508: The radical way to negotiate (with Barry Nalebuff)

508: The radical way to negotiate (with Barry Nalebuff)

Welcome to an episode with a leading Yale expert and serial entrepreneur, Barry Nalebuff. Get Barry's book here: https://amzn.to/3OiNiJs

For thirty years, Barry has taught negotiation, innovation, strategy, and game theory at Yale School of Management, which led him to develop a new approach toward negotiation. This approach is vastly different from how most people think about negotiation, which usually involves having the best tactic to out-smart the other party and get the best deal.

This podcast explains the concept of the negotiation pie, which is the additional value created through an agreement to work together. It exhibits fairness and identifies what's really at stake in any negotiation. We share examples that showcase negotiation principles and a different mindset about creating value that benefits both parties involved – more importantly, understanding the views of each party as if they are solving problems rather than making the most out of the negotiation.

Barry is the co-author of seven books and an online course. Thinking Strategically and The Art of Strategy are two crossover books on game theory with more than 400,000 copies in print. Co-opetition looks beyond zero-sum games to emphasize the potential for cooperating while competing. Why Not? offers a framework for problem-solving and ingenuity. Lifecycle Investing provides a new strategy for retirement investing. Mission in a Bottle tells the story of Honest Tea. His most recent book is Split the Pie, which is based on his negotiation course at SOM. An online version of the negotiation course is available for free on Coursera. It has 400,000 active learners and is the second-highest rating on the Coursera platform.

In 1998, Barry—together with his former student Seth Goldman—co-founded Honest Tea. In 2011, the company was purchased by Coca-Cola. His second venture, Kombrewcha, is a slightly alcoholic version of kombucha. The company was acquired in 2016 by AB-Inbev. He is currently working to build Real Made Foods.

He works with many entrepreneurial firms. He serves on the board of Q Drinks (started by his former student Jordan Silbert), Calicraft Beer, and AGP Glass. Alongside startups, he has extensive experience consulting with multinational firms. He advised the NBA in their prior negotiations with the National Basketball Players Association and served on the board of Nationwide Insurance. A graduate of MIT, a Rhodes Scholar, and a Junior Fellow at Harvard's Society of Fellows, Nalebuff earned his doctorate at Oxford University.

Get Barry's book here:

Split the Pie: A Radical New Way to Negotiate. Barry Nalebuff: https://amzn.to/3OiNiJs

Enjoying our podcast? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

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400: The six tools of successful leaders (Monday Morning 8 a.m. #20)

400: The six tools of successful leaders (Monday Morning 8 a.m. #20)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

22 Maalis 202132min

399: The perils of low costs (Monday Morning 8 a.m. #19)

399: The perils of low costs (Monday Morning 8 a.m. #19)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

15 Maalis 202139min

398: Consulting case interview (McKinsey, BCG, Bain) example: French dairy farm wants to increase revenue

398: Consulting case interview (McKinsey, BCG, Bain) example: French dairy farm wants to increase revenue

We hope you will enjoy the "Consulting case interview (McKinsey, BCG, Bain) example: French Dairy Farm Wants to Increase Revenue" episode. This is excerpt from TCO IV with Sizan, episode 33. This is a market share case. If we gave Sizan a case about a factory she would find it easier to increase production. But it is not as easy when it comes to dealing with animals. This is a case with production element. The part we expect candidates to see is that this is a case about stealing market share. To steal market share there are 4 things you can do. How do you steal market share? 1. Price 2. Place 3. Promotion 4. Product. The 4 Ps of marketing. You need to think about the case. Ask yourself what are we trying to do. We got a dairy company. We want to sell more. What does it mean to sell more? We basically want to increase our market share. How do we take market share? Every single case can be reduced to either increasing revenue or cutting costs. If you trying to sell more milk, you are trying to increase revenue. This is a revenue case where we specifically want to focus on volume. Milk is a commodity. Even organic milk is a commodity. Remember you need to follow the right process during a consulting case interview when you are preparing and going through interviews with companies like McKinsey, BCG, Bain, Deloitte etc. In fact, learning and mastering this process will also greatly help you when you start working as a management consultant, and even once you exit consulting. You can't just rely on your knowledge and experience. Your experience and knowledge can get outdated, but if you follow the right process you are giving yourself the best chance to be a strong problem solver.

9 Maalis 202115min

397: Rethinking M&A (Monday Morning 8 a.m. #18)

397: Rethinking M&A (Monday Morning 8 a.m. #18)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

9 Maalis 202137min

396: Apple disrupts a decades-old value chain migration (Monday Morning 8 a.m. #17)

396: Apple disrupts a decades-old value chain migration (Monday Morning 8 a.m. #17)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

9 Maalis 202137min

395: The single biggest strategy shift for the next few decades (Monday Morning 8 a.m. #16)

395: The single biggest strategy shift for the next few decades (Monday Morning 8 a.m. #16)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

22 Helmi 202138min

394: Apple car & Amazon's core strategy (Monday Morning 8 a.m. #15)

394: Apple car & Amazon's core strategy (Monday Morning 8 a.m. #15)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

15 Helmi 202134min

393: Defense is not a strategy (Monday Morning 8 a.m. #14)

393: Defense is not a strategy (Monday Morning 8 a.m. #14)

Hello everyone! This is Monday Morning 8 a.m., a weekly newsletter where we distill the insights from all of the distractions, articles, and emails that you receive in your inbox every day. In this newsletter, we're going to focus on four major themes from last week's news. To get a written copy with links to mentioned articles sign up here: www.firmsconsulting.com/promo

8 Helmi 202131min

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