Ep 35 - Margaret A. Neale, Professor Emerita at Stanford: “Getting (More of) What You Want”

Learn more about Michael Wenderoth, Executive Coach: www.changwenderoth.comAlmost every interaction we have involves negotiation – yet most of us fail to apply sound strategies that would get us more of what we want. Margaret Ann Neale, Distinguished Professor Emerita at the Stanford Graduate School of Business, shares research from her book, Getting (More of) What You Want, which shows how inexperienced negotiators regularly leave significant value on the table—and reveals how you can claim it. We break down a live negotiation example to help you understand -- and be able to apply -- the evidenced-based principles from her research.SHOW NOTES:From pharmacist to thought-leader in negotiationA personal negotiation, in which Maggie got more of what she wantedNegotiation as problem-solvingApplying Maggie’s four principles to a real-life negotiation → Assess, prepare, ask and packageAssess: what’s important to you in the negotiation“The goal is not to get a deal, it’s to get a GOOD deal”“The more uncomfortable you are, the more important planning and preparation is”The 3 parameters you need control ofSources of power: “If you can’t walk away, it’s not a negotiation”Better your alternative, better the outcome - but there can be a downside to that…Becoming a trapeze artist: think of your alternative as a safety netWhat happens if I don’t reach the deal?Techniques to think creatively within negotiations, escaping tunnel mindsetThe danger of single-issue negotiationsLooking at the interest of the other sideHow to find out the other sides’ interestTipping point (and when you should leave the deal)Set an aspirationFraming your proposal as a solution to your counterpart's problemBeing a good listener is key to your proposalNegotiation is not a fight.. Armor up and you have already lostWalking the tightrope between value creation and value claimingHow to overcome nervousness about askingAsk for what you want… cause people can’t read your mind!Should you make or receive the first offer? Heed the empirical evidence“Anchoring and insufficient adjustment” -- and information asymmetryA twist about Michael’s clientBIO AND LINKS:Margaret Ann Neale is the Adams Distinguished Professor of Management, Emerita, at the Stanford Graduate School of Business. Author of six books and more than r70 articles, she is a pioneer and influencer in the fields of negotiation, decision-making, and team performance. Neale's work has influenced academics, business professionals, and industry experts, who seek her advice on effective negotiation tactics, decision-making, and the role of diversity in team performance. In addition to her research and teaching, Neale has shaped Stanford's curriculum, established the school's behavioral lab, and fostered diversity and mentorship among junior faculty. She has also achieved several notable "firsts" at the school, including being the first woman to hold a tenured professor position, serve as an associate dean, and win the Davis Award for academic excellence and service.Maggie’s Book website and negotiation resources: Getting (More of) What You Want: https://gettingmoreofwhatyouwant.comMaggie on Linkedin: https://www.linkedin.com/in/margaret-a-neale-9a97833/Maggie’s faculty profile: https://www.gsb.stanford.edu/faculty-research/faculty/margaret-nealeMaggie’s co-author, Thomas Lys: https://www.kellogg.northwestern.edu/faculty/directory/lys_thomas.aspxCelebrating Maggie’s impact at Stanford: https://www.gsb.stanford.edu/newsroom/school-news/celebrating-margaret-neales-impact-stanford-gsbMichael’s Book, Get Promoted: https://changwenderoth.com/#tve-jump-180481ecea3Advertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

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