Show Notes
Fresh out of Harvard Business School, entrepreneur Desirée Stolar and her co-founder must negotiate equity splits and a tricky manufacturing deal before they are unexpectedly chosen for Shark Tank. They must prepare carefully—the numbers, the very different “sharks’” personalities, and the high-profile process—and ultimately receive an investment offer from Mark Cuban, after which some very unexpected negotiating twists and turns ensue.
About the Podcast: From Disney’s acquisition of Pixar, to trade agreements with China, pivotal Blackstone deals, and the peaceful end of apartheid in South Africa, landmark agreements are often spearheaded by savvy negotiators who employ winning strategies and tactics.
I’m Jim Sebenius, your host for Dealcraft. For decades, I've practiced, researched, advised high-level clients, and taught effective approaches to complex negotiations. These experiences led me to create Dealcraft. I welcome you to join me each week as I share fascinating deal stories and distill practical insights for listeners to apply in their own toughest negotiations.
Host: Jim Sebenius Co-Producers: Alex Green and Avery Moore Kloss Outreach: Podglomerate
Materials courtesy of the Great Negotiator Award Program at the Program on Negotiation at Harvard Law School. Copyright © President and Fellows of Harvard College.
Materials courtesy of the American Secretaries of State Program, a joint effort of the Program on Negotiation at Harvard Law School, the Program on the Future of Diplomacy at Harvard Kennedy School, and Harvard Business School. Copyright © President and Fellows of Harvard College.
More from Dealcraft: Insights from Great Negotiators
While we’re in-between Dealcraft seasons, we’re sharing an episode of Managing the Future of Work, the chart-topping and critically-acclaimed podcast from Harvard Business School. Each episode, HBS professors Bill Kerr and Joe Fuller talk to CEOs, technologists and experts grappling with the forces (like automation and demographic shifts) that are reshaping the nature of work. You’ll hear thought-provoking conversations with notable guests, including IBM’s Chief Human Resources Officer Nickle LaMoreaux on how Big Blue is adopting AI, and LinkedIn’s SVP and Chief People Officer Teuila Hanson on workforce diversity.
In the final episode of Season One of Dealcraft: Insights from the World's Great Negotiators, I’ll offer you several fresh negotiation insights plus a look back over the dealmakers and diplomats from whom we've heard during these last twelve weeks. Each of these negotiators has given us a master class in one or more of the “dimensions” that make up the “3D Negotiation” framework that David Lax and I have developed over the last three decades:
Sadly, Colin Powell is best remembered in many quarters for deploying his immense personal prestige in giving what became his infamous speech at the United Nations. This speech purported to reveal evidence that Iraq had weapons of mass destruction, thereby building support for the disastrous U.S. invasion of that country. Powell did not want to give this speech on the rushed timetable demanded by President George W. Bush along with neoconservatives Vice President Dick Cheney and others. Having “lost” this timing negotiation with the president, the die was cast. We probe this episode for insight into how a more sophisticated approach to his “negotiation” with the president might have led to a very different outcome, in the process seeking to extract positive lessons from painful negotiating failures.
In 2015, before a rapt Harvard audience, Colin Powell recounted his poignant and incredible life story and career with me and my colleagues Bob Mnookin and Nick Burns. Interwoven into his remarkable accounts were lessons drawn from profound success and deep failure in negotiation. In this week's episode of Dealcraft: Insights from the World's Great Negotiators, I share three short examples of success from these conversations with Powell:
When facing any negotiating counterpart, especially a very tough one, it is wise to learn as much as possible about their background, likely approach, and tactics that can turn the interaction to your advantage. This episode uses Vladimir Putin as a prototypical hardball opponent and shows just how much one can usefully learn by speaking with others who have extensively and personally negotiated with this challenging Russian leader. Via interviews with former U.S. Secretaries of State Colin Powell, Condoleezza Rice, Hillary Clinton, John Kerry, and Rex Tillerson (who also carried out many negotiations with Putin when Tillerson was a top ExxonMobil executive), this episode gives valuable insights into dealing effectively with Putin, but more generally demonstrates a key element of preparation for tough deals.