Effective Negotiations Part 2

Jim Schleckser is the Chief Executive Officer of The CEO Project, a business advisory group for accomplished CEOs to help them solve their most challenging issues, resolve constraints, drive growth, and improve outcomes.

With 30 years of leadership experience in business strategy, organizational development, sales, marketing, and more, Jim leads global organizations across many functional areas in both public and private environments. He specializes in solving issues that fast-growing firms experience in their business models and processes as they reach high-performance levels. Jim has appeared in The New York Times, The Huffington Post, and National Public Radio.

Business negotiations are a lengthy and often arduous process with many characteristics and techniques to hone. So, how can you navigate these deals to reach an effective solution?

According to Jim Schleckser, the fear of loss is greater than the desire for gain. When conducting a deal with another businessperson, it's necessary to leverage their risk aversion to expedite the process. By identifying your adversary's greatest fear and offering them a guaranteed solution, you can utilize time value of money to secure a favorable outcome.

In today's episode of The Lazy CEO Podcast, Jim Schleckser discusses techniques for effective negotiations. He explains how to identify an adversary's needs, how to negotiate price to reach an advantageous solution, and the importance of expressing gratitude at the conclusion of a negotiation.