Joel Peterson, co-founder of JetBlue and lecturer at Stanford, breaks negotiation down into simple, practical steps. He opens with BATNA, your “best alternative to a negotiated agreement.” Know what you’ll do if talks stall. That clarity gives you leverage—if your BATNA is strong, you walk away; if it’s weak, you manage expectations. He presses you to list your alternatives on paper before any sit-down, so you never bluff yourself into a bad deal. Next, he tackles anchoring. The first number on the table sets the tone. Aim high—justifiably high—so you have room to bend without surrendering value. He cites a sales negotiation where a 20 percent premium anchor turned a $100,000 deal into $120,000. Listeners learn how small data points—a single comparative statistic or case study—solidify that anchor in your favor. He moves on to reciprocity and concession patterns. Every time you give something, ask for something in return. Frame concessions as targeted, not gestures of goodwill. If you offer faster delivery on a project timeline, pair it with a slight price increase or scope reduction. Peterson’s real-world example: a tech vendor offered a discount for upfront payment, then secured a longer contract term. Both sides felt they’d won. Finally, he dives into emotional intelligence in the room. Watch body language, mirror speech tempo, and use silence strategically. He recounts a boardroom standoff where pure stillness broke a deadlock—no words, just anticipation until the other side blinked first. That tactic, he says, beats nonstop talking. Throughout, Peterson weaves stories from construction bids to airline partnerships, proving these aren’t academic theories but tools you can apply tonight.