Explained: What exactly is negotiating power? (Hint: UCO bank's letter)

I have your $10,000. Let's talk.                                                                                                                                                                                                                                                                                                                                                                                                                 Forwarded this email? [Subscribe here]() for more [Explained: What exactly is negotiating power? (Hint: UCO bank's letter)]( I have your $10,000. Let's talk. Nov 3   [READ IN APP](   Imagine this. I take $1000 (or ~Rs. 80,000) from you and even after an agreed date (say, 3 months). Thanks for reading Ashish Sinha on Startups, Tech and AI! Subscribe for free to receive new posts and support my work. [Subscribe]() What’ll you do? Remind me. What if I don’t return your money even after 6 months? You will remind me again. What if I don’t return your money even after 12 months? Or 15 months? POLL What'll you do? [Remind me]() [Threaten me]() [Explore legal options]() [grayscale photography of group of person sitting indoors]( Photo by [Bahador]( on [Unsplash]( In all probability, you will threaten me or try to name/shame me/explore legal options (a mix of all). Right? What if I borrow $10,000 (Rs. 8Lakhs) from you and just don’t answer your calls? Or $100,000 (Rs. 80L)? Well, after your threatening calls and legal options (which you know will go on for many years without any assurances of you getting your money back), you will call me for a discussion. We will sit around a negotiating table and figure out (amicably, hopefully) the next steps! Well, this is what is called negotiating power. Negotiating power is your position in a particular negotiation relative to the other sides. When I took your $100, you could go all-in against me. It wasn’t a case of $100, but to teach me a lesson (“how can anyone cheat on me”) But not with $100,000. You need your money back :) --------------------------------------------------------------- The recent case of UCO bank trying to distribute Diwali sweets to top 10 NPA borrowers is a perfect example of an entity losing its negotiating power. [Image]( What are your thoughts? Know of more such examples? Do share it in comments. Recommended read: Atomic Ideas. By Ashish Sinha [How to succeed at hard conversations: Chris Voss]( Hey This week, I am bringing you ideas not from a book, but from a podcast between Dr Huberman and Chris Voss, an expert in negotiation and former FBI agent, who shares his unique insights on tackling difficult conversations in various contexts. From his experiences in high-risk, high-stakes situations, Chris Voss emphasizes the significance of emotional intelligence, active listening, and understanding the other party’s viewpoint in successful negotiations… [Read more]( 13 days ago · 2 likes · Ashish/NextBigWhat Thanks for reading Ashish Sinha on Startups, Tech and AI! Subscribe for free to receive new posts and support my work. [Subscribe]() nextbigwhat brings you curated news, product and tech trends across a range of industries - ensuring you save time and be the most well informed person in the room. Follow nextbigwhat on [LinkedIn](   [Like]( [Comment]( [Restack](   © 2023 Zakti Techmedia Private Limited 677, 27th main, HSR Layout, Bangalore-560102 [Unsubscribe]() [Get the app]( writing]()