Mastering Negotiation: Joint Ventures, UN Resolutions, and Reputation in Negotiations
Negotiator creates successful joint venture, explores challenging negotiation process behind UN resolution 242, and emphasizes the importance of reputation in negotiations.
00:00:00 Negotiator offers owner autonomy, recognition, and control as president of a joint venture instead of being an employee. A successful chain is created.
🔑 The owner of the restaurant was hesitant to sell because he enjoyed the control and recognition of being the owner.
💡 The negotiator proposed a joint venture where the owner would maintain autonomy and become the president of the company.
💰 As an incentive to stay, the owner would retain 20% of the stock and receive more payment the longer they stayed.
00:01:26 The power of building the other side of Golden Bridge and reaching a mutually satisfying agreement through negotiation, without deception or manipulation.
🔑 Building a mutually satisfying agreement through negotiation.
🙌 Ethics and honesty are valued in negotiation.
📚 Story of Ambassador Keratin and the importance of reputation.
00:02:53 A look at the challenging negotiation process behind UN resolution 242 in the aftermath of the 1967 Middle East war.
UN resolution 242 was created to resolve the conflict in the Middle East after the 1967 war.
Ambassador Caron faced the challenge of bringing all parties together and overcoming the Soviet Union's resistance.
Despite pressure to postpone the vote, Caron decided to bring the resolution to a vote.
00:04:18 Ambassador Kuznetsov requests a personal favor from Ambassador Kerrigan to postpone a vote. Kerrigan, recognizing Kuznetsov's reputation, grants the favor. Two weeks later, Kuznetsov votes in favor of the resolution.
🗳️ Despite the pressure, Ambassador Kerrigan grants Ambassador Kuznetsov's personal favor and postpones the vote by two weeks.
🤝 Ambassador Kuznetsov's personal reputation influences Kerrigan's decision to grant him the favor.
✅ After two weeks, every country votes in favor of UN resolution 242, including the USSR.
00:05:47 The importance of reputation in negotiations. A good reputation leads to credibility and better chances for mutual gain. Deception gains short-term advantage, but reputation is the most valuable asset in negotiations.
⭐ Having a reputation for honesty and fair dealing is crucial in negotiations.
🤝 A good reputation allows for better communication and collaboration with the other party.
💼 A strong reputation is an invaluable asset for long-term success in negotiations.
00:07:11 Learn how to negotiate effectively by becoming a reflective negotiator. Focus on the process, not just the outcome, to improve your results.
✅ The key to effective negotiation is becoming a reflective negotiator.
🏊♀️ Most people spend too much attention on the outcome, rather than the process of negotiation.
🤝 Negotiating with honesty and fairness produces the best results.
00:08:36 Learn seven principles for successful negotiations and how to apply them with profit and satisfaction.
✨ Focus on the process of developing good alternatives and continually improving negotiations.
🏆 Apply the seven principles of negotiation to become champions in the negotiation Olympics.
🌟 Wish the audience success and encouragement to strive for the best in negotiations.
Want to deep dive into this video?
