Effective Negotiation Training Can Prove That Failing Can Be Better Than Winning
People are not particularly fond of losing. Everyone loves a winner and it is essential for us all to be on the winning side. In fact, it is so important for individuals to be on the winning side that research signifies that typically we have a pretty an insightful approach to handling the likely dangers.
In an area of research referred to as Prospect Theory, Kahneman and Tversky looked into the likely anomalies and contradictions in individual habits. They discovered that research individuals when given a choice introduced in one way might present cautious behaviour but when given essentially the same option formulated in another way the same research subjects might show risk seeking behaviour.
An important result of the analysis performed by Kahneman and Tversky is that they found that people's behaviour towards risks associated with prospective benefits can be very unlike their behaviour when it comes to risks associated with probable losses.
For example, when people are presented a choice between getting $1000 with confidence or getting a 50% chance for getting $2500, they may well select the certain $1000 in preference to the uncertain possibility of getting $2500 even though the analytical expectation of the uncertain option is $2500. This is a perfectly sensible mindset that is referred to as risk aversion.
But Kahneman and Tversky also found that the same individuals when confronted with a specific loss of $1000 as opposed to a 50% possibility of no loss or a certain loss of $2500 do usually select the risky option. This is called risk seeking behaviour.
Exactly what this means for you in the context of your business negotiation or negotiation training is the fact that it is really a good idea to show your counterparts the things they bear to lose when they do not move in the direction that you are suggesting. It is definitely wise to tell your counterparts the things they stand to achieve by shifting in your direction but the strength of your stance will be enhanced if you could increase the advantages the specific things that they are going to fall short on if they do not shift in your direction.
This kind of loss framing is strongest if it is combined with the Scarcity concept of influence that states that we associate much more worth to those things which are less obtainable. We should therefore focus on those things that are specifically relevant to our own arguments and in addition to pointing out the advantages associated with going in our direction we should always also point out the particular, unique things that our counterpart might stand to lose when they do not move in our direction.
Using negotiation skills such as loss framing to your benefit is an excellent method which you could use the concept of losing to support you to win.
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