coverLibrarians should read this. especially those who have to review and negotiate for database subscriptions and licenses — getting the best deals.

This book is relevant to anyone who negotiates — and as the author suggests, everyone engages in negotiations, e.g. as a couple, as a employee.

George Ross can tell a story. His lectures must be quite dynamic. Plenty of believable examples. It makes a good read.

It’s not so much about negotiating for trump or really trump-style. I’d say it’s George H. Ross’ negotiation power. But the name “Donald Trump” is a more catchy name 🙂 If it’s not the negotiation insights and strategies, you might also want to read this book for the powerplays and high-stakes wheeling and dealings of the New York Property tycoons in the 80s/ 90s. Insider news to how he handled cases for clients like Donald Trump & Sol Goldman.

P132. applies to staff performance reviews too. “There is a human tendency not to prepare for negotiation”. Some pointers:
– What are you planning to say?
– How are you going to react to what the other side says?
– What will you say is the talks come to a standstill?
– What concessions are you willing and able to make?
– What do you expect from the other side?
– Who will you be negotiating with, and what motivates them?

He suggests one should negotatiate within ethical and legal means. But other than that, telling white lies is OK. There are some grey areas hence, which I suppose easier if you read the book and make up your mind how you understand it.

Key take-aways:
– There’s no one best way to negotiate
– Establishing genuine rapport and trust is key to successful negotiations
– Successful negotiation is not about one party winning over the other, but about achieving getting to
a favourable situation for both parties. However, the process of getting there cannot be too smooth (he explains the psychological aspect to this throughout the book (esp. chpt 8 – “Harness the power of human nature: Psychological negotiating tactics)
– Most people are stricken by the “deadline” syndrome (he cites research to backup the idea that people will act when closer to deadline)
– “People succumb to the aura of legitimacy” (I felt there’s some trickery involved here, but as I said, it could be a grey area. Even I’m not sure if it’s entirely a bad idea)

P. 258: “The entire field of negotiation is merely the continual use of diverse methods to communicate ideas that will achieve a favourable result”.

p. 259: Important element of Trump-style negotiation — “You can only achieve mutual satisfaction and complete the biggest and best deals when you build a relationship of trust and rapport with those with whom you become involved.”

Chpt 14 – Telephone and E-mail negotiation tips was particularly useful I felt. “Telephone Traps” like forgetting some aspects (solution — keep detailed agenda and checklist); Never know who is listening; You can’t examine documents; Tendency to expect resolution. He offers suggested solutions which can apply to daily work. E.g. “Ask purpose of the call”, “Use a checklist or agenda”, “Have all available materials when on the phone”. “take good notes”, “confirm conversation with a follow-up letter”.

When to use Memorandums of Understanding (basically they are non-binding documents).

Chapter 16 – “The most intricate deal I ever negotiated”. I found this fascinating, where he described a deal he was involved in (with Katz Agency in the 1990s) that wasn’t a trump deal but had elements of a trump-style negotiation. In parts of the story, he relates to principles from the preceding chapters, which was a good way to recap and reinforce the concepts.

Parting thought — the rich will only get richer, because the money gets rolled over and over.

[See also: Review at High Browse Online]