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Episode 105  |  47:45 min

How The Negotiation Process Is Like Poker

Episode 105  |  47:45 min  |  10.14.2019

How The Negotiation Process Is Like Poker

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This is a podcast episode titled, How The Negotiation Process Is Like Poker. The summary for this episode is: <p><span style="font-weight: 400;">The negotiations process can seem mysterious and difficult to those looking on from the outside, but Mike Caro says that it’s made up of the same principles and psychological dynamics that everyday life situations contain. Interestingly enough, Mike has developed that belief as one of the world’s foremost authorities on the game of Poker. It’s a tremendous offer to be able to present this conversation with Mike, who’s in seclusion somewhere in the Ozarks working on his latest brainchild. Join me for a fascinating journey into the mind of the Poker Mad Scientist, Mike Caro.</span></p> <h2><span style="font-weight: 400;">Outline of This Episode</span></h2> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">[0:34] Mike Caro’s amazing work, drawn from a life of poker playing and strategy</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">[3:20] The decision Mike made to move to a remote spot in the Ozarks</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">[6:02] Observations on how poker and life compare and overlap</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">[8:17] Caro’s law of loose wiring</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">[11:00] Learning to make better decisions when it matters most</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">[16:31] The psychology behind poker and the negotiation process</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">[20:13] Misinterpreting body language, nervousness, and more</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">[28:57] The biggest misconception about Poker: It’s about winning the pot</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">[34:35] Applying the weak / strong demeanors presented in negotiations</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">[37:33] Understanding the concept of “tilt” and how it impacts the negotiation process</span></li> </ul> <h2><span style="font-weight: 400;">Resources & People Mentioned</span></h2> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Negotiations Ninja</span> <a href= "http://www.negotiations.ninja/podcast/increasing-decision-quality-in-negotiation/"> <span style="font-weight: 400;">episode with Annie Duke</span></a></li> <li style="font-weight: 400;"><a href= "https://scoutrfp.com/negotiation"><span style= "font-weight: 400;">https://ScoutRFP.com/negotiation</span></a> <span style="font-weight: 400;">(sponsor)</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Our previous</span> <a href= "http://www.negotiations.ninja/podcast/power-in-negotiation/"><span style="font-weight: 400;"> podcast episode featuring Robert Greene</span></a></li> </ul> <h2><span style="font-weight: 400;">Connect with Mike Caro</span></h2> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Mike’s website:</span> <a href= "https://www.poker1.com/"><span style= "font-weight: 400;">https://www.poker1.com/</span></a></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">MIke’s BOOK:</span> <a href= "https://www.amazon.com/Caros-Book-Poker-Tells-Psychology/dp/1580420826"> <span style="font-weight: 400;">Caro’s Book of Poker Tells</span></a></li> <li style="font-weight: 400;"><span style="font-weight: 400;">MIke on Twitter:</span> <a href= "https://twitter.com/mikecaro"><span style= "font-weight: 400;">@MikeCaro</span></a></li> </ul> <h2><span style="font-weight: 400;">Connect With Mark</span></h2> <ul> <li style="font-weight: 400;"><span style= "font-weight: 400;">Follow Negotiations Ninja on Twitter:</span> <a href="https://twitter.com/NegotiationPod"><span style= "font-weight: 400;">@NegotiationPod</span></a></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Connect with Mark</span> <a href= "https://www.linkedin.com/in/markraffan/"><span style= "font-weight: 400;">on LinkedIn</span></a></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Follow Negotiations Ninja</span> <a href= "https://www.linkedin.com/company/negotiations-ninja-podcast"><span style="font-weight: 400;"> on LinkedIn</span></a></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Connect on Instagram:</span> <a href= "https://www.instagram.com/negotiationpod/"><span style= "font-weight: 400;">@NegotiationPod</span></a></li> </ul> <p><a href="https://plinkhq.com/i/1300435924"><strong>Subscribe to Negotiations Ninja</strong></a></p>

The negotiations process can seem mysterious and difficult to those looking on from the outside, but Mike Caro says that it’s made up of the same principles and psychological dynamics that everyday life situations contain. Interestingly enough, Mike has developed that belief as one of the world’s foremost authorities on the game of Poker. It’s a tremendous offer to be able to present this conversation with Mike, who’s in seclusion somewhere in the Ozarks working on his latest brainchild. Join me for a fascinating journey into the mind of the Poker Mad Scientist, Mike Caro.

Outline of This Episode

  • [0:34] Mike Caro’s amazing work, drawn from a life of poker playing and strategy
  • [3:20] The decision Mike made to move to a remote spot in the Ozarks
  • [6:02] Observations on how poker and life compare and overlap
  • [8:17] Caro’s law of loose wiring
  • [11:00] Learning to make better decisions when it matters most
  • [16:31] The psychology behind poker and the negotiation process
  • [20:13] Misinterpreting body language, nervousness, and more
  • [28:57] The biggest misconception about Poker: It’s about winning the pot
  • [34:35] Applying the weak / strong demeanors presented in negotiations
  • [37:33] Understanding the concept of “tilt” and how it impacts the negotiation process

Resources & People Mentioned

Connect with Mike Caro

Connect With Mark

Subscribe to Negotiations Ninja

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