Negotiations Ninja Podcast

Are you approaching negotiations from a rigid viewpoint? Are you applying a zero-sum mindset where there can only be one winner? In this throwback episode of Negotiations Ninja, Keld Jensen shares why it’s time to rethink your approach to negotiations—starting by rebuilding negotiation training. His outside-the-box approach will help you approach negotiation with a different lens, providing more value than you thought possible.  

“Scope of work” clauses may not be complex, but they are often misunderstood in a contract. It’s where I see the most mistakes and opportunities for future conflict. That’s why Jeanette Nyden is back! In this episode of Negotiations Ninja we talk about how to negotiate scopes of work correctly, the common screw-ups that we see, AND what to do about them. Don’t miss it!  Disclaimer: I am not a lawyer. This episode is for informational purposes only and does not constitute legal advice. Seek proper legal counsel if needed.  Outline of This Episode [2:15] Learn more about Jeanette Nyden [4:00] Make sure your business objective is clear [6:01] Collaboration is key with scope of work [10:15] Overcoming the fears procurement has [12:52] What, where, when, why, and who [17:33] Building “TBDs” into the scope of work [20:14] Creating a provision for unknown unknowns  [23:38] When error creeps into the scope of work [26:47] Take your time to address the right KPIs and SLAs Make sure your business objective is clear The first problem that Jeanette sees is that the scope of work in a contract isn’t tied to the business objective. You need to be able to read the scope of work and figure out what the objective is. When Jeanette first started working on contracts, she’d always ask what business objective they were trying to solve. It should be abundantly clear.  In Jeanette’s book, “The Contract Professionals Playbook,” she provides a tool that helps professionals detail what the business objective is. You want suppliers to read the scope of work and easily say “yes” or “no.” You also want to make sure that companies who aren’t qualified self-select out. If they don’t, it’s a recipe for disaster.  Create really good acceptance criteria Instead of beating up your supplier to achieve year-over-year cost savings, why not include really good acceptance criteria?  Lawyers put in template language that the customer has the right to accept work. It’s up to the drafters of the scope of work to determine what the acceptance criteria are, who will accept it, and what “non-conforming” or “rejecting” means.  If you, as the customer, have properly developed the scope of work and the acceptance criteria are clear, you can hold the supplier accountable when something goes wrong. It becomes the supplier's cost to fix the good(s) or conform to service.  Many people don’t understand conditional acceptance, so there aren’t clear criteria for when you accept something is done to move on. You must take your time how to write acceptance criteria versus focusing on cost savings. Take your time to address the right KPIs and SLAs One of Lucille Ball’s classic skits is when she’s working at a chocolate factory. The assembly line is moving too fast, so she starts eating the chocolates. If you write the wrong KPIs or wrong statements of service level agreements, the machines might be working fast. But if the people can’t keep up, you have a problem.  Think about call centers. If you call with a technical issue, your call may get answered quickly— but then you wait 45 minutes for a technician. The person answering the original call is just sorting. They’re measured on their ability to pick up the phone—not solve the problem.  You have to look for disincentives, which are often in the scope of work. That’s where companies have the power to make suppliers efficient. Map out the touch points. Do you want someone to answer the phone in the first minute? Sure, that’s awesome. But you don’t want the caller sitting on the phone for another 45 minutes. How do you address that? Those are the things that lead to return customers and where you build value. Why is collaboration key when it comes to scope of work clauses? How do you build unknown unknowns into a contract? To enjoy the full scope of this conversation, listen to this episode of Negotiations Ninja! Resources & People Mentioned Jack Barsky Episode: A Sleeper Agent’s Undercover Life Lucy and the Chocolate Factory Connect with Jeanette Nyden jn@jnyden.com Jnyden.com The Contract Professionals Playbook Connect With Mark Follow Negotiations Ninja on Twitter: @NegotiationPod Connect with Mark on LinkedIn Follow Negotiations Ninja on LinkedIn Connect on Instagram: @NegotiationPod Subscribe to Negotiations Ninja

Why is storytelling a powerful negotiation tool? Stories are powerful because they’re how humans communicate. Stories are memorable and drive home concepts that can be otherwise difficult to understand. Stories can make real-world applications seem tangible and make a buyer interested in a solution. So in this throwback edition of Negotiations Ninja, we revisit why storytelling is a powerful negotiation tool that must be in your arsenal. Don’t miss it!

Zack Storms runs a non-profit called Startup TNT, a community that works with local angel groups, early-stage VC funds, and seed funds to educate potential investors. They teach entrepreneurs how to raise money and how to be better entrepreneurs overall. In this episode of Negotiations Ninja, we have a great conversation about Startup TNT, what they do, and how they’re bridging the gap between investors and founders.  Outline of This Episode [1:58] Learn more about Zack Storms and Startup TNT [5:34] Make sure you research your business [7:38] The early stages of negotiations? [11:12] Access is the #1 factor in successful investing [13:09] Why you want to be firm but pleasant [14:32] How to win friends & influence people [18:57] What’s up next for Startup TNT [20:11] The struggle to access seed funding The Roots of Startup TNT Three years ago, Zack launched “Thursday Night Tradition,” now known as Startup TNT. It was a happy hour to have fun, make friends, and bring like-minded people together to focus on building businesses.  Zack had heard of the concept of an “Angel Summit,” where you get investors together, and they commit money upfront to invest in a local company. He knew it was needed in Edmonton. Now, he runs 12 investment summits. He’s helped raise $6 million for 40 companies across the Prairies with 220 investors in participation.  Raising money isn’t the only goal Zack isn’t just helping companies raise money—he’s helping them get exposure, too. New investors are learning from seasoned investors, increasing the sophistication level of the local investor pool. They also run public events to build awareness around the startups and build momentum for deals. It showcases and celebrates the community.  Startup TNT also helps coach companies through anything before Series A funding, which is usually when big investors start coming into play with millions of dollars in investments. They work with companies raising between $250,000 to $3 million, with valuations ranging from $2.5 million to 12 million Canadian dollars.  The struggle to access seed funding People who raise money from friends and family are rare, and seed funding is challenging to access. That’s why Startup TNT is trying to make the process easier for founders to access early-stage investors. Zack has created a community where investors and founders can start conversations and gain access they otherwise wouldn’t have. Listen to this episode of Negotiations Ninja to learn more about building relationships and negotiating with investors. Resources & People Mentioned Pitchbook Crunchbase How to Win Friends & Influence People Connect with Zack Storms Startup TNT Startup TNT on Twitter Connect with Zack on LinkedIn Connect With Mark Follow Negotiations Ninja on Twitter: @NegotiationPod Connect with Mark on LinkedIn Follow Negotiations Ninja on LinkedIn Connect on Instagram: @NegotiationPod Subscribe to Negotiations Ninja

Dan Oblinger and Allan Tsang are the masters of busting negotiation myths. In this special throwback episode of Negotiations Ninja, they do just that. The negotiation myth-busters cover everything from negotiation pet peeves to role-playing, strategies, tactics, and mindsets. They drive home important negotiation concepts in a fun and light-hearted manner that everyone can enjoy. Check it out!

What is framing? How do you use framing in negotiations? How do you use framing to win arguments? In this episode of Negotiations Ninja, Joel Trachtman joins us to methodically dissect the topic.  Joel Trachtman is a Law Professor, who practiced for 9 years on Wall Street before shifting to teaching international law for the last 30+ years. He wrote the book, “The Tools of Argument: How the Best Lawyers Think, Argue, and Win” to simplify the use of legal arguments in other contexts.  Outline of This Episode [1:27] Learn more about Joel Trachtman [2:20] The basics of framing in negotiations [4:16] Framing is a matter of imagination and preparation [6:51] The best ways to win arguments with contracts [12:08] If you can’t win on substance—argue procedure [15:53] Who does the burden of proof fall on? [17:38] The mistakes lawyers make in developing arguments [20:35] Don’t ignore the importance of checklists The basics of framing in negotiations Are the words you use important? Or is it how you use those words that determine success?  Framing is putting a particular argument into a pre-existing narrative. That narrative must have consequences.  Is it a case of self-defense—or did someone commit murder? You must look at the facts, prioritize certain facts, and establish a frame. Any circumstance you’re arguing can be looked at in different ways. So you need to understand how your counterparty is looking at it. Once you gauge how they’re framing it, you can stress a different framing. Health-based restrictions on cigarettes or sugary drinks can be seen as public health issues or freedom/human rights issues. You have the ability to take the facts and establish a different narrative to help a counterparty reach a different conclusion.  Everyone has multiple concerns and narratives in their lives that aren’t always consistent. If you can frame something one way, you might be able to persuade someone else of your position.  Framing is a matter of imagination and preparation Joel notes that it’s important to be imaginative and prepared. What are the different ways in which this context could be understood by the counterparty? What are they thinking? How can you shift the way they’re thinking? What facts can you emphasize to do that? A healthy curiosity toward how someone else views something is where many people struggle. How do you say what you need to say so it resonates with that person?  Is there a precedent? Lawyers look at prior cases to see if there is “precedent” for an argument in the current case they’re working on. It can be used in general negotiations as well, i.e., “This is the way we’ve always done this.” In discussing precedent, you must look for ways that the current case is similar to a previous case (or cases) with the outcome that you desire. You have to select the characteristics of the current circumstance and compare them to a prior case in which things came out the way you want.  What mistakes do negotiators often make when they’re developing an argument? What do you do if someone isn’t acting rationally? And if you can’t argue on “substance” how do you argue procedure? Joel answers these questions—and much more—in this episode of Negotiations Ninja. Don’t miss it! Resources & People Mentioned The Checklist Manifesto Connect with Joel Trachtman Connect on LinkedIn Follow on Twitter The Tools of Argument Connect With Mark Follow Negotiations Ninja on Twitter: @NegotiationPod Connect with Mark on LinkedIn Follow Negotiations Ninja on LinkedIn Connect on Instagram: @NegotiationPod Subscribe to Negotiations Ninja

How do we begin to alter the animosity that can exist between procurement and sales? How do we begin to facilitate open dialogue? John Barrows believes that it’s time to address the elephant in the room. It’s time to change the conversation. Changing the narrative begins with having simple, genuine conversations. Learn what you can do to bridge the gap in this throwback episode of the Negotiations Ninja podcast!

David Hoffeld is the CEO and Chief Sales Trainer at the Hoffeld Group. They conduct research across social psychology, cognitive psychology, neuroscience, and behavioral economics and apply it to selling and negotiating.  What has science proven regarding how our brains work? How do you apply that to how you sell? It provides instant clarity and helps you reach success. Leveraging science makes you predictably more effective. Learn all about leveraging the science of social proof in this episode of Negotiations Ninja. Outline of This Episode [1:34] Learn more about David Hoffeld [2:23] Leveraging the science of social proof [6:26] What to do when you trigger reactance [10:13] How to “boost the mood” of the buyer [14:29] The presentation versus the perception of value [20:04] Learn about David’s book, “Sell More with Science”  [21:04] The detriment of a fixed mindset The basics of social proof There are simple strategies everyone can follow to influence others. Social proof is one example. Social proof connects the persuasiveness of an idea with how other people are responding to it. It’s why everyone reads best-sellers, watches Blockbuster movies, or goes to a business with great reviews. If other people are having a good experience, it must be good, right? Social proof is powerful. You can frame suggestions and insights with it. It naturally causes the brain to lower the perception of risk. And we all know that humans are risk-averse. They don’t want to make a bad decision. So when you can leverage social proof when you frame things, it significantly increases the likelihood that people will comply with what you said. It also piques naturally curiosity.  Leveraging the science of social proof in negotiation Social proof also prepares people to be more receptive to whatever you share. It can be applied through testimonials, statements, sharing narratives, and more. How can you apply it in a negotiation or sales call?  As you apply social proof, remember that similarity amplifies its impact. So share specific examples similar to the people you’re negotiating with. It amplifies the persuasive clout and makes it more compelling. It helps people see what working with you would be like through the lens of results from people like them.  Once you master the science of social proof, it’s easy to adapt other principles of influence. But every once and a while, you’ll hit a snag and trigger reactance. What to do when you trigger reactance When you walk past a sign that says “Don’t touch, wet paint” you want to touch the paint, right? Everyone has the same reaction. Why does a sign telling you not to do something cause you to do that very thing? Reactance is psychological arousal that occurs when you perceive your ability to freely choose is being restricted by another person. Good or bad, we want every decision to be our own. It’s why people don’t like working with salespeople. They don’t like to be pressured.  When you try to create urgency or make a strong business case, you’ll run the risk of creating reactance. Reactance kills influence. So how do you reduce reactance? When you make a suggestion and a strong business case, let people know that it’s entirely up to them. It boosts compliance significantly. When you get out of the way, it allows the business case to shine. They feel a sense of urgency and it will amplify your influence.  David shares more tips and strategies on how to boost your influence in this episode. Don’t miss it! Resources & People Mentioned The Importance of Social Proof as a Trust Signal Connect with David Hoffeld David’s website Connect on LinkedIn Follow on Twitter The Science of Selling Sell More with Science Connect With Mark Follow Negotiations Ninja on Twitter: @NegotiationPod Connect with Mark on LinkedIn Follow Negotiations Ninja on LinkedIn Connect on Instagram: @NegotiationPod Subscribe to Negotiations Ninja

We all know what great sales managers look like (the Office, anyone?). So what are the prerequisites that make someone shine in a management role? Are they conversational? Do they communicate well? Do they understand the different facets of negotiation? These are just a few of the qualities that Rene Zamora believes you need to look for in a candidate. He shares what excellence looks like in a sales manager in this throwback episode of Negotiations Ninja. Check it out! 

Joanna Shea is the Managing Partner of the Negotiations Collective. She brings almost 20 years of experience in the corporate world working on major acquisitions and divestments to the team. They blend the corporate world and behavioral psychology to help negotiators realize success.  What is the difference between intelligence (IQ) and emotional intelligence (EQ)? How is a blend of both of them important to the success of a negotiation? In this episode of Negotiations Ninja, Joanna shares why negotiation without EQ is useless. Don’t miss it!  Outline of This Episode [1:24] Learn all about Joanna Shea [2:26] Negotiation without EQ is useless [3:38] How to deal with conflict in a negotiation [6:24] How to ask better questions to uncover information [13:42] Why negotiators default to blaming others for mistakes [17:11] Intelligence versus emotional intelligence [22:09] Why people fear dissecting their mistakes [26:28] The proximity complex explained [29:06] Use your power of persuasion for good Resources & People Mentioned How to Build a Business Worth Buying How to Negotiate with Narcissists Connect with Joanna Shea Negotiations Collective Connect on LinkedIn Connect With Mark Follow Negotiations Ninja on Twitter: @NegotiationPod Connect with Mark on LinkedIn Follow Negotiations Ninja on LinkedIn Connect on Instagram: @NegotiationPod Subscribe to Negotiations Ninja