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

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237: Taking Leadership as an Associate

237: Taking Leadership as an Associate

It is a myth to assume that you are automatically awarded leadership roles as a bright associate or consultant. Competition for these roles are fierce, assuming you get it, and being "awarded" a role is far less useful than having earned the role in the eyes of your peers. In the latter, teams follow you because they choose too. In this podcast I will outline a technique I used throughout my career to find "rules" which could be broken to take control of engagements and earn the trust of peers and teams.

15 Jan 201520min

236: What is a Good Consulting Mentee?

236: What is a Good Consulting Mentee?

What can Darth Vader from Star Wars and monkeys in Africa teach you about effective mentoring? This podcast touches on those things which define a good mentee both in management consulting and for clients seeking a consulting career. The podcast describes the attributes of both an effective mentee and mentor, and the typical behavior of a "good" and "bad" mentee. Surprisingly, a good mentee should actually give you a small headache.

9 Jan 201524min

235: How Age Impacts Consultants and Applicants

235: How Age Impacts Consultants and Applicants

Having spent a large part of my consulting career in my twenties, since I joined the Firm just shy of my 22 birthday, I personally know what it was like to successfully manage a young image. I was generally the youngest analyst, associate or engagement manager on a team, and a very young principal leading teams. I recall several times managing teams where the youngest person was older than myself. Those kinds of situations invariably raise challenges in controlling one's image and client perceptions. In this podcast, I outline 7 things which can be done to control ageism, and begin by defining how younger and older consultants differ in the signals they send.

3 Jan 201527min

234: The Role of Your Significant Other

234: The Role of Your Significant Other

One oversight we have corrected as we have learned more about our clients, is to understand the role their significant others play in their lives and decisions. We tend to assume that the advice we provide, and actions you take, are largely influenced solely by your wishes. That could not be further from the truth. In some ways, your significant other is a major investor and she/he can cause a lot of problems if you take actions not in keeping with his/her wishes. This interesting podcast, examines the decisions of our youngest client and how we helped her understand the implications of her personal choices as she prepares to join McKinsey.

28 Dec 201430min

233: Racial Prejudices in Management Consulting

233: Racial Prejudices in Management Consulting

The issue of gender disparities and the increasing African-American ratios in management consulting firms have rightly become important issues. Yet, the latter is a frighteningly narrow interpretation of racial prejudices.

22 Dec 201447min

232: McKinsey Paris: Debrief Call After Sasha's Offer

232: McKinsey Paris: Debrief Call After Sasha's Offer

Our client, Sasha recently received an offer from McKinsey Paris for the Operations Practice. This is the third podcast of a series of three interviews with him.

16 Dec 201446min

231: McKinsey Paris: Second Coaching of Sasha

231: McKinsey Paris: Second Coaching of Sasha

Our client, Sasha recently received an offer from McKinsey Paris for the Operations Practice. This is the second podcast of a series of three interviews with him.

10 Dec 201444min

230: McKinsey Paris: First Coaching of Sasha

230: McKinsey Paris: First Coaching of Sasha

Our client, Sasha recently received an offer from McKinsey Paris for the Operations Practice. This is the first podcast of a series of three interviews with him.

4 Dec 201446min

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