insights
Ashley Shelby Rosette, a negotiation expert, discusses the concept of interdependent decision making in negotiations, distinguishing between distributive and integrative negotiation types. She emphasizes the importance of strategically managing emotions and sharing information in negotiations to build trust and achieve favorable outcomes.
Negotiation Strategies in Business Operations
Marissa navigates various negotiations as a small business owner, dealing with farmers for cream supply, land leasing, and employee management. She shares a negotiation example where she creatively solved a cream shortage issue by building relationships and sourcing additional equipment.
Managing Emotions and Building Rapport in Negotiations
The importance of understanding and managing emotions in negotiations is discussed, particularly for Marissa, who faces challenges due to her direct communication style. Strategies like labeling emotions, taking breaks, and using planning documents are suggested to improve negotiation outcomes.
How can we get better at negotiating? We hear from a butter maker and entrepreneur about a sensitive deal she recently navigated and then use that experience to draw out the principles and practices essential to any negotiation. Ashleigh Shelby Rosette, a professor who studies and teaches negotiations, gives advice on achieving our objectives in a deal, no matter the context.
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Listen to the best highlights from the podcasts you love and dive into the full episode