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The Art of Charm

Victoria Medvec | Master Negotiation By Avoiding These 3 Traps

The Art of Charm

http://www.TheArtOfCharm.com

Health & Fitness, Education, Business

4.711K Ratings

🗓️ 23 August 2021

⏱️ 62 minutes

🧾️ Download transcript

Summary

In today’s episode, we cover negotiation with Dr. Victoria Medvec. Dr. Medvec a master negotiator, Kellogg professor, CEO of Medvec & Associates, and is the author of Negotiate Without Fear: Strategies and Tools to Maximize Your Outcomes. Negotiating is a part of life, personally and professionally, so how should we be looking at it, how can we remove the fear and anxiety from negotiating, and what strategies can you implement from a professional negotiator to take your negotiating skills to the next level? What to Listen For Dr. Victoria Medvec’s origin story – 1:35 What do great negotiators enjoy about the act of negotiating? What are the biggest fears people have about negotiating that prevent them from getting what they deserve and what can you do to overcome those fears? What is the most important element of effective negotiation and how can you use it to overcome your fears of negotiating? Creating win-win negotiation outcomes – 12:59 How can you think about future negotiations in a way that makes both parties excited about the outcome? What questions can you ask in a negotiation to get a better understanding of what the other party is looking to get out of the negotiation? What does it mean to prepare for a negotiation and how can you show the other party during the negotiation that you’ve put in the work ahead of time? Common traps many expert negotiators fall into – 23:07 What are the 3 most common traps experienced negotiators fall into and what can you do to avoid falling into those traps? How do you bring creativity into negotiating to ensure both parties walk away from the negotiation with a win? Why are emotion and storytelling important in the art of negotiation? Managing emotions during negotiations – 37:00 What 4 steps can you take to manage the emotions during negotiations to prevent them from ruining a deal and making you and/or your company look bad? How do you effectively negotiate your salary to get what you deserve while also giving the company a positive outcome? How do different generations view negotiation and why is it important? What are We typically associate the word “negotiation” with negotiating a raise or negotiating the price of a car, but in reality just about anything can be negotiated. Unfortunately, many of us never try to negotiate because negotiating seems intimidating, or we just assume the price or cost of something is set in stone. If you want to get what you deserve out of life, no one is going to give it to you, you must be willing to know your worth and ask for it. A Word From Our Sponsors Share your vulnerabilities, victories, and questions in our 13,000-member private Facebook group at theartofcharm.com/challenge. This is a unique opportunity where everyone — both men and women — celebrate your accountability on the way to becoming the best version of yourself. Register today here! Resources from this Episode Negotiate Without Fear by Victoria Medvec Medvec & Associates: Critical Decision and Negotiation Partners website Check in with AJ and Johnny! AJ on Instagram Johnny on Instagram The Art of Charm on Instagram The Art of Charm on YouTube Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome back to the Articharm podcast, a show designed to help you communicate with power and become unstoppable on your path from hidden genius to influential leader.

0:10.5

We know you have what it takes to reach your full potential in each and every week we share with you interviews and strategies to help you transform your life by helping you unlock your ex-factor, whether you're in sales, leadership, medicine, building client relationships, or looking for love.

0:27.0

We've got what you need. You shouldn't have to settle for anything less than extraordinary. I'm AJ and I'm Johnny. Now thank you everyone for tuning in. Let's kick off today's show today. We're speaking with Dr. Vicki Medvek. Dr. Medvek is the author of negotiate without fear strategies and tools to maximize your outcomes, which came out a few weeks ago. She's a master negotiator, Kellogg professor and the CEO of Medvek and Associates, a consulting firm focused on

0:57.0

high stakes negotiations and strategic decisions. We're going to talk with her today about eliminating the fear that impedes success in negotiations and the negotiation strategies that she has honed over decades advising Fortune 500 clients. And don't worry, we're even going to break down how you can negotiate your next salary raise. Welcome to the show, Vicki. So happy you're here, joining us talking about how to be less fearful when it comes to negotiating.

1:25.0

Thank you so much for having me, AJ. I'm very excited to be with you today. Now Johnny and I would love to know a little bit of your origin story and what drew you to negotiation.

1:36.0

You know, it's funny when I first graduated from college, I had a position at United Way of America. I was selected as one of 10 people, 10 graduating seniors who would work with the national, the international United Way for one year and then work in a local United Way chapter. And when I was doing that, I found that my passion was for the fundraising side of the United Way.

2:03.0

And I recognized I was really enjoying negotiation. So after fulfilling my duty of working for a full year for a local United Way after my year with the international, I was recruited by a president of the university to lead fundraising for one of his colleges.

2:22.0

And I started there doing a lot of fundraising, a lot of negotiation. And that's what really sparked my interest in going back and studying that as I got my PhD doing research in it. And then ultimately teaching it and advising many companies and organizations on very high stakes deals.

2:41.0

Are there anything that you can point to in negotiation that stick out to you that you really enjoy because when most people think about negotiation, we'll get to this. All of a sudden they get a pit in their stomach, they start to get nauseous, they don't want to deal with it. And we always hear much like cells.

2:59.0

You know, there's always these people like I don't like cells people. They're always too pushy. That's why I'm not a cells guy. And then there's the same thing with negotiation. I don't like negotiation. Everyone on the other side's a big jerk. And then it's always comes down to the same thing, which is cells and negotiation is going to be an integral part of your life.

3:20.0

If you have a mission, if you have reach in your life, because you're looking to acquire things, you're looking to achieve things. And so you have to get out there and make things happen. And in order to make things happen, you have to deal with other people. So either you're selling your ideas or you're negotiating to enable and to get your ideas in the play.

3:39.0

I couldn't agree more, Johnny. And in fact, I would argue that that pit in your stomach that you feel that is the fear that I tackle in my new book, Negotiate Without Fear. I want to take the fear out of negotiations and allow people to negotiate in more confident and comfortable ways.

3:57.0

Because I would absolutely agree with you that negotiation is critical to so many parts of our life. And I actually believe that when you can embolden yourself and empower yourself to be able to negotiate, you actually create a much more satisfied life.

4:14.0

Because I think a lot of times we're dissatisfied with situations. We don't like what's happening. We don't like how we retreat. We don't like what someone is doing.

4:23.0

And if we recognize that we can change that through our negotiation capabilities, we feel more empowered and more satisfied. So I agree with you that getting the fear out of negotiation is critical to leading to satisfaction.

4:38.0

And I believe there's no worse feeling than being taken advantage of because you don't know how to negotiate.

4:44.0

We've all kicked ourselves for paying too much for something, for not negotiating our salary and then finding out a coworker or a peer who's less talented than us is making more money simply because they asked for it.

4:57.0

So we love looking at fear and overcoming fear and changing our attitude, gaining knowledge. And of course the last piece is gaining experience.

5:05.0

I want to tackle the first one that mindset and the attitude going into negotiation because that lays the groundwork for how it is going to go in that room.

5:15.0

And I think one of the biggest fears is being taken advantage of. I think another fear is I'm afraid the other side will walk away. I'm afraid all damage the relationship.

5:25.0

I'm afraid that I will get a bad deal. I think there are so many fears that impede our ability to negotiate in confident ways. And that's where we want to give you strategy to help you to be able to take that fear out of negotiation and be able to appropriately go into that situation in a really confident way.

5:45.0

And when it comes to attitude and we talk a lot about this when it comes to socializing, what you think about before you enter that room comes into play when you're actually in communication with someone.

...

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