Negotiation (I) sparked some interesting replies. Thank you!
Here are my notes from a follow-up conversation with a friend.
- Negotiation is built on trust
- Seek to understand incentives
- Don't assume your incentives are the same as theirs
- People are motivated by looking good
- Ideally, both sides need to "win"
- Try to turn single-issue negotiations into multi-issue ones
- If you're going to bluff, have something in your hand
- It usually helps to write things down
- To make things less personal, negotiate on behalf of someone / something else
- For verbal agreements, assume the best
- For written contracts, assume the worst
- Identify one-off vs. continuous negotiations
- Asymmetric information poses risks
- Humans have natural instincts towards cooperation, selfishness, and altruism (see: Prisoner's Dilemma)
re: the prisoner's dilemma" ☝
Keep the feedback coming.
I learn a ton from Fire Jar readers!