27/7/2021 Trump, the Decider in Chief - Part 4We carry on with our look at Trump - this time he's throwing Anchors, Bullying and relying on his Branding 9. Trump keeps Throwing Anchors.
By making wild and crazy statements, Trump is anchoring negotiations, so that the other party has to fight just to get back to a reasonable solution, let alone one they want. Lesson - an anchor is a cognitive-bias that can change the other party’s view of the realistic deal: a car advertised with ‘any offers’ will get lower bids than one advertised at “£15,000”. Research shows anchors work. Research in Texas negotiating a $20,000 personal injury claim showed that those who started really high (over $1m) achieved a higher settlement than those that started at what we might consider to be a reasonable first offer. So get in first with an anchor, and if that’s not possible, to avoid overpaying you need to keep referring to your preparation notes for what the true value is, and remind yourself of your other available options. 10. Unpredictable Bully. That’s how NBC News described Trump; keeping people guessing about what he really wants, what he’s going to do next, all while he insults you and throws his weight around. Quite something to have to contend with! Lesson - Chris Vos is a former FBI negotiator and he considers the best weapons to use against a tactic like this are patience and silence; don’t be combative in return, continue to try and work through to a solution but if necessary just remain silent. In other words, don’t rise to the bait. And if the insults keep flying, then don’t be afraid to walk away - there is nothing that means you have to put up with that sort of behaviour, even to get a deal done. 11. Branding. What we see as ‘Trump’ has been cultivated over many years, such as his adoption of the nickname ‘The Donald’ (which apparently came out of his first wife Ivanka’s poor English). After his big debt issues in the early 90s, Trump effectively moved from development into branding, selling off sites but retaining naming rights, so that the Trump name would still be seen. With someone like Trump, at the negotiating table it’s not the person you’re dealing with, rather the brand; The Donald. Lesson - Here it’s really important to build rapport and common ground, get to a point where you can make them human, see behind the brand, where they cannot maintain the façade, and hopefully after that you can start to deal as people. Comments are closed.
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AuthorRichard Marshall is an Accredited Civil and Commercial Mediator with over 25 years experience as a Litigation Solicitor, as well as being a qualified Solicitor-Advocate. He is the founder of Striving to Settle, through which he works as a mediator and provides negotiation training. www.strivingtosettle.co.uk Archives
August 2022
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