Negotiation Trend Archives - discussingterms.com https://discussingterms.com/tag/negotiation-trend/ The definitive source on negotiations. Sat, 17 Dec 2022 20:09:05 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 https://i0.wp.com/discussingterms.com/wp-content/uploads/2022/12/cropped-DTLogo.jpg?fit=32%2C32&ssl=1 Negotiation Trend Archives - discussingterms.com https://discussingterms.com/tag/negotiation-trend/ 32 32 214584540 Negotiation Tip:  Use a Wingman https://discussingterms.com/2022/12/17/negotiation-tip-use-a-wingman/ Sat, 17 Dec 2022 19:41:29 +0000 https://discussingterms.com/?p=73 Stuart R. Gallant, MD, PhD My field of negotiation primarily involves business negotiations in the…

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Stuart R. Gallant, MD, PhD

My field of negotiation primarily involves business negotiations in the pharmaceutical industry.  I regularly discuss ongoing negotiations with people I think of as “negotiation wingmen.”  I do not recall reading about the practice in any books on negotiation, but I assume that most negotiators have someone that they use as a sounding board.

What is a Negotiation Wingman?

A negotiation wingman is someone who is generally familiar with your line of business who can help you with advice about your negotiation challenges and opportunities.  They may be someone you met at a previous company or someone you work with currently.  They should be capable of maintaining confidentiality—in many circumstances, they should be covered by a nondisclosure agreement (NDA) which means that they should receive some compensation to lock in the validity of the NDA.  This does not need to be an expensive relationship.  If you can offer them the same service as their negotiation wingman, the payment may be in the form of your advice in return for their advice.  Also, they should be easy to reach (cellphone is best), and needless to say, you should respect their opinion.

Trends in Negotiation

Having someone to discuss ongoing negotiations with has always been a good idea, but two trends make use of a negotiation wingman even more valuable:

  • Today, more negotiations occur with a significant email component.  That form of communication significantly increases the risk of misunderstanding.  There are no body language clues.  Back and forth dialog may be difficult due to scheduling difficulties and time zone differences.  Fortunately, email exchanges provide natural pauses where consultation with your negotiation wingman will be convenient as you contemplate a response to the latest offer you received.
  • Today, legal counsel is more expensive than ever.  At the same time, more employment situations are remote with small teams that may not meet face-to-face.  The negotiator has less time with legal counsel than in previous decades at the same time they are more isolated in the office.  A negotiation wingman relationship can fill in these gaps.  (Caveat:  there is no substitute for good legal advice—DiscussingTerms is not suggesting getting rid of your firm’s counsel.)

Benefits of a Negotiation Wingman

There are many benefits of using a negotiation wingman:

  • The dialog with a negotiation wingman can prevent misunderstanding.  “Am I reading this correctly?”
  • You and your negotiation wingman can work through scenarios.  “That is super unlikely.” versus “You better consider this.”
  • Scientific studies show that in most circumstances, two minds work better than one.  A diversity of knowledge, world experience, and emotional responses provide the best resource to consider your next move in a negotiation.
  • Negotiation can involve a significant amount of tension—particularly when the stakes are high.  Talking things through with your negotiation wingman can release some of that tension, allowing you to perform better as you bargain.

Conclusions

I think anyone who has spent a significant amount of time in the field of negotiation appreciates the value of having someone to talk to about the goals and strategy for a bargain.  If anyone has seen an academic study addressing this area of negotiation, I would be interested in hearing of it.

Disclaimer:  DiscussingTermsTM provides commentary on topics related to negotiation.  The content on this website does not constitute strategic, legal, or financial advice.  Consult an appropriately skilled professional, such as a corporate board member, lawyer, or investment counselor, prior to undertaking any action related to the topics discussed on DiscussingTerms.com.

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