The Elements of Negotiation

Comprehensive guide to mastering negotiation, based on 24 years of research

The Elements of Negotiation provides readers with an easy-to-follow step-by-step approach to becoming exceptional negotiators in both their professional and personal lives. Grounded in 24 years of extensive research, studying the habits and techniques of 35,000 individual negotiators, the 103 steps provide a detailed roadmap for negotiation excellence, covering preparation, execution, and post-negotiation analysis.

Backed by tested science proving the tips' efficacy, The Elements of Negotiation explores a wealth of real-world case studies and examples, with trends and predictions into the future of negotiation, and additional resources and training programs to further improve your negotiation skills. In this book, you'll learn:

• How to prepare for negotiations to achieve superior financial outcomes
• What to say—and not say—during any negotiation, big or small
• How successful negotiators achieve positive outcomes for both parties
• Why successful negotiators are usually successful in both their personal and professional lives

With its research-backed approach and the expertise of Keld Jensen, an international authority on negotiation with countless accolades and clients like the Financial Times, Target, Government of Canada, and UCLA, The Elements of Negotiation is an invaluable resource for anyone looking to elevate their negotiation skills.

Introduction xvii

Chapter 1 Nonverbal 1

Chapter 1: Introduction 1

Element 1: Body Language 3

Element 2: Eye Contact 7

Element 3: Gesticulations 8

Element 4: The Role of Voice 10

Element 5: Humor 12

Element 6: Use of Feet 16

Element 7: Image 17

Chapter 2 Knowledge 21

Chapter 2: Introduction 21

Element 8: The Crucial Role of Mathematics 25

Element 9: Negotiating in a Foreign Language 26

Element 10: The Journey of Learning 33

Element 11: Education 35

Element 12: Negotiation Training 37

Element 13: Asymmetric Value 39

Element 14: Subject Matter 43

Element 15: Leveraging AI to Enhance Your Negotiation Skills 44

Chapter 3 Tools 47

Chapter 3: Introduction 47

Element 16: Negotiation Strategy 49

Element 17: Rules of the Game 52

Element 18: Questions 54

Element 19: Openness 60

Element 20: The Hidden Value: NegoEconomics 62

Element 21: Tru$tCurrency 65

Element 22: Strategy Access Matrix (SAM) Model 67

Element 23: Threats 69

Element 24: Activating Several Senses 70

Element 25: Using an Agenda 75

Element 26: Planned Target 77

Element 27: Walking Away 78

Element 28: Team Dynamics 79

Element 29: Division of Roles on the Team 81

Element 30: The Trial Balloon and Highball/Lowball Techniques 83

Element 31: Starting Point, Threshold of Pain, and Target 85

Element 32: Variables 86

Element 33: The Art of Managing Non-Negotiables 89

Element 34: Cross-Cultural Negotiations 91

Element 35: Emotions, Stress, and Personal Chemistry 93

Element 36: Prioritizing Variables: The Key to NegoEconomics 105

Element 37: Listening Skills 107

Element 38: Understanding and Navigating Salami Negotiations 110

Element 39: Mastering Package Negotiation: A Holistic Approach 113

Element 40: Total Cost of Ownership 115

Element 41: Confirming a Mandate 117

Element 42: The Double- Edged Sword of Ultimatums 118

Element 43: Time Out: Embracing Preparation and Patience 120

Element 44: Checklists 122

Element 45: Closing the Deal: Strategies for Effective Negotiation Conclusions 128

Element 46: Working with Summaries 131

Element 47: Anchoring in Negotiation 135

Element 48: Postmortems: Navigating the Aftermath 137

Element 49: Creating a Negotiation Planner 139

Element 50: The Next Best Alternative in Negotiations 142

Element 51: Testing Limits with Respect 145

Chapter 4 Tactics 147

Chapter 4: Introduction 147

Element 52: The Combative Negotiator 149

Element 53: The Concession- Oriented Negotiator 155

Element 54: Compromise in Negotiation: The Delicate Art of Balancing Interests 157

Element 55: Stalling 161

Element 56: The Collaborative Negotiator 164

Chapter 5 Emotions 167

Chapter 5: Introduction 167

Element 57: Argumentations 169

Element 58: Building Rapport with Your Counterpart 172

Element 59: Small Talk 175

Element 60: Positive and Negative Emotions 176

Element 61: Maintaining Emotional Control 179

Element 62: Cheating, Bluffing, and Little White Lies 181

Element 63: Perseverance 183

Element 64: Pacing, Rapport, and Lead 185

Element 65: Likeability in Negotiations: Insights from Research 192

Element 66: Personal Chemistry 194

Element 67: Emotional Intelligence: The Foundation for Effective Negotiation 196

Element 68: Decision- Making and Emotional Biases in Negotiations 199

Chapter 6 Things to Consider 201

Chapter 6: Introduction 201

Element 69: Implementing NegoEconomics 203

Element 70: The Role of Mediators/Facilitators 208

Element 71: The Big Picture 210

Element 72: Typical Skills to Improve 215

Element 73: Navigating the Cosmos of Negotiation: Lessons from John Glenn’s Insight 217

Element 74: Addressing Misunderstandings 219

Element 75: The Total Cost of Ownership (TCO) 221

Element 76: Listening, Summarizing, and Locking (LSL) 224

Element 77: Contingent Contracts 225

Element 78: Post- Negotiation Audit 227

Element 79: Face- to- Face or Virtual Negotiations 229

Element 80: Ability to Anticipate 234

Element 81: Soft vs. Hard Variables 235

Chapter 7 Ultimate Level 237

Chapter 7: Introduction 237

Element 82: The Essence of Negotiation Mastery 239

Element 83: Using Silence Effectively 241

Element 84: Teaching Others 244

Element 85: Expanding the Pie 246

Element 86: Subtext Awareness 248

Element 87: Human Engineering 252

Element 88: Mastering Conflict Resolution Skills 254

Chapter 8 The Foundation 257

Chapter 8: Introduction 257

Element 89: The Love of Negotiation 259

Element 90: Building Trust 260

Element 91: Unleashing Creativity 264

Element 92: Conveying Empathy 266

Element 93: Practicing 269

Element 94: The Nuances of Argumentation 271

Element 95: Adaptability 273

Element 96: Ethical Negotiations 275

Element 97: Choosing a Strategy 278

Element 98: Brainstorming 282

Element 99: Considering Gender 284

Element 100: Making Sure You Get Something in Return 286

Element 101: The Power of Habit 288

Element 102: Reflection: Essential Skills and Behaviors for Becoming an Accomplished Negotiator 289

Element 103: The Choice to Negotiate: Challenging the Obvious 291

Acknowledgments 293

About the Author 295

Index 297

KELD JENSEN is a globally recognized expert in negotiation, trust, and communication. With 26 published books and a readership of over 3 million, Jensen’s insights have shaped the negotiation strategies of countless professionals worldwide. He is a Top Negotiation Voice on LinkedIn, an associated professor at several international universities, on the top 5 Global Gurus negotiation list, and appeared in more than 200 television programs. Keld’s extensive and impressive client list includes Rolls-Royce, PG&E, Microsoft, IKEA, UCLA, DLA Piper, LEGO, UNICEF, several governments, Novo Nordisk, and others.

What do successful negotiators do? How do they prepare? What do they say—and not say? The Elements of Negotiation answers all of these questions and many more, providing a detailed roadmap for negotiation excellence—including preparation, execution, and post-negotiation analysis.

This book is grounded in Keld Jensen’s 26 years of extensive research, studying the habits and techniques of 35,000 individual negotiators that he has trained personally. Through his research, he has isolated 103 separate elements of negotiation success. The more of these elements you employ, and the more effectively you apply each one, the better your results at the negotiating table, and the greater negotiator you become.

Each step contains a point-by-point breakdown, enabling readers to fully grasp and implement the step into their own personal and professional negotiations. This book also covers the finer details of negotiations, such as how expert negotiators achieve outstanding outcomes for both their side and their counterparts, and why successful negotiators tend to be successful not just in business, but in their daily lives as well.

No matter who you are, what industry you’re in, or what you’re trying to accomplish in your negotiations, The Elements of Negotiation has all of the essential information you need to succeed. This book is a definitive guide in the field of negotiation, backed by proven principles and thousands of standout success stories.

The Elements of Negotiation earns a well-deserved spot on the bookshelves of business professionals involved in negotiations, such as salespeople, procurement officers, and leaders, individuals interested in enhancing their negotiation skills for personal or professional growth, and students and academicians studying negotiation, behavioral economics, and communication.

Ready to transform your negotiation skills?

Praise for THE ELEMENTS OF NEGOTIATION

“In negotiation, Roger Fisher pioneered for almost half a century, Chris Voss influenced the last decade. Keld Jensen represents the forefront of modern-day negotiation strategies and expertise. Today there is no comparison.”
— Tarek Amine, Principal, Vice President, and Chief Supply Chain Officer at Bechtel Global Corporation

“Unlock the mysteries of negotiation with Keld Jensen’s comprehensive guide. From dissecting every element to outlining winning tactics, this book offers clear steps for mastering the journey toward conscious competence and avoiding common pitfalls. Gain confidence and expertise in the art of negotiation.”
— Mark Bowden, bestselling author on human behavior and advisor to G7 leaders

“The Elements of Negotiation is a great read that offers practical advice, powerful insights, and thoughtful reflection about how to be successful in negotiations. I thoroughly recommend this book for all the negotiators out there...both experienced and inexperienced practitioners!”
— Dr. Clive Rees, PhD in Commercial Relationships; Vice President, International Chief Procurement Officer, and Executive Director of Global Supply Chain Unit at Fujitsu

“ If you thought negotiation was all about power suits and stern faces, think again. Keld Jensen brings together his ‘103 Elements of a Negotiation’ to life in a book that is rejuvenating the fun in negotiations. It’s packed with clever tactics and insights that will have you thinking differently in a negotiation—and maybe even enjoying the process. These elements are valuable to all industries and experiences.”
—Jim Daly, Head of North America Deal Pursuit at Google”

“In negotiation, Roger Fisher pioneered for almost half a century, Chris Voss influenced the last decade. Keld Jensen represents the forefront of modern-day negotiation strategies and expertise. Today there is no comparison.”
— Tarek Amine, Principal, Vice President, and Chief Supply Chain Officer at Bechtel Global Corporation

“Unlock the mysteries of negotiation with Keld Jensen’s comprehensive guide. From dissecting every element to outlining winning tactics, this book offers clear steps for mastering the journey toward conscious competence and avoiding common pitfalls. Gain confidence and expertise in the art of negotiation.”
— Mark Bowden, bestselling author on human behavior and advisor to G7 leaders

“The Elements of Negotiation is a great read that offers practical advice, powerful insights, and thoughtful reflection about how to be successful in negotiations. I thoroughly recommend this book for all the negotiators out there...both experienced and inexperienced practitioners!”
— Dr. Clive Rees, PhD in Commercial Relationships; Vice President, International Chief Procurement Officer, and Executive Director of Global Supply Chain Unit at Fujitsu

“ If you thought negotiation was all about power suits and stern faces, think again. Keld Jensen brings together his ‘103 Elements of a Negotiation’ to life in a book that is rejuvenating the fun in negotiations. It’s packed with clever tactics and insights that will have you thinking differently in a negotiation—and maybe even enjoying the process. These elements are valuable to all industries and experiences.”
—Jim Daly, Head of North America Deal Pursuit at Google”