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“It’s not how you start, it’s how you finish.” In the last S4N episode of 2024, Gene breaks down the deal that sent shockwaves through the MLB just last week, when Juan Soto left the New York Yankees to play for the team’s bitter rival, the New York Mets.
Explore how risk analysis and risk tolerance play into negotiations, learn how to flip the script from buyer to seller and gain the upper hand in a deal, and examine the importance of patience in a risk-tolerant environment. Plus, learn why a big offer isn’t always one you should accept.
We’ll be back in your feed on January 7. Until then, thank you for a great first year, happy holidays, and remember: negotiation is life.
Mentioned in this episode:
Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street by Sheelah Kolhatkar Billions, the TV show created by Brian Koppelman, David Levien, and Andrew Ross Sorkin "Inside Juan Soto Landing the Biggest Contract in Pro Sports History from Steve Cohen's Mets" by Patrick Mooney, Will Sammon, Brendan Kuty and Ken Rosenthal for The Athletic -
Ever been tempted to jump at a deal so a competitor doesn’t get it first? Ever wanted something to work so badly that you’d rather get something done quickly than get it done right? So did the investors in Elizabeth Holmes’s catastrophic Theranos start-up.
This week on S4N, Gene takes a closer look at one of the biggest business scandals to captivate the public in the last ten years – what would’ve been the industry-altering medical device company Theranos – and how the negotiations between Theranos and Walgreens enabled the ensuing disaster. Use this cautionary tale to explore the concept of due diligence, the dangers of influence by association, and why devil’s advocates are your biggest business assets. Plus, break down why the speed of a negotiation matters, learn the “porch rule,” and discover why you shouldn’t sell ice to Eskimos. Remember: negotiation is life.
Mentioned in this episode:
Bad Blood: Secrets and Lies in a Silicon Valley Startup by John Carreyrou The Dropout, a Hulu mini-series “#6: Too Much “I” In Team: Why A Diverse Negotiation Team Matters,” Station 4 Negotiation episode from April 9, 2024 “#7: Fins To The Left, Fins To The Right: How to Sweet Talk Sharks + Close Deals with Them, Too,” Station 4 Negotiation episode from April 23, 2024 The West Point Way of Leadership by Larry R. Donnithorne -
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On October 1, the International Longshoremen’s Association briefly went on strike, causing consumer anxiety over supply shortages and economic impacts. Looking ahead to January 15, when the strike will resume unless an agreement is reached, Gene does a deep dive into negotiations with the ILA and asks: how can the timing of a negotiation impact its efficacy? What problems does inflexibility create? And - what do you do if someone can’t seem to accept economic reality?
Learn the best ways to react to the first move made, understand why calling something “non-negotiable” can be dangerous, and explore the complexities of the ILA negotiations. Plus, get Gene’s take on the use of new technology in business. Remember: negotiation is life.
Mentioned in this episode:
"A Candid Conversation With ILA President Harold J. Daggett On Wide Range of Important Topics" – video "The Longshoremen Strike Is A Battle Of Workers Vs. Automation" by Jack Kelly for Forbes "Dockworkers’ union suspends strike until Jan. 15 to allow time to negotiate new contract" by Tom Krisher for the Associated Press -
Take a break from election content and learn negotiation tips and tricks using ANOTHER topic that's been in the news recently: baseball!
This week, Gene dives into the world of MLB contract negotiations throughout history and what we can take from each of them to become better businesspeople. Explore the importance of having options and how to create them, do a deep dive into the good and bad of arbitration, and see firsthand why it's important to trust but verify. Remember: negotiation is life.
Mentioned in this episode:
"Ball Four" by Jim Bouton Federal Baseball Club v. National League Toolson v. New York Yankees, Inc. -
Ever negotiated with someone who will concede almost everything... except for one really big thing? This week on S4N, Gene explores Ronald Reagan's failed negotiation with Mikhail Gorbachev regarding the nuclear arms race - and breaks down why one man who conceded almost everything still couldn't get a deal done.
Learn how to identify the other side's sticking point, explore and avoid the pitfalls of "shiny object syndrome," and gain negotiation tools straight from American diplomats. Plus, define asymmetric responses and how to handle them, discover how involving someone outside of the negotiation team can help resolve negotiated points, and dare to ask the ever-present question: are you fighting about nothing? Remember: negotiation is life.
Mentioned in this episode:
An Impossible Dream: Reagan, Gorbachev, and a World Without the Bomb by Guillaume Serina -
Circling back, pain points, pivoting, deliverables… how many jargon-y words can you remember hearing in a business setting? Probably a lot more than 7. And yet, despite being designed to energize and motivate team members, have you ever been inspired by one of those buzzwords? Have some of them left you even MORE confused?
This week on S4N, Gene explores how we can move from communication gimmicks, trends, and tactics to real, effective conversations. Using Habit 5 from Stephen Covey’s renowned book “The 7 Habits of Highly Effective People”, learn how to build on classic mirroring and labeling, retire autobiographical listening and its pitfalls from your business toolbox, and practice both clear communication and empathetic listening.
Plus, discover the “bar rule” for communicating, learn strategies that will make it easier to understand your negotiating partners, and identify the difference between sounding smart and being smart. Remember: negotiation is life.
Mentioned in this episode:
"The 7 Habits of Highly Effective People" by Stephen Covey "Win Every Argument: The Art of Debating, Persuading, and Public Speaking" by Mehdi Hasan United States v. Marshall -
This week on S4N, Gene is... encouraging gambling? No, he's not, but he IS going to teach you how to get better at negotiation by thinking of it like a game of poker.
Learn how to make better decisions, how to analyze your decisions so you get better at decision-making, and how to think in terms of probabilities, not right or wrong.
Plus, learn the concept of resulting and how to avoid its pitfalls, understand backcasting and pre-mortems and how YOU can use them to get better deals done, and discover the CUDOS framework for decision-making. Remember: negotiation is life.
Mentioned in this episode:
"Thinking In Bets: Making Smarter Decisions When You Don't Have All The Facts" by Annie Duke Rova Farms Resort v. Investors Ins. Co. -
This week on S4N, Gene runs a retrospective on Joe Biden’s recent deal to release Evan Gershkovich from Russian prison. Using one of the most relevant examples of 2024, learn how to work within red tape, stay focused on your primary goal, and evaluate trade-offs based on your priorities.
Plus, avoid paralysis by analysis, get comfortable with positioning behind the scenes, and gain skills for negotiating in the midst of a moral dilemma. Remember: negotiation is life.
Mentioned in this episode:
“Inside the Secret Negotiations to Free Evan Gershkovich”, the Wall Street Journal piece by Joe Parkinson, Drew Hinshaw, Bojan Pancevski, and Aruna Viswanatha
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Can you ever compromise your positions in a negotiation? Should you compromise them? Will you lose power if you do?
This week on S4N, Gene explores the difference between principles and positions through the lens of the US Civil War and the resulting negotiations between the Union and the Confederacy. Learn how to compromise on a position without weakening your negotiating power, explore the dangers of using intermediaries to communicate negotiation positions, and pinpoint why you can't ignore the elephant in the room - even when the topic is likely to polarize it.
Plus, talk about how to find common ground and maintain personal connection even when professional agreement can't be reached, and learn the #1 failure of CEOs. Remember: negotiation is life.
Mentioned in this episode:
Lincoln, the 2012 film directed by Steven Spielberg "Our One Common Country: Abraham Lincoln And The Hampton Roads Peace Conference Of 1865" by James Conroy Your independent book store recommendation: Sleepy Dog Books, Mt. Pleasant, MI -
This week on S4N, Gene is breaking down the horrific violence in Gaza from a negotiator’s perspective, starting with the question: how did we get here?
Dive into the history of bad negotiations that got us to this point, study why self-determination can go bad, and learn how to determine who has the actual power in a situation.
Plus, explore why smaller goals are often better, gain tools you can use to circumvent disputes, and investigate why binary thinking kills. Remember: negotiation is life.
Mentioned in this episode:
"Paris 1919: Six Months That Changed the World" by Margaret MacMillan PeacePlayers International -
Have you ever worked with someone who refused to work with you? A boss who had lofty goals, yet was completely out of touch? Someone so sure they were right that they failed to see where things could go wrong?
This week on S4N, Gene looks at this type of negotiator and highlights their weaknesses, mistakes, and pitfalls so that YOU can avoid being that person in your own deals. Learn about the credibility gap and how to close it, identify the messages you unconsciously send to your negotiating partners, and explore the risks of an all or nothing mindset. Plus, dive into implementation, highlight the importance of flexibility, and gain tools to avoid boxing yourself in. Remember: negotiation is life.
Mentioned in this episode:
"In Flanders Fields" by John McCrae "Paris 1919: Six Months That Changed The World" by Margaret MacMillan Your independent bookshop recommendations: Boulder Bookstore, Boulder, CO Buxton Village Books, Buxton, NC Buxton Books, Charleston, SC -
How do you negotiate with bad people? This week on S4N, Gene takes you through the tactics your adversary might use against YOU and how to neutralize them. Explore the host vs. guest framework of negotiation, evaluate deals using a “negotiation budget,” and learn when NOT to make concessions.
Plus, define confidence vs. courtesy and concession vs. compromise, build your business acumen with the use of psychology, and break down a negotiation that involved the worst person to ever walk the earth. Remember: negotiation is life.
Mentioned in this episode:
The Hunt For Red October, the 1990 film directed by John McTiernan “The Kremlin School of Negotiation” by Igor Ryzov The Order of the Day” by Eric Vuillard Your independent bookshop recommendations: Watchung Booksellers, Montclair, NJ Horizon Books, Traverse City, MI Booktrader of Hamilton, Hamilton Township, NJ -
Mentioning puppies and Putin in the same podcast? Gene sure did. This week on S4N, Gene explores the Brittney Griner case as a teaching tool for negotiating with unreasonable people. Learn what the Kremlin can teach you about dealmaking (yes, really), break down the difference between emotional and rational decisions + their impact on negotiation, and dive into publicity’s impact on dispute resolution.
Plus, gain tactics for coping with unreasonable people, discover the matrix of replaceability, and harness the power of opening a back channel - and the power of knowing when to keep it closed. Remember: negotiation is life.
Mentioned in this episode:
“Strongmen: Mussolini to the Present” by Ruth Ben-Ghiat “The New Tsar: The Rise and Reign of Vladimir Putin” by Steven Lee Myers “The Kremlin School Of Negotiation” by Igor Ryzov “Government Negotiations: The Brittney Griner Case” by Katie Shonk for the Harvard Program on Negotiation “Brittney Griner Evaluated After Prisoner Swap” by New York Times staff -
Does negotiation really still work in an increasingly disagreeable culture? How do you create structure in difficult dealmaking? How do you keep momentum going when things are tense? How do you close that kind of deal?
This week on S4N, Gene examines the ethno-nationalist conflict in Northern Ireland, widely known as “The Troubles,” to see what it can teach us about modern-day dealmaking. Learn about the Mitchell principles of negotiation, sharpen your understanding of the strategic use of deadlines, and tuck Gene’s “morning-afternoon-evening” approach to difficult negotiations in your back pocket. Plus, break down the importance of “buying a ticket to the dance,” gain tools for negotiating with belligerent parties, and get tips on how to identify and seize what Gene calls the moment of courage. Remember: negotiation is life.
Mentioned in this episode:
“No Hope For Tomorrow,” a poem by Irish woman Karen Woods “Making Peace” by George Mitchell Your independent bookshop recommendations: Pegasus Books, Oakland, CA Warwick’s, La Jolla, CA Anderson’s Bookshop, Naperville, IL -
“Greed, for lack of a better word, is good.” That’s an infamous line from the 1987 movie Wall Street, starring Michael Douglas as the high-powered financier Gordon Gekko. But is greed good?
This week on S4N, Gene explores the double-edged sword of greed and how it impacts your negotiations. Learn common pitfalls to avoid, discover the difference between pushing the envelope and pushing buttons, and reverse engineer a high-profile failed deal so that you don’t make the same mistakes. Plus, learn about leveraged buyouts and negotiating with private equity, explore why getting cozy with management is important, and uncover why a bidding war can mean trouble for a deal. Remember: negotiation is life.
Works mentioned in this episode:
Wall Street, the 1987 film directed by Oliver Stone “Barbarians At The Gate” by Bryan Burrough and John Helyar Barbarians At The Gate, the 1993 film directed by Glenn Jordan -
This week on S4N, Gene conducts a post-mortem on the tragic Waco massacre and asks the question: what happens when a negotiation fails? Learn about overcommitment, the impact a chain of command can have on the negotiation process, why controlling information and coordinating effort is key, and how a game of telephone can kill your negotiation. Plus, check out how to use the “trickle flow gush” strategy in extremely difficult negotiations, gain tools for navigating multilevel negotiations, remind yourself why you really need active listening and mirroring, and learn why the punishment mindset gets you nowhere. Remember: negotiation is life.
Works mentioned in this episode:
“Stalling For Time: My Life As An FBI Hostage Negotiator” by Gary Noesner “Dragnet,” the 1950s NBC drama series later remade to star Dan Aykroyd -
What’s the difference between negotiation and persuasion? How do we persuade others? How do we handle others who try to persuade us? This week on S4N, Gene takes you back to debate class as he examines tactics straight from the Oval Office and breaks down the elements of good – and bad – persuasion.
Learn the difference between critical and empathetic listening, understand what coaches really mean when they talk about active listening, and gain tools you can use when the other side overwhelms you. Plus, apply the Aristotelian triangle to negotiation, learn how to recognize – and avoid – a Gish gallop, and show some love to your favorite independent bookstore.
Mentioned in this episode:
Parnassus Books, Nashville, TN Landmark Booksellers, Franklin, TN The Town Book Store, Westfield, NJ Barnes & Noble, Brentwood, TN “Win Every Argument: The Art Of Debating, Persuading, And Public Speaking” by Mehdi Hasan “Dave”, the 1993 film directed by Ivan Reitman Zeno of Citium, Hellenistic thinker and founder of the Stoic school of philosophy -
We’ve all heard the advice “always be closing,” but… should we be? This week on S4N, Gene pushes back on that advice. Join him as he breaks down how to determine your next move, the best way to get implementation buy-in, and, yes, how to get a deal done. Plus, go from novice to pro when using calibrated questions, learn how to make emotional appeals rational, and figure out the experts’ secrets for pointing even the most difficult deals in the right direction. Remember: negotiation is life.
Works mentioned in this episode:
“How To Sweet Talk A Shark: Strategies And Stories From A Master Negotiator” by Bill Richardson and Kevin Bleyer “Glengarry Glen Ross,” the 1992 film directed by James Foley -
Do diverse teams get better deals done? Is it better to work with people who are just like you? Does anyone's DEI training really work? This week on S4N, Gene examines how diversity - in particular, gender diversity - affects negotiation teams. Join him as he explores the relationship between diversity, risk assessment, and negotiation and takes a look at the role of confirmation bias in dealmaking. Plus, learn about the ever-important task of salary negotiation, how we could've saved ourselves from the 2008 market crash, and why sometimes getting to no is more important than getting to yes.
Works mentioned in this episode:
"Own It: The Power Of Women At Work" by Sallie Krawcheck "10-10-10: A Life Transforming Idea" by Suzy Welch Sallie Krawcheck's investment platform and financial literacy program for women, Ellevest "Never Split The Difference: Negotiating As If Your Life Depended On It" by Chris Voss and Tahl Raz -
What do movies teach us about how to craft compelling points in negotiation? What kind of groundwork should we lay to facilitate a productive deal? Do ultimatums ever work? This week on S4N, Gene uses "The Godfather" to break down how to negotiate like a boss (just not that kind). Learn why the word "fair" doesn't always have a place in negotiation, explore the role that anger plays in the negotiating room, and examine what works and what doesn't about the Corleone family's approach to dealmaking (hint: leave the threats, take the stoicism). Plus, for something different, listen as Gene makes his case for an unlikely connection between "The Godfather" and another film.
Works mentioned in this episode:
The works of Gerald Mast, specifically "The Comic Mind: Comedy And The Movies" "The Godfather" by Mario Puzo "The Godfather," the 1972 film directed by Francis Ford Coppola "Elf," the 2003 film directed by Jon Favreau "The Art Of War" by Sun Tzu - Mehr anzeigen
