Negotiating for Success Book Summary - Negotiating for Success Book explained in key points

Negotiating for Success summary

George J. Siedel

Brief summary

Negotiating for Success by George J. Siedel provides practical strategies for achieving win-win outcomes in negotiations. It offers valuable insights and actionable techniques to help you become a more effective and confident negotiator.

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    Negotiating for Success
    Summary of key ideas

    Understanding the Art of Negotiation

    In Negotiating for Success by George J. Siedel, we embark on a journey to understand the art of negotiation. The book begins by emphasizing the importance of negotiation in our daily lives, whether it's in our personal relationships or professional endeavors. Siedel introduces us to the concept of 'negotiation planning checklist' - a tool that helps us prepare for negotiations by identifying our goals, alternatives, and potential strategies.

    He then delves into the psychology of negotiation, explaining the significance of understanding the other party's perspective and emotions. Siedel introduces the concept of 'anchoring' - the tendency to rely heavily on the first piece of information offered when making decisions. He advises us to use this to our advantage by making the first offer in a negotiation, thereby setting the anchor.

    Building Power and Creating Value

    As we progress through Negotiating for Success, Siedel emphasizes the importance of building power in negotiations. He introduces the concept of 'BATNA' - Best Alternative to a Negotiated Agreement, which represents the course of action that will be taken if the current negotiations fail. Siedel explains that a strong BATNA increases our power in negotiations, as it provides us with a viable alternative to the current deal.

    Furthermore, Siedel introduces the concept of creating value in negotiations. He explains that successful negotiators focus on expanding the pie, rather than fighting over how to divide it. By identifying and leveraging differences in preferences and priorities, negotiators can create value and increase the likelihood of reaching a mutually beneficial agreement.

    Understanding and Mitigating Risks

    Continuing our exploration of negotiation strategies, Negotiating for Success delves into the importance of understanding and mitigating risks. Siedel introduces the concept of the 'zone of potential agreement' (ZOPA) - the range of options that would be acceptable to both parties when negotiating an agreement. He advises us to identify and expand the ZOPA to increase the likelihood of reaching a successful agreement.

    Moreover, Siedel emphasizes the significance of understanding and mitigating ethical and legal risks in negotiations. He introduces the concept of 'ethical fading' - the tendency to overlook ethical aspects of a decision when focusing on other aspects. Siedel advises us to be vigilant and consider the ethical implications of our negotiation strategies and decisions.

    Executing and Evaluating Negotiations

    In the latter part of the book, Siedel focuses on executing and evaluating negotiations. He introduces the concept of 'contracting capability' - the ability to negotiate and perform successful contracts, emphasizing that the success of high-level business strategies depends on the ability to negotiate and execute successful contracts.

    Finally, Siedel provides us with a practical plan for analyzing our negotiations, based on our reservation price, stretch goal, most-likely target, and ZOPA. He advises us to evaluate our performance as a negotiator, learn from our experiences, and continuously improve our negotiation skills.

    Conclusion: A Holistic Approach to Negotiation

    In conclusion, Negotiating for Success by George J. Siedel offers a comprehensive and holistic approach to negotiation. From understanding the psychology of negotiation to building power, creating value, and mitigating risks, Siedel equips us with the tools and strategies needed to negotiate successfully. By emphasizing the importance of planning, ethical considerations, and continuous improvement, Siedel's book serves as a valuable guide for anyone looking to master the art of negotiation.

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    What is Negotiating for Success about?

    Negotiating for Success by George J. Siedel provides practical strategies and techniques for achieving successful negotiations in both business and personal situations. Drawing on real-life examples and research, the book offers valuable insights into the art of negotiation, helping readers to develop their skills and achieve better outcomes.

    Negotiating for Success Review

    Negotiating for Success (2014) is a valuable resource that equips readers with effective negotiation techniques to achieve their desired outcomes. Here's why this book is a must-read:

    • Offering practical strategies and proven principles, it empowers readers to navigate challenging negotiations with confidence and skill.
    • By highlighting the importance of preparation and understanding the psychology behind successful negotiations, the book provides valuable insights into building mutually beneficial agreements.
    • With its engaging case studies and real-world examples, the book sustains reader interest, making the topic of negotiation not only informative but also enjoyable.

    Who should read Negotiating for Success?

    • Individuals who want to improve their negotiation skills
    • Business professionals looking to enhance their ability to create successful deals
    • Entrepreneurs seeking to maximize the value of their contracts and agreements

    About the Author

    George J. Siedel is a professor at the University of Michigan's Ross School of Business. With a background in law and business, Siedel has extensive experience in negotiation and has taught negotiation skills to both students and professionals. He has also worked as a consultant for numerous organizations, helping them improve their negotiation strategies. Siedel's book, "Negotiating for Success," draws on his expertise to provide practical advice and techniques for achieving successful outcomes in negotiations.

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    Negotiating for Success FAQs 

    What is the main message of Negotiating for Success?

    The main message of Negotiating for Success is to provide practical strategies and techniques to achieve successful negotiations.

    How long does it take to read Negotiating for Success?

    Reading Negotiating for Success takes a few hours. The Blinkist summary can be read in 15 minutes.

    Is Negotiating for Success a good book? Is it worth reading?

    Negotiating for Success is worth reading for its practical insights and actionable advice.

    Who is the author of Negotiating for Success?

    George J. Siedel is the author of Negotiating for Success.

    How many chapters are in Negotiating for Success?

    Negotiating for Success has 10 chapters.

    1. The Essence of Negotiation
    2. Preparation: The Key to Negotiation Success
    3. Win-Win Negotiation: Principled Negotiation
    4. Building Long-Term Relationships Through Negotiation
    5. Creativity and Problem Solving in Negotiation
    6. Multiparty Negotiation: The Power of Coalitions
    7. Emotions: The Devil at the Bargaining Table
    8. When Others Use Deception: Negotiating with Liars
    9. The Dark Side of Negotiation: Ethical and Unethical Tactics
    10. Managing Conflict: Negotiation Within Teams

    How many pages are in Negotiating for Success?

    Negotiating for Success contains 304 pages.

    When was Negotiating for Success published?

    Negotiating for Success was published in 2014.

    What to read after Negotiating for Success?

    If you're wondering what to read next after Negotiating for Success, here are some recommendations we suggest:
    • Start with Why (old version) by Simon Sinek
    • The Lean Startup by Eric Ries
    • Good to Great (old version) by Jim Collins
    • Crossing the Chasm by Geoffrey A. Moore
    • Delivering Happiness by Tony Hsieh
    • Built to Last by Jim Collins
    • Start-up of You by Reid Hoffman and Ben Casnocha
    • The $100 Startup by Chris Guillebeau
    • Inspired by Marty Cagan
    • ReWork by Jason Fried and David Heinemeier Hansson