Did you know that the environment accounts for up to 20% of how much you enjoy a drink? It’s a fascinating insight into the multisensory nature of eating and drinking, particularly within the context of luxury dining and fine gastronomy. While taste and smell play major roles, the dining environment is equally important, especially in high-end hospitality where creating a memorable experience is key.
Given the importance of negotiation in our lives and especially when doing business, the question we must ask is: What are the qualities that make some negotiators more effective than others beyond age, sex, status, education, motivations, and even intelligence?
Are there any other basic character attributes negotiators should develop or that should be highlighted? The answer is yes, and these are some of the most important
Regardless of how easy it is to send an instant message or how tight the agenda or the budget may be, a well-aware negotiator should continue giving importance to face-to-face meetings for better negotiation outcomes. Otherwise, one would be underestimating human nature.
Here are five good reasons a negotiator should give importance to face-to-face negotiations and incorporate it in their negotiation strategy.
To transcend initial rejection and overcome obstacles, a skilled negotiator must engage their creativity and generate ideas. Negotiation is a conflict of interests where gaps must be bridged, discrepancies ironed out, and accord reached. Creative negotiators can best generate solutions. Here is why and how.
Stress is on the rise in the modern World.
Everywhere negotiators are facing increasing stress levels at work (20% increase in the last 3 decades according to research). The recent pandemic has unfortunately not improved the situation.
A bit of stress is not entirely bad. It helps us go through adversity, face challenges, regain focus, etc. Astronauts and elite athletes train under stress to perform and respond better. However, too much of it will impair one’s performance as a negotiator.
Developing strategic brand partnerships is key to growing a business. There is a limit to what corporations can do or achieve by themselves. Getting a strategic partner on board can help them to go further or faster.
Brand partnerships have to create extra value. 1+1 should equal 3 and not 2. This is a basic principle.
Here are 5 steps on how to establish successful brand partnerships based on experience…
Evolving in The Modern World offers many great opportunities with great advancements, but also presents many challenges for negotiators. One of them is the fact that technologies context, rules, goals are changing all the time, which requires a high level of adaptability.
Disruption is not new, but the speed, complexity and global nature of disruption is at a scale we’ve never seen before.
The problem is that we are not necessarily wired to change (and even less to change quickly).
Few people spend enough time preparing for negotiations. Most just fit this into their commute to the meeting point and rely on their expertise to compensate.
Humans over-estimate their capabilities (including performing at negotiation) and focus on short-term problems but not distant ones. Contrary to what we think, planning ahead is not necessarily encoded in our genes.
The consequence is that we end up reacting to events with insufficient information rather than anticipating them
As an advocate for gastrodiplomacy and an organiser of exclusive dinner events, I love to see France’s culinary traditions promoted.
French President Emmanuel Macron announced yesterday the creation of center of excellence for gastronomy to promote French cuisine in international competitions.
How many hearts have we won serving the most exquisite dishes? France has been using its gastronomy as a tool in international relations for centuries. The art of serving delicate and appetizing food has long been a way for the French to showcase their know-how and excellence.
A bad reputation will always precede you. If you come to the negotiation table with a bad reputation, your counterpart will rightly be on the defensive despite considering a deal with you. Counterparts will be cautious and less inclined to make concessions. A good reputation brings more business and better business referrals. I personally prefer doing business and negotiating with people who have a positive record for generating money not only for themselves, but also for their partners. These are win-win partners.
Like athletes, CEOs can reach a steady continuous stream of performance through flow. Like navigator, they are intuitive and adaptive and can react with equal skill to good fortune and adversity. We have a lot to learn from.
Along with meditation, visualization techniques can be useful to negotiators. They improve creativity, confidence, and focus. Visualization basically consists in mapping your mind through a repeated projection of images and positive energy. These are things you want to happen and you believe in. It’s like working on a puzzle with the advantage of already knowing how the puzzle will look like when completed.
Most people are risk sensitive, especially when they are pushed to make a choice and money is involved. This sensitivity is fuelled by the attention we develop for negative aspects of things and bad news. The feeling of pain is also greater than the pleasure of gain.
If given a chance at an opportunity with a high potential payoff but an uncertain outcome, most will choose to stay home.
This is perfect example of failure in negotiation and influence and a great negotiation tip for readers. Gerard Ratner, CEO of Ratner Group lost his business, reputation and fortune almost overnight for forgetting some basic principles of negotiation and influence.
Although words only form a small part of the human communication palette, they are powerful. We continue speaking, listening, and reading every day even in the visual world we live in. Here are 5 reasons why you should pay more attention to your words.
It isn’t our position, but our disposition that makes us happy. Remember, some people freeze in the winter. Others ski. A positive attitude always creates positive results. Attitude is a little thing that makes a big difference. - John Mason
Successful negotiation requires positive energy and the creation of an environment that encourages cooperation. The attitude with which you enter a negotiation and the energy you diffuse plays a determinant role in that negotiation’s success. Positive energy increases your level of confidence and your capacity to absorb stress, makes you more influential, and opens your mind. People will also be friendlier if you adopt a positive attitude.
A negotiator will generally make fewer mistakes when their mind is positively charged, and they feel empowered. Negativity narrows their focus and tends to aim it in the wrong direction (often at themselves)
Brexit may not appeal to everyone, but it should get the attention of any business negotiator. Imagine the most difficult negotiation UK has ever faced in its history and a complex web of agreements with EU for 45 years, which now needs to be unraveled. By any standard, Brexit is a political nightmare, which will certainly benefit the lawyers who are lucky enough to gain a seat at the negotiating table...
Caught by surprise, the UK has been in a situation where its trade benefits with the European Union can be lost. The consequences may be devastating as British goods and services may become less competitive as a result of higher tariffs imposed on them. Corporations established in the UK might move elsewhere to obtain the benefits of the EU market. Some products, such as medicine, may become difficult to find, houses prices could fall, Scotland may want to remain in the EU...The challenge for the British prime minister and his team is huge...
Smartphones and computers are technologies that have become essential and ubiquitous in nearly every area of life, including negotiation.
With Covid-19, we have become even more dependent on these devices and electronic communication.
There was a time when we had to meet in person (or pick up our phone) and then send a fax for confirmation. Then came emails filling up our inbox and further reducing face-to-face meetings. Now people increasingly use instant messages to negotiate since apps, like WhatsApp, WeChat or Line, can transfer documents. This is not only instantaneous, but also spam free - probably because getting one's email address is more difficult than a personal phone number.
Zoom, Webex Microsoft Teams and other video conference platforms have slightly counter-balanced this trend, but the reality is we have have become electronic negotiators even more.
When I negotiate, I come across a fair bit of deceptive behaviors. It made me wonder if we were all lying or cheating when negotiating. I did some research and realized that we all do. Those who deny this are liars!:-) There are no saints or sinners. We’ve done it and here’s why:
Everyday people cheat and lie to strangers, friends, colleagues, clients and loved ones. It is just human nature. We have the ability to cooperate but also manipulate. Such ability developed after mankind’s use of language with the objective of gaining an advantage in the competition for resources and mates without using physical force. Well, you know what? Times have changed, but we are still programmed the same way.
All most refined ingredients were put together to create an exceptional event at the Mandarin Oriental Bangkok for Thai clients of Bank of Singapore: the Mandarin Oriental Bangkok (the most iconic hotel in town), a first class opera Singer, a top shelf jewelry maker, beautiful models, a 2 Michelin starred chef and the owner of four Bordeaux Grand Cru Classés.
A crisis like that of Covid-19 triggers a stream of challenging negotiations and re-negotiations. They are a challenge because:
⚠️ Stakes are high
⚠️ Discussions are often emotionally charged
⚠️ Situations are complex (multiple stakeholders and/or other factors)
⚠️ Stress can lead to risky decisions
Based on my experience, the following reduces chances of deadlocks and disputes, and increases chances of positive outcomes…
Like the traveling gnome in Amelie from Montmartre, The Master Key has gone on a trip around the world. Readers are invited to take pictures with the book with half their face in front of a famous buildings or an iconic scenery. The book cover title shall be visible.
We invite you to share these pictures on social media, tag the author, and use the #MasterKeyBook hashtag.
By sharing these pictures, you are given a chance to participate in The Master Key Contest and win great prizes.
Anger is very much present in negotiation and often gets in the way of successful outcomes.
We all experience anger when negotiating. It may come gradually or suddenly. Our blood pressure increases. Our body temperature rises and our face reddens.
Some negotiators use anger as a negotiation tactic. They show cold or hot anger from the start or change their mood along the way to force a counterpart to give in to something. If that anger is faked or exaggerated, the deception is obvious.
Some negotiators just don’t have the ability to cope with their own anger. It could just erupt every time they are triggered. And some can be very good at pushing other people’s buttons or testing their boundaries.
Ludovic is glad to announce a partnership with Grace T Kim, R. Ac., Master, Healer, Author, Coach.
Grace T Kim has accepted to create a guided meditation for readers of The Master Key with 2 exercises: one to prepare to an important negotiation and the other to reset during an important negotiation. We have asked a few questions to Grace T Kim about her career and her motivations to work with Ludovic:
You specialize in energy healing and chi? What is your story?
Keep your word as a negotiator, even it is expensive and inconvenient. Your word is your true worth.
We all meet overcommitters. They are nice and optimistic, convinced they can help, and then nothing happens. They want to please others, look good, or gain trust too quickly. They underestimate the cost of their promises, or they just stop making effort if they no longer benefit. Then, they claim a lack of time or an unforeseen event to justify their inaction. Some may not even bother apologizing and will become amnesic. Jean-Jacques Rousseau saw it clearly: “Those that are most slow in making a promise are the most faithful in the performance of it.”
While in Singapore last week, I met with my dear friend Michael von Schlippe, Managing Shareholder of Indochine Media Ventures, which publishes some iconic lifestyle magazines such as Esquire Singapore.
We agreed to meet at the Marina Bay Sand, center of attraction of the City state. And as he always kindly does when we meet, Michael brought me his last publication. This time, the cover was starring a celebrity named Blawko. I had never heard of him. The cover also said “Virtual Celebrity” and “Artificial Intelligence Issue”.
It happened that Blawko, who has 138k followers on Instagram, doesn’t actually exist and isan avatar. Half the magazine was actually written by a robot via Artificial Intelligence (AI) to demonstrate the progress of technology empowerment.
With January 2019 coming to end and Chinese New Year approaching, Ludovic, in association with Vitisasia, is gathering 50 influential people in House on Sathorn, Bangkok, for a an exceptional private Champagne reception.
Champagne glasses will be ringing in the fabulous setting of the Emerald and Secret rooms.
The event is supported by Champagne Gosset considered as the the oldest Champagne house in the World (1584).
I have always been fascinated by the capacity of explorers to prepare for what seems impossible to achieve for most humans. The objective for them is not only to break records but come back home safely. There will always be something out of their control. Yet, they endeavor to minimize risks by researching and mapping their mind through a repeated projection of images, as if they were there. Their ability to prepare should be an inspiration to all of us in the face of challenges.