Put Your Foot Down

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Del curso dictado por Yale University

Introduction to Negotiation: A Strategic Playbook for Becoming a Principled and Persuasive Negotiator

1496 calificaciones

Yale University

Introduction to Negotiation: A Strategic Playbook for Becoming a Principled and Persuasive Negotiator

1496 calificaciones

This course will help you be a better negotiator. Unlike many negotiation courses, we develop a framework for analyzing and shaping negotiations. This framework will allow you to make principled arguments that persuade others. It will allow you to see beneath the surface of apparent conflicts to uncover the underlying interests. You will leave the course better able to predict, interpret, and shape the behavior of those you face in competitive situations. In this course, you will have several opportunities to negotiate with other students using case studies based on common situations in business and in life. You can get feedback on your performance and compare what you did to how others approached the same scenario. The cases also provide a setting to discuss a wide-ranging set of topics including preparing for a negotiation, making ultimatums, avoiding regret, expanding the pie, and dealing with someone who has a very different perspective on the world. Advanced topics include negotiating when you have no power, negotiating over email, and the role of gender differences in negotiation. To close out the course, we will hear insights from three negotiation experts: Linda Babcock, Herb Cohen, and John McCall MacBain. Enjoy.

De la lección

John McCall MacBain: The Consummate Dealmaker

In 1987, John purchased a classified advertising magazine in Montreal called Auto Hebdo, the first of what would become a worldwide portfolio of Auto Trader, Buy and Sell and other classified ad papers. Over the next twenty years, he purchased some 500 papers and websites literally all around the world -- China, Russia, Poland, Australia, Columbia, Sweden, Hungary, Italy, Canada, Argentina, Brazil. He sold the business, bought it back, took it public, and then ultimately maximized shareholder value by selling off the whole business in five pieces. He is now a philanthropist focused on education. I've known John for 35 years, ever since we were classmates at Oxford. And I had a front row seat to his dealmaking as I served on the board of his company, Trader Classified Media. His papers were all about buying and selling, but when it comes to buying and selling, there's no one better. He exemplifies principled negotiation. You are in for a special treat.

Taking Items Off the Table5:20

Have the Champagne Ready2:50

Negotiating in Good Faith2:59

Put Your Foot Down4:39

Conoce a los instructores

Barry Nalebuff
Milton Steinbach Professor
Yale School of Management

Now John, I understand that you have some, maybe I'll call them tactics,

that might be helpful in terms of sharing.

>> Sure, Barry.

I mean, I hope they're not tactics or style points, but

they're interesting points.

I get personally involved in the deal and I try to bring the other principle, or

counter party, personally involved in the deal.

And It goes back to my getting the fairness principle,

getting the, you wanna be a good person, bad person scenario, and

trying to bring the other party towards a good person.

One of the examples was a journalist in Poland.

We were buying out the balance of the equity in a business in Poland,

which was owned by Lance's group and he wasn't in the room.

But the journalist who was the moral force in the room was there and

he kept delaying things and he was wearing glasses.

And as a joke I put his glass on the floor with my foot in above them and

I said look, let's get this done.

I'll do the typing, cuz you can't now see the computer to type on the term sheet,

and let me just put my foot here so you just listen, we'll get these things done.

That was a sort of funny one.

The second one was.

>> Let me just get this straight again, what did you do with his glasses?

>> I put them underneath my foot.

So. >> Yep.

>> So, he couldn't use the computer and

we would, cuz he was avoiding getting things decided.

He was avoiding getting into my syndrome of the term sheets.

So I knew them, I typed the term sheet out.

I could type it and he would stand beside me.

And wouldn't be able to type because I had his glasses.

And he accepted that cuz he realized it put a point

on the fact that he wasn't dearly dealing in good faith.

And it just emphasized it.

The second one.

>> Whoa, whoa, but so he's not getting mad at you because you're threatening to.

>> No! >> Crush his glasses and make him blind?

>> He was in this point where he knew he was in the wrong such

that my outrageous thing just hit him and he was able to accept it.

It was also taking the power in the negotiation.

You know when you can get away with it.

And that worked.

The second point >> So

I'm glad you can't touch my glasses cuz you're on video.

>> That's why you wanted this deal on Skype.

>> Exactly.

>> But the other one was in Hungary, we had been, Hungarian government put

an offer for 38 newspapers, of which one was in our sector.

And we wrote this long agreement,

which is exactly what they wanted, but at the end we put P.S.,

we'll pay the same price, no conditions for just the one paper, not the other 37.

And it was put in the Financial Times our bid went through and

they stopped the bidding.

And they said this is unbelievable.

You can get the same price for one.

And so they stopped the bidding on the other 37 papers,

which was exactly what we wanted.

And what we did was we said, we'll discuss with you exclusively just in

this one paper and then you can deal with the others.

They said we agree, but then they started delaying and delaying, so I had

the administer of privatization in the office and we were in a conference room.

So I asked the person in the conference room, can I have the key?

And I actually locked the conference room door,

put the key in my pocket said look, this is going on too long.

Let's sit down and none of us leave until we get this done.

Now some people could say, gee you're almost kidnapping him.

But again it was putting in the forefront in a very gross

or open way, what we was doing, which was delaying, trying to get out.

And it made him realize that.

He accepted that.

He had a little grumbling.

>> He gave you, he gave you the key?

So somebody else had the key.

>> I locked it and put it in my pocket.

At first, what are you doing?

I said, look, you said you wanted to get this done.

Why are you avoiding staying in the room?

And he said okay.

And we actually closed the deal that day.

My partner >> Had he known ahead of time not

to drink any water?

>> At the time, my partner Eric had been to Poland for

one year 48 times to get this deal done from Paris.

He was based in Paris, and then we knew that, yes,

he could've got angry on the principle of that, but

he realized the principle is just the example of what he was doing.

And he either had to say I want the key back, I don't want.

But taking the key back, it was symbolic of him walking out on the deal.

And he realized he was there, and having the principal there who can sign.

We try to always do of the principal.

So that was one.

Other style points is, we have done a lot of deals

that were not real estate deals, they're not one off.

They're with people who will talk to other people.

So it's very important in our deals, no matter how the deal comes out,

when you close is that there's friendship between the parties.

Because, remember, I did over 100 deals in classified advertising, and

I'd say groups of 20 to 30 knew each other.

So if I made one deal where somebody's very unhappy with me, tried to take

advantage, we're seen as not fair then we knew we'd lose all those future deals.

So each deal was building on fairness.

Whether you got a good deal, was how the other party perceived what your realm of

fairness was and how they agreed upon it.

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