High-Stakes Negotiation Techniques With Adam Galinsky

High-stakes negotiations can make or break organizations. It's down to leaders to secure good outcomes. In these three videos, Professor Adam Galinsky teaches us how.

Video 1: Preparing for High-Stakes Negotiations

Key Takeaways: before the negotiation

• The risk is real. High-stakes negotiations mean the outcome matters, and there is significant risk involved.
• Understand what success means. What is it I want? How can I quantify it? Where do I stand going in? Answer these questions for both yourself and the other side of the table.
• Get in the right state of mind. Recall positive past negotiations to improve your confidence and calm your nerves.

Video 2: What to Do at the Negotiation Table

Key Takeaways: at the negotiation table

• Make the first move. The data shows that, on average, there is a first-mover advantage in negotiations.
• Offer, don't demand. Frame your position in a way that implies you are giving something, rather than taking. For example, "I'll give you X for Y," instead of "I want X for Y."
• Present a choice. Even when the offers are equivalent, research shows that you're more likely to reach an agreement.
• Regulate your emotions. If you're calm and collected, you'll minimize mistakes.

Video 3: Real-World Examples of High-Stakes Negotiations

Key Takeaways: real-world negotiations

• The Cuban Missile Crisis. On the precipice of nuclear war, the Americans realised they needed to give their opponents a "win." This consideration of all sides helped to de-escalate the situation.
• The Columbia Lions. A new coach turned around the fortunes of the flailing football team by understanding what he needed to change – and negotiating the change before taking over.
• Negotiations make the difference. Be it your career or the future of your organization, negotiations have an outsized impact on success. Use these techniques to get what you need in high-stakes negotiations.