The Art of Charm Victoria Medvec | Master Negotiation By Avoiding These 3 Traps
Understanding Leverage
- Leverage in negotiation involves two distinct aspects: your best outside option and the other side's options.
- Analyze both to set ambitious goals and determine your bottom line.
Creating Win-Win Outcomes
- Win-win negotiations involve identifying trade-offs that benefit both parties.
- Use an issue matrix to visualize the relative importance of issues to each side and optimize trades.
Ask Clarifying Questions
- Don't make assumptions about the other party's needs; ask clarifying questions.
- Understanding their perspective helps uncover potential win-win opportunities.
In today’s episode, we cover negotiation with Dr. Victoria Medvec. Dr. Medvec a master negotiator, Kellogg professor, CEO of Medvec & Associates, and is the author of Negotiate Without Fear: Strategies and Tools to Maximize Your Outcomes.
Negotiating is a part of life, personally and professionally, so how should we be looking at it, how can we remove the fear and anxiety from negotiating, and what strategies can you implement from a professional negotiator to take your negotiating skills to the next level?
What to Listen For
- Dr. Victoria Medvec’s origin story – 1:35
- What do great negotiators enjoy about the act of negotiating?
- What are the biggest fears people have about negotiating that prevent them from getting what they deserve and what can you do to overcome those fears?
- What is the most important element of effective negotiation and how can you use it to overcome your fears of negotiating?
- Creating win-win negotiation outcomes – 12:59
- How can you think about future negotiations in a way that makes both parties excited about the outcome?
- What questions can you ask in a negotiation to get a better understanding of what the other party is looking to get out of the negotiation?
- What does it mean to prepare for a negotiation and how can you show the other party during the negotiation that you’ve put in the work ahead of time?
- Common traps many expert negotiators fall into – 23:07
- What are the 3 most common traps experienced negotiators fall into and what can you do to avoid falling into those traps?
- How do you bring creativity into negotiating to ensure both parties walk away from the negotiation with a win?
- Why are emotion and storytelling important in the art of negotiation?
- Managing emotions during negotiations – 37:00
- What 4 steps can you take to manage the emotions during negotiations to prevent them from ruining a deal and making you and/or your company look bad?
- How do you effectively negotiate your salary to get what you deserve while also giving the company a positive outcome?
- How do different generations view negotiation and why is it important?
- What are
We typically associate the word “negotiation” with negotiating a raise or negotiating the price of a car, but in reality just about anything can be negotiated. Unfortunately, many of us never try to negotiate because negotiating seems intimidating, or we just assume the price or cost of something is set in stone. If you want to get what you deserve out of life, no one is going to give it to you, you must be willing to know your worth and ask for it.
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Resources from this Episode
Negotiate Without Fear by Victoria Medvec
Medvec & Associates: Critical Decision and Negotiation Partners website
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