Chris Voss - How to negotiate your best deals

in any interaction there's a favorite and a fool you and if you don't know who the fool in the game is then it's you all right but what does that mean if you're the favorite you should never cut your price so the favorite is the one that's expected to win or you know maybe it's you know people want to go with it's the yeah the top top person if you look at and if you look at the way human beings make decisions you know do not underestimate the favor of the fool because 20 of the time at least you're the poor okay which also means you got no business cutting your price right the only thing that you're there for is to give them a lower price for them to try to drive it down on the favor so you're the rap some people call that the rabbit the rabbit is you know you're gonna run but you ain't gonna win okay it was already a wig rigged game now how do i find out if i'm the favorite of the fool i ask you why me right now if i'm the favorite you're going to tell me that that's a surgical psychological strike and it's gonna get me one of two answers all along either you'll tell me why i'm the favorite or you'll immediately throw it back on me well that's up to you i don't know tell me since it's a psychological surgical strike when you throw it back on me i'm the fool again why am i cutting my price if i'm the fool i'm not gonna do that so i i gotta i gotta throw a diagnostic in the conversation to find out whether or not i'm the favor of the fool now if i'm the favorite you could be distracted over price because there are lower prices but if you wanted them you'd be talking to them i mean we were just sitting back you know chopping it up reminiscing about the good old days and all that you know hi i'm chris voss author of never split the difference negotiating is if your life depended on it and you're watching behind the brand with brian elliott a lot of our audience wherever they are in their career path is always trying to figure out how do i find my passion you know there might be things that i'm interested in maybe even several things that i'm good at but like unless you're passionate about that right like you could be fantastic at accounting but it's like you know put you to sleep and that's not something you want to do for the rest of your life um what is your advice about finding your passion how did you how did you do that yeah be willing to go off into left field there's different descriptions of it i wish i could think of one of the harvard professors at the in the business school and i can't think of his name while i can think of this speech he is as happy as can be he gave a speech to the graduating class of the business school by invitation and he talked about he quit his way to happiness i mean he did stuff and he was good at he was successful at and when he realized it wasn't for him i mean he walked away and and he put his way into happiness now i'm i i would put i my verbiage would be different i don't believe in being a quitter but there are some times when yeah i've stayed in stuff too long and the biggest lesson to me was i stayed there too long i was willing to pursue stuff that sounded like fun it sounds like fun i'm highly adventurous highly spontaneous then i'd go running off after it and i took one left turn after another until i ended up as a hostage negotiator and that ended up being like the best thing for me for me and what was it about the negotiation that was so fulfilling well um you know the training you're at the fbi academy you're immediately introduced to an international fraternity not quite a secret society but nobody really knows there of hostage negotiators globally that save people's lives and that's that's kind of overwhelming at the time and you go through the training and and you're around people who've you know yeah they say say save lives on a regular basis i mean that's what they do for a living is save people's lives right and you're like holy cow and then i was lucky enough fortunately to be involved in a situation shortly after i was trained about a year and a little over a year and a half after i was trained when i negotiated a bank robbery with hostages i've been working on my craft for a while as you're saying you don't rise to the occasion you fall to your highest level of preparation i was highly prepared and the the idea of using words to talk somebody out get them give them to give themselves up to us with words once experienced it you know that's an addiction you know that's an adrenaline hit that's a flow head that once being bitten by that you can never go back i would love to break that down a little learn a little bit more i i've watched and read the books you know i i sort of feel like i know the vos way but for those who are new to you talk about some of those techniques and then maybe give us some practical application because i i understand that you're doing quite a bit of consulting uh you know in the public sector you know private sector private sector yeah private sector and you know helping out whether that's the c-suite or managers or just people navigate better business better lives break that down a little bit for us yeah and that's a really cool thing about what we're doing now because as a hostage negotiator with saving literally saving lives you know as a business negotiation coach and consultant we're changing lives we're helping people weekly we hear from one of our clients this deal will change my life you know they're going to live in a bigger house they're going to they're going to give their kids a better life they're going to give their kids a better education i mean all the reasons for succeeding and also the way that that's spoken nobody on our team brags about deals where people were hurt right you know and that's a critical issue you know you don't you want to be a great negotiator you want to be oprah you don't hurt people you know you you make spectacular things happen without leaving a wake of resentment so that's what we're doing these days well so i mean i i sort of already know the answer to this question but i'd love for you to weigh in on it there's a i can think of mark cuban who wrote a book you know businesses sport and a big part of that book was you gotta dominate you gotta win win at all costs it's the philosophy of some leaders i can think about who are currently in office um who just leave you know wasteland of people that they've steamrolled or whatever why is that bad uh or how is it good can you help i put some i put some interpretation on that too cuban's talking about when it all costs he's talking about beating his competitors not his colleagues i happen to be uh i bet i was an advisor to a company that he invested heavily in i'm an advisor in another company that he's investing in he's about the team game i mean he's not destroying the people that are doing business with him if if he you know if that kind of attitude i mean the players that play for him on a mavericks he doesn't have the lowest payroll in the league he pays his people he compete now he wants his people to bring their game you you got to bring your a game if you don't have an a game he's not particularly interested in doing business with you so his highly competitive nature this winning that i you know and i haven't had his direct conversation with him you know we have one person that's very close to both of us but i don't talk to him um so i'm interpreting you know his competitiveness is outperforming his competitors not bleeding his business associates i mean you make a deal with walmart walmart is that is not a deal that's gonna make be profitable for you walmart is famous for putting their suppliers out of business cuban doesn't put his business partners out of business he makes them wealthy and that's that those are two those are two different things you want to perform at a very high level i i want us to crush our competition by outperforming them and our emphasis is on and no one will ever touch my company because we learn every day i mean try and keep up with us just try i think it's an important distinction i'm glad that you clarified that i'd like to talk about it more um maybe you know when we start down this road of having our own business uh it's tempting you know maybe it's it's a gift or it's an opportunity that's been handed to us to put the competition or even our partners out of business but like help us understand some of these best practices how do we win without burning bridges ruining relationships how do we make it that classic i don't think i'm even kind of afraid to say win-win because i don't know if that's correct terminology these days help us understand what we should be doing yeah well like if you and i were negotiating my goal would be how do you and i work together so that together we come up with a better deal than either one of us imagined right you're going to feel very you're going to feel very involved in the process and you're not going to feel like i'm against you because i'm not i mean if i'm negotiating with someone we're faced with different aspects of the same problem and we will get farther together than we will tripping each other or cutting the legs out from each other you know so by definition i've got to look out for you in order to get to the best deal i can possibly get now that's a hard distinction to make because so much negotiation out there is very much taught at the expense of someone else or the uninitiated like when uh i was teaching negotiation in business schools before the book came out i'd be at a cocktail party and somebody find out that i taught negotiation and they go let me tell you about this deep i had them over a barrel there was nothing i could they could do i mean i had them over barrel now the problem with that was they left an enemy in their wake and the thing that always happens is everybody that says that that deal happened five years ago and they're five to ten years between deals that are bragworthy yeah that's not a repeat client no it's not a repeat client but and you can't sustain you can't sustain a professional career making a great deal once every five years when you turn it into a collaborative process again the people that we're coaching they're making great deals every month if not every week let alone every five years and so the velocity of deals is a critical issue that a lot of people want to ignore donald trump the velocity of his great deals he's got some spectacular deals they are years in between i mean he worked magic when he rebuilt the woman skating rink in new york city back in the early 1980s even it might have been a late 70s he renovated grand central station in a way that nobody else had done he put up trump towers spectacular building and then then the deal started getting a little bit farther and farther apart farther and farther apart until finally you know his last endeavor the west side railroad yards in manhattan he never built anything there he held on to that for 30 years couldn't put up couldn't put up an outhouse because he had generated so much opposition in the compute community finally sold his equity and and it's a spectacular real estate investment a real estate development today one of the most beautiful in manhattan once he was out yeah i think it's important to say and the specifics of who did it is not what's important but also the fact that when he did it like the timing of when he did it like new york was in shambles crime rampant government somewhat unstable and not super you know strong and he swooped down saw an opportunity and took it and was able to get all that property basically you know tax deferred you know he got all kinds of uh help from the city of course with leverage from other friends let's call them um so timing had a big part of that as well but yeah you're right point well taken um if you're wrong serendipity we're all looking for that when the universe is smiling on us do we execute right well like i said you know you can throw the hail mary pass people can't catch it you could win games it's not a great strategy for you know an ongoing out of your playbook not many games yeah there's there's a hail mary every few years right yeah i mean we were just sitting back you know chopping it up reminiscing about the good old days and all that you know tracking my roots where i came from where i'm going [Music] it's all about the journey [Music] your dreams in the past ain't nowhere near you backseat drivers got nothing but two cents shotgun riders two buyers they all liars i should get an a for f and i'm too tired but i'm never giving up that's why i'm kind of in mine role model like it or not i gotta play it sugar coat the rhymes sometimes but still say it said i was quitting at 40 is just a fib i'm still a kid that's wiping the food off

Channel: Behind the Brand

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Keywords: Bryan Elliott, Behind the Brand, entrepreneur, chris voss, chris voss negotiation, chris voss masterclass, chris voss never split the difference, chris voss mirroring, chris voss ted talk, chris voss 60 seconds or she dies, chris voss tactical empathy, chris voss salary negotiation, chris voss negotiation example, chris voss labeling, chris voss audiobook, Chris Voss Behind the Brand

Id: 7_VpQawHawo

Length: 15min 0sec (900 seconds)

Published: Mon Oct 26 2020