Negotiations Ninja Podcast

  Procurement chains become increasingly complex the larger an organization becomes, which means that many gaps occur that cost the organization money rather than saving it. Valuable, cost-saving data is missed or lost, processes are elongated, and inefficiencies grow. A.I. and Machine Learning are tools that can be used to address these issues and many others. It’s up to us as the procurement professionals in our organizations to open our minds to the possibilities, learn about what’s happening with A.I. and M.L. now, and begin to integrate what we learn into our current procurement chains for the benefit of our organizations, teams, and customers. Join me as I speak with Kevin Frechette and Tarek Alaruri of Fairmarkit, a company that is using these tools to automate buying decisions, achieving cost savings of over 15% on non-strategic spend. Resources & People Mentioned ServiceNow Grammarly Tethr www.Gong.io Whirlpool General Electric SAP Univision Communications Jack Dorsey (Twitter and Stripe) BOOK: The Challenger Sale Connect with Kevin Frechette and Tarek Alaruri Fairmarkit - the company where Kevin and Tarek serve Connect with Kevin on LinkedIn Connect with Tarek 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

The negotiations process can seem mysterious and difficult to those looking on from the outside, but Mike Caro says that it’s made up of the same principles and psychological dynamics that everyday life situations contain. Interestingly enough, Mike has developed that belief as one of the world’s foremost authorities on the game of Poker. It’s a tremendous offer to be able to present this conversation with Mike, who’s in seclusion somewhere in the Ozarks working on his latest brainchild. Join me for a fascinating journey into the mind of the Poker Mad Scientist, Mike Caro. Outline of This Episode [0:34] Mike Caro’s amazing work, drawn from a life of poker playing and strategy [3:20] The decision Mike made to move to a remote spot in the Ozarks [6:02] Observations on how poker and life compare and overlap [8:17] Caro’s law of loose wiring [11:00] Learning to make better decisions when it matters most [16:31] The psychology behind poker and the negotiation process [20:13] Misinterpreting body language, nervousness, and more [28:57] The biggest misconception about Poker: It’s about winning the pot [34:35] Applying the weak / strong demeanors presented in negotiations [37:33] Understanding the concept of “tilt” and how it impacts the negotiation process Resources & People Mentioned Negotiations Ninja episode with Annie Duke https://ScoutRFP.com/negotiation (sponsor) Our previous podcast episode featuring Robert Greene Connect with Mike Caro Mike’s website: https://www.poker1.com/ MIke’s BOOK: Caro’s Book of Poker Tells MIke on Twitter: @MikeCaro 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

Everyone involved in sales, procurement, or negotiations of any type needs to develop the influencing skills that make them effective. We are all influencers in one way or another (for bad or good) and intentional focus on making those innate skills work for us can have great results. Shane Martin reached out to me because he has found that the same influencing skills he uses in his sales career are also powerfully effective in his role as a volunteer at his local suicide hotline. Join us for this conversation. We dive into influence, persuasion, and spend a good deal of time walking through Robert Cialdini's work on influence as well. Outline of This Episode [0:35] Meet our guest and a fan of the show, Shane Ray Martin [1:25] Why it’s important not only to listen but to apply what you learn from episodes [3:02] Shane’s motivation for volunteering at a suicide hotline [5:48] The right questions to get to the real issues behind the conversation [8:25] Teaching causes people to drop their guard [12:16] The six steps used by Shane’s volunteering with the suicide hotline [17:55] The pitfalls Shane sees salespeople make in negotiations [24:38] Cialdini's 6 principles of influence [27:30] The power of social proof in negotiations and influence Resources & People Mentioned www.ScoutRFP.com/negotiation  (sponsor) Scott Tillema episode of Negotiations Ninja BOOK: Give and Take by Adam Grant BOOK: The Go Giver by Bob Burg Robert Cidaldini’s book “Influence” BOOK: Pre-suasion by Robert Chialdini Chialdini’s 6 Principles of Influence video Connect with Shane Martin Shanes website: https://www.shaneraymartin.com/  Follow Shane 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

If you haven’t heard Molly Bloom’s story you’re missing an incredible lesson in overcoming adversity. You could say she made her own bed—and she’d agree with you. The legal trouble she got into bears it out as well. What did she get into hot water over? She was involved in organizing and managing high-stakes poker games for high-profile and high net worth individuals and she stepped over a legal line. A Federal raid of her home, her arrest, and a very public trial offered her the opportunity to make some new choices and move in a new direction. That’s when everything about her mindset, perception about herself, and personal integrity began to change. Listen to this episode—not just to hear a provocative story but also to hear how overcoming adversity is possible for all of us. Outline of This Episode [3:10] The incredible story that makes Molly an example of overcoming adversity [7:30] Molly’s motivation to speak and inspire people to persist and persevere [9:28] Why Molly rejected the Feds offer for immunity despite the repercussions [12:29] The reason difficult choices are necessary and even helpful [15:08] What it takes to build a great product and recruit a great team [18:42] The reasons Molly takes such time to target her clients [24:30] Why Molly’s attorney, Charlie, choose to take her case [28:17] How Molly convinced Aaron Sorkin to do a movie of her story [30:01] Persevering and using rejection to fuel yourself forward [34:38] Why Molly persists even when everything is against her [40:28] The power and benefit of meditation in Molly’s life (and mine) Resources & People Mentioned SPONSOR: https://ScoutRFP.com/negotiation Aaron Sorkin, Director  Connect with Molly Bloom Molly on Instagram: @ImMollyBloom Molly on Twitter: @ImMollyBloom Follow Molly on LinkedIn MOVIE: Molly’s Game (about her life) Molly’s book “Molly’s Game” 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

Stan Garber and Alex Yakubovich have sought venture capital financing more than once and each time they’ve done it, the stakes have been higher. Their most recent round of investment for Scout RFP has drawn the attention of companies like Workday and Salesforce. That’s not only a huge boost of confidence for them but also a good sign of how effectively these two guys are at building the relationships that result in funding. Listen to hear how Alex and Stan have gone about seeking venture capital financing for their startups, how it’s happened for Scout RFP most recently, and what they recommend to anyone who is interested in seeking VC funding for their venture. Outline of This Episode [2:55] How the Scout RFP team discovered and solved for the needs in procurement [6:40] An elegant and simple tool makes for wider adoption within an industry [9:22] How to navigate the venture capital financing maze [12:30] The most important part about raising money [15:19] How does it feel to give up equity to venture capital firms? [20:56] The confidence that comes the second time seeking venture capital financing [27:31] What is Spark? [30:24] What can procurement people learn from salespeople? Resources & People Mentioned SPONSOR: www.ScoutRFP.com/negotiation   Scale Venture Partners Workday Salesforce Connect with Stan and Alex Scout RFP Alex on LinkedIn Stan on LinkedIn Scout RFP on LinkedIn The Scout RFP SPARK Conference 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

There are few people I know who are as competent and smart about how the negotiation questions we use impact the way the conversation goes than Dan Oblinger. Dan’s experience as a hostage negotiator coupled with his drive to understand the impact of deep listening is at the root of this superpower. He’s a fount of nuanced knowledge and he shares it so generously during this conversation. We talk about what he calls “Garbage questions” and why they are so bad, why we need to ask questions that deserve to be answered, and how we can KNOW we are utilizing the best questions possible. There is so much information in this episode you should listen to it twice — and take notes both times! Enjoy! Outline of This Episode [2:05] Dan Oblinger’s insights into the role of negotiators and the power of negotiation [4:22] Most of the questions you ask are based on your preferred approach (and it’s horrible) [5:59] How can we ask questions that deserve to be answered? [13:01] Why questions are super risky but the simplest path to deep emotional responses [15:07] Are there ways to over-empathize as you ask questions [20:13] How to keep emotions in check when conversations begin to escalate [26:55] Why you need to treat the other person’s story with respect [31:06] Curiosity is at the heart of good questions — and it requires humility Connect with Dan Oblinger Dan’s website: https://masterlistener.com/  Dan Oblinger 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

  It’s an extreme pleasure to speak with a person as thoughtful and well-versed in topics pertinent to negotiation as Robert Greene. He’s a prolific author who’s penned works that inform and highlight the timeless principles behind great leadership, power, and influence. In this conversation, we discuss why power is not always built on bad motives, why using misdirection and masked intentions can be beneficial to negotiators, how predictability is the death of good negotiations, action VS planning in negotiation, and more. Join us for this wide-ranging but insightful conversation. In characteristic style, Robert shares his well-researched insights on a number of topics you’ll find applicable to both negotiation and procurement. Outline of This Episode [1:40] Robert’s background and the reasons behind his most recent book [4:31] Is it naive to wonder why we can’t all get along? [8:17] Power is not necessarily corrupt or built upon bad motives [12:09] What does it mean to mask intentions and use misdirection? [14:26] Predictability is the death of many negotiations [20:07] Why is fearlessness so important? [22:37] Action VS planning in negotiation styles [28:51] An example of how short-term thinking caused a company to go under Resources & People Mentioned BOOK: The 48 Laws of Power BOOK: The Art of Seduction BOOK: The 33 Strategies of War BOOK: The 50th Law BOOK: Mastery BOOK: The Laws of Human Nature 50 Cent John D. Rockefeller Machiaveli BOOK: The Art of Negotiation SPONSOR: https://ScoutRFP.com/negotiation Connect with Robert Greene Robert’s blog: https://powerseductionandwar.com/ Robert on Twitter: @RobertGreene 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

The skills required to be a great negotiator are also powerful tools in the arsenal when it comes to getting the meeting with the decision-makers on your list of prospects. Both require savvy, knowledge, and people skills that go beyond the ordinary tactics most salespeople and negotiators are willing to employ. Stu Heinecke explains how those who are willing to go outside the normal channels and to use unorthodox but personalized approaches can not only get the meeting but close sales at unprecedented rates. Listen to hear all the details.  Outline of This Episode [0:30] Why we have a cartoonist on the podcast for this episode [2:48] Why Stu (a cartoonist) wrote a book about booking meetings [8:55] Factors that go into making your outreach stand out [13:12] Personalized, direct, targeted, and in an “open” channel of contact [15:05] Touchpoints for the executive assistant [18:01] Social media — and why most are insignificant and must go offline [20:50] Ideas for how to reach out in creative but effective ways  Resources & People Mentioned The Edgy Conversations Blog Orabrush - one of Stu’s success stories  Connect with Stu Heinecke Stu Heinecke on LinkedIn BOOK: How To Get A Meeting With Anyone Stu’s podcast: How To Get A Meeting With Anyone BOOK: Get The Meeting 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

When you hear the term “social hacking” you might think of a covert, manipulative way of prying into someone’s life. That’s not at all what we’re talking about when we apply the term to negotiation. Social hacking is an approach to information gathering that comes from the discipline known as “Social Engineering.” That's a field that my guest, Chris Hadnagy has become known for. Chris is the CEO, Founder, and Chief Human Hacker of Social-Engineering, LLC, and author of the phenomenal book, “Social Engineering: The Art of Human Hacking.” In this conversation, you’re going to learn what social engineering really is, why it doesn’t have to be a negative thing, and how to use its techniques to gather information and gain a competitive advantage that leads to success in your negotiation and procurement responsibilities. Outline of This Episode [0:36] Why you’ll enjoy this insightful and provoking conversation with Chris [1:30] How Chris moved into this realm and what he means by the term “Social Engineering” [3:53] Could you walk into a cafe and gain information by what you see? [8:27] Three things to master in order to become a master of conversation [13:49] What is preloading and how does it work? [17:07] How to verify information through deliberate false statements [21:00] Maintain the relationships you’ve allowed to wane through instant rapport Resources & People Mentioned BOOK: Social Engineering SPONSOR: ProcureCon West: Use the code “PIW19NN” Connect with Chris Hadnagy Follow Chris on LinkedIn Follow Chris on Twitter: @HumanHacker Chris’ company Social-Engineer Social-Engineer on LinkedIn Social-Engineer on Twitter: @SocEngineerInc 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

The science of influence is fascinating. It’s one of the ways those of us in procurement or involved in negotiations can learn to be better at our craft. This episode features author and speaker, Roger Dooley who I asked to teach us what science teaches about influence, and how we can use it to get better deals in our negotiations. Roger explains how to practically apply neuroscience, behavior technology, and behavior research (combined it's known as neuromarketing). How can procurement professionals use neuromarketing directly in negotiations? How do we influence someone to help them make decisions that are advantageous for us and helpful for them? This is brain science for procurement! Outline of This Episode [0:35] The history of persuasion and negotiation in Roger’s back story [4:49] Why “getting a deal” is a great motivator for higher spending [8:57] Split testing what you say in negotiations can bring great advantages [11:37] Why trusted stories beat statistics and data when it comes to persuasion [16:45] Using the science of influence to reduce sticker shock [22:43] How we can use neuroscience to build trust with others [35:45] Behavioral science teaches us the law of least effort Resources & People Mentioned BOOK: Brainfluence BOOK: Friction BOOK: To Sell Is Human BOOK: Predictably Rational Get 25% off by suing this code: PIW19NN - code for https://ProcureConWest.com Connect with Roger Dooley Roger’s website: https://www.rogerdooley.com/ 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