Negotiation

How You Make a Memorable Elevator Speech

September 29, 2022 By Nagesh Belludi Leave a Comment

How You Make a Memorable Elevator Speech With an elevator speech, you not only have a short time to elicit someone’s interest but also the added challenge of standing out from the crowd.

Your only goal should be to say something intriguing, memorable, and unique, prompting the prospect to lean in and invite, “Wait … do tell me more.”

I’ve listened to hundreds of elevator languages, and the few that continued out are the ones that sparked a conversation. Sameness and clichés are boring—everything sounds more or less the same. If, on the proverbial elevator, one must decide between ‘different’ or ‘better,’ one would choose ‘different.’ People remember ‘different.’

So, presenting yourself in the best possible light involves saying something snappy and ditching the details. Be concise and coherent, but not vague. Appear mysterious and confident, but not arrogant.

Idea for Impact: With an elevator speech, you’ll be forgotten if you aren’t unique and memorable. Rehearse your message well and be ready to perform it flawlessly at a moment’s notice.

P.S. My elevator speech: “Hi, My name’s Nagesh. I’m an investor. I’m just like Warren Buffett, except that I deal with a lot fewer zeros than him.”

Hooked on Feeling Needed?

September 23, 2022 By Nagesh Belludi Leave a Comment

Hooked on Feeling Needed: Helicopter Parenting Fosters Failure If, like many people, you just can’t say ‘no,’ consider if you’re hooked on feeling needed.

Take a hard, long look at yourself and examine if you unwittingly encourage—even need—people to come to you for every little thing.

Do you find affirmation in feeling needed? Do you try to do too much for others? Faced with an unpleasant task, do you look to turn our attention elsewhere? Do others’ interruptions offer reasons to do what you needn’t do and excuses to avoid doing what you’re supposed to do?

Idea for Impact: The greatest gift you can give those who need you is carving out time for your own critical tasks so you can be available when they really need you.

Competitive vs Cooperative Negotiation

August 24, 2022 By Nagesh Belludi Leave a Comment

Does a competitive person make a better negotiator than a cooperative person? Wharton professor G. Richard Shell’s insightful Bargaining for Advantage: Negotiation Strategies for Reasonable People (2006) contends there isn’t a straightforward answer.

Competitive people don’t mind interpersonal friction and thus initially have the upper hand over less aggressive personalities with little appetite for friction. However, competitive people generally lack skills in managing relationships, which gives cooperative people an advantage in situations where interpersonal trust over the long term is crucial. It’s easier to negotiate against someone who has a similar personality. Negotiation gets dicier when different personality types mix.

How to improve your results? Practice. Prepare through information-gathering and setting achievable but optimistic targets for the negotiation process.

The #1 Learning from Sun Tzu’s Art of War: Avoid Battle

July 11, 2022 By Nagesh Belludi Leave a Comment

The Art of War, Chinese strategist-philosopher Sun Tzu’s treatise on military strategy, is studied not so much for the advice it gives but for the state of mind it encourages. Developed in only six thousand Chinese characters and 25 pages of text, this way of thinking has held vast sway in such fields as military planning, strategic management, and negotiating. “Every battle is won or lost before it is fought.”

Something exceptional about the Art of War is the extent to which it’s devoted to methodically avoiding battle altogether. War isn’t something to be entered rashly or for petty reasons. “A sovereign should not start a war out of anger, nor should a general give battle out of rage. While anger can revert to happiness and rage to delight, a nation that has been destroyed cannot be restored, nor can the dead be brought back to life.”

Nor is war’s dominant purpose to cause physical destruction to an enemy. Instead, the pinnacle of military skill is to conquer one’s opponent strategically—by penetrating his alliances, rattling his plans, and coercing him diplomatically—without ever resorting to armed combat. “Why destroy,” Sun Tzu poses, “when you can win by stealth and cunning? To subdue the enemy’s forces without fighting is the summit of skill.”

Sun Tzu’s insistence that an enlightened strategist can attain victory without fighting echoes the foundational Taoist doctrine of “non-action (Wu-Wei.”) Armed conflict, therefore, is the last resort. War in itself represents a significant defeat. As a matter of course, Sun Tzu allocates a good chunk of the Art of War to the line of combat and attack. A savvy general must, however, take every accessible measure to gain victory swiftly, with minimal casualties and suffering for both sides. “The best approach is to attack the other side’s strategy; next best is to attack his alliances; next best is to attack his soldiers; the worst is to attack cities.”

Again and again, through implication, Sun-Tzu’s war document posits peace and restraint—the avoidance of battle—as the utmost victory. To fight at all, Sun-Tzu insists, is already a substantial loss, much worse than losing in war.

Idea for Impact: The Art of War is a worthy course on conflict management because avoiding confrontation requires more remarkable skill than winning on the battlefield.

Deliver The Punchline First

May 12, 2022 By Nagesh Belludi Leave a Comment

Deliver The Punchline First = Get to the Point

When Sergey Brin and Larry Page set about to secure early funding for Google, they initiated a presentation at Sequoia Capital, one of the world’s premier venture capital firms, with the logline “Google organizes the world’s information and makes it universally accessible.”

Most busy executives don’t want to sit through a 50-slide presentation. They don’t have the patience to wait for the punchline.

Begin with the conclusion and then go through the rest of your slide deck: your proposals, theses, assumptions, your line of thinking, and the arguments, pro and con.

Meaning, Then Details

Cognitive psychologists have argued that the brain pays more attention to the core of an idea than to its details.

According to the University of Washington molecular biologist John Medina, the human brain craves meaning before details. In Brain Rules (2014,) Medina notes, “Normally, if we don’t know the gist–the meaning–of information, we are unlikely to pay attention to its details. The brain selects meaning-laden information for further processing and leaves the rest alone.”

When listeners comprehend the overarching idea of a pitch, they’ll find it easier to synthesize and digest the information.

Begin Your Next Executive Presentation with the Final Summary Slide First

Most executives have limited willpower and suffer “decision fatigue.” Don’t overload them with less-important details before asking them to decide in your favor. Your “executive summary” slide may be the only one that will get full attention. So make it perfect!

Practice, practice, practice. Few people, if any, have the rhetorical ability to make a persuasive 15-second speech about their significant ideas. The best speakers are the best because they rehearse and get feedback.
Less is more. After getting prized facetime with executives, many talented young professionals produce large slide decks to dazzle the executives with their intelligence and ingenuity. Don’t.
Simplify your “executive summary” message. Perceptive executives tend to be somewhat skeptical of things that ought to be simple but have become too complicated.
Meaning, then detail. The brain processes meaning before detail, and the brain likes hierarchy. Start with the general idea and then present information in a structured, hierarchical approach. Make sure that each detail you communicate traces back to the core concept of your presentation.

Idea for Impact: Get to the Point

Tell busy people what they need to know upfront. Communicate like a newsperson: What’s the number one thing your audience needs to know? Say that first. Then build out from there, keeping the most essential particulars up top.

There’s another smart—if devious—benefit of putting the cart before the horse: delivering your “punchline” first can hook your audience with a compelling proposal first, and then cash in on the confirmation bias to sway them to your case.

Spy thriller novelist Graeme Shimmin offers this excellent guide to writing a killer punchline, logline, or elevator speech.

What Most People Get Wrong About Focus

May 5, 2022 By Nagesh Belludi Leave a Comment

In Choose Wonder Over Worry (2018) self-help author Amber Rae recalls novelist Elizabeth Gilbert’s interaction with a wise older lady who was helping Gilbert with her struggles as a writer:

Lady: “What are you willing to give up in order to have the life you keep saying you want?”

Gilbert: “You’re right—I need to start saying no to things I don’t want to do.”

Lady: “No, it’s much harder than that. You need to learn to start saying no to things you _do_ want to do, with the recognition that you have only one life, and you don’t have time and energy for everything.”

This anecdote is such a powerful illustration of how saying ‘no’ is so much easier when you’re clear about your priorities.

Saying 'no' is so much easier when you're clear about your priorities That’s what focus really is—saying ‘no’ to things you’d like to do so that you can free up your time to focus on the pursuits that truly matter—even tasks you have to do, even if they don’t energize and excite you.

Idea for Impact: Setting boundaries isn’t always easy, but it’s essential to establish an overall sense of well-being. Every ‘no’ is a ‘yes’ to something else.

Don’t find any excuse to say ‘yes’ to what shouldn’t be done.
Don’t find any reason to say ‘no’ to what should be done.

A Short Course on: How to Find the Right Relationship

March 28, 2022 By Nagesh Belludi Leave a Comment

Know yourself—what you want and what you don’t want. Having clear goals can help save you from being caught up in the moment and disregarding what it is you really want and need.
Have good boundaries—they’re how you should take care of your needs. Identify what’s healthy and what crosses that line.
Appreciate your value, and expect respect. Faults become thick when respect wears away. Assess concord in how you both approach openness, sincerity, and conflict resolution.
Get out there and meet a wide range of people. Be persistent in your search for the right relationship. Give people a fair chance. No one can be perfect. So, think about how you’ll work around their imperfections.
Don’t put people in a box, especially when there isn’t actually a box that characterizes who they are. Let yourself and the other person be who you each are. Don’t deny their individuality; be open to being surprised.

How to Mediate in a Dispute

October 11, 2021 By Nagesh Belludi Leave a Comment

In mediation, the parties in disagreement work out a mutually acceptable solution with the help of a neutral, third party mediator.

If you’ve been called to serve as a go-between in a dispute, here’s what you can do to help promote mutual understanding and resolution:

Set ground rules. Agree on how much time you’ll give to the mediation meeting. Keep the meeting close-ended. If there’re more than two parties, each with different views of a dispute, engage more than one mediator.
Have each party prepare a brief summary of their positions before the mediation and send them to you, and, ideally, to each other. The brief can explain positions, rationale, and motivation. The brief can also contain each party’s summary understanding of the opposing party’s arguments and counterarguments.
Insist that the each party have a clear understanding of their underlying intentions. What’s their best understanding of the basic objectives? What do they want to achieve? What’s rigid? What’s flexible? What are they willing to bargain?
At the start of the mediation meeting, remind each party that mediation is a voluntary process. Your role is to help the parties reach an agreement, not to reach an agreement for them. Say, “Nothing lasting will happen unless each of you participates in the solution. Any agreement you’re able to reach must be your own.”
Announce that your intention is to foster the interaction by helping each party understand one another’s perspectives and expectations. Encourage them to consider a wide range of solutions and to shun false dilemmas (“either-or” approach.) Push them to understand the other party’s underlying interests, not just their stated positions.
Outline how they’ll work together during the process. Get them to agree that they’ll deal with matters in a non-confrontational way and be open-minded about what the other wants.
Let each party make a preliminary presentation without interruption from the other parties. Then, encourage each party to respond directly to the other’s opening statements.
If the communications break down completely, restart the mediation process by separating the parties and talking to each party separately. Go between the two rooms to discuss the strengths and weaknesses of each position and to exchange offers. Continue the interchange until you’ve helped define an agreeable compromise.
When you’re talking to each party separately during a break down in the discussions, help each party hear the views of the other and identify areas of common ground for a resolution. After independent caucuses, if possible, bring the parties back together to negotiate directly.
Don’t stop each party from venting their frustrations, but try to keep them under control. If there’s rambling, gently pull the conversation back. Refocus on what needs to be achieved. Encourage them to remain open to persuasion.
Even with a well thought-out approach, some disagreements turn ugly. Re-focus the dialogue on the future. Remind the parties that they can’t fight over something that’s already happened, but they can set a course for going forward.
If the parties come to a resolution, draft the terms of a binding agreement and have both parties review it and sign it. Make sure the parties own the resolution, because they’re the ones who’ll live with the consequences.
If the parties don’t reach an agreement, help them decide whether it’d be helpful to meet again later, use a different mediator, or try other ways to resolve the issues.

These books are most helpful in negotiations, either when you’re the mediator or one of the parties in conflict: Roger Fisher et al’s Getting to Yes (1991, 2011; my summary) and Kerry Patterson et al’s Crucial Conversations (2011.)

If You Can’t “Think on the Spot,” Buy Yourself Time

September 30, 2021 By Nagesh Belludi Leave a Comment

The secret of “thinking on the spot” is to be prepared. Occasionally, though, when you’re put on the spot, the unanticipated questions and requests for your time and money can leave you feeling tongue-tied and wanting to head for the door.

To put your best response forward and prevent getting forced into some commitment that you might regret later, see if you can buy yourself some time.

When someone says something that you don’t agree with, and you can’t speak up at that moment, you can declare that you need to get educated on the subject before chatting about it further. Bonus: Conversations are often easier when you think through the nuances and get prepared to assert your positions.
When someone asks you to do something that you aren’t sure you want to do, buy yourself time by saying you must check on something or consult somebody before making a commitment. Bonus: Taking time before you say no can soften the news of your rejection.

Buy yourself more time and speak up later on your own terms. Even if you end up disagreeing with your interlocutor or declining her request, she’ll feel appreciated knowing you’ve given her opinion or request some thought.

Idea for Impact: Buying time—and sometimes stalling—is your prerogative. It shows consideration for others—and for yourself. It’s is a way of respecting your own wants and needs.

Commitment, Not Compliance

July 12, 2021 By Nagesh Belludi Leave a Comment

For some managers, fear is a dirty little secret … they use it when they are either unwilling or unable to persuade employees to work together to achieve goals.

Stop Leading Through Fear---Gain Commitment, Not Compliance Fear gets results but it does so at a cost. Fear is saps enthusiasm and stifles constructive deliberation.

Step back and work with your employee to determine performance objectives, goals, and priorities. Then, let your employee translate those objectives into tasks and determine how best to perform the task.
Don’t interfere excessively or micromanage. Don’t insist that there’s only “one best way” to do the job. Trust employees to make the right choices to reach the end result.
Don’t be a pushover, either. Be tough where you must be, kind where you can be. Managers can be strong without instilling fear. Be steadfast and unrelenting in your quest for getting results.
Let the employee customize the job to reflect her strengths and weaknesses to the extent possible, without compromising the core contributions expected of her role. Allowing the maximum possible use of your employees’ motivated abilities to achieve targeted results will not only use strengths to the maximum, but also drives intrinsic job satisfaction.
Take the time to get to know each employee’s unique set of talents. Try to dole out the available work to best match your employees’ talents.
Share the glory. Giving others a chance to claim credit is an easy, and effective, way to get results. As Dale Carnegie wrote masterful self-help manual How to Win Friends and Influence People (1936,) be “hearty in your approbation and lavish in your praise.” Learn to overlook small mistakes, but address problems before they escalate.

Idea for Impact: There is potentially no more powerful motivator than the intrinsic satisfaction that an employee could gain from autonomy under structure, and from using one’s motivated talents. Find ways to entice commitment from your employees. Don’t force compliance by virtue of authority.

Negotiation

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Meaning, Then Details

Begin Your Next Executive Presentation with the Final Summary Slide First

Idea for Impact: Get to the Point

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