INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.

Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Michael Marino.

 

The Michael Marino Commentaries

On a recent Price of Business show, Host Kevin Price visited with Michael Marino.

In our last discussion, we explored Kenny Rogers’ famous wisdom: “You’ve got to know when to hold ’em… and know when to fold ’em.”

Today, we focus on that second part—folding. In negotiation, “folding” isn’t failure; it’s strategy. It’s the choice to step back, settle, or concede when doing so best serves your ultimate goal. The key? You must know your objective, define success for yourself, and ensure neither is compromised, even if you don’t “win” in the traditional sense.

The Cuban Missile Crisis: A Masterclass in Strategic Folding

Few moments in history illustrate this better than the thirteen tense days of October 1962—the Cuban Missile Crisis.

After the disastrous Bay of Pigs invasion, Fidel Castro invited Soviet Premier Nikita Khrushchev to place nuclear weapons in Cuba, just 90 miles from U.S. shores. When American U-2 reconnaissance flights discovered missile sites under construction, President John F. Kennedy faced a potential nuclear showdown.

Instead of charging headlong into conflict, Kennedy used precise language and deliberate actions. He ordered a “quarantine” of Cuba—a term carefully chosen to avoid the warlike connotations of a “blockade.” Publicly, tensions soared. Privately, backchannel communications—through journalists, ambassadors, and telex messages—opened space for honest dialogue.

The result: Khrushchev agreed to withdraw missiles from Cuba. In return, Kennedy pledged not to invade the island and quietly agreed to remove U.S. missiles from Turkey (something already planned). To the world, Khrushchev appeared to fold. In truth, both sides walked away with something valuable.

This was not surrender—it was strategic folding to prevent disaster, protect core interests, and allow both parties to save face.

Lessons for Everyday Negotiations

Whether you’re brokering a multi-million-dollar deal, haggling at a farmers market, or renegotiating a contract, the same principles apply:

1. Know your opponent. Understand their motivations, constraints, and needs.
2. Define your final position. Be clear about your absolute limits.
3. Prepare for the worst-case scenario. Even if you hope not to face it.
4. Use backchannels. Private conversations can reveal possibilities that public posturing hides.
5. Remember—appearances deceive. The public version of a settlement may not tell the whole story.

Sometimes folding in the moment can set you up for a bigger win later. If Sal’s Roma tomatoes seem overpriced this week but you buy anyway, next week he may reward your loyalty with the ripest ones for free.

The Bottom Line

Negotiation is not about crushing the other side; it’s about achieving your objectives. Folding can be a power move when it preserves relationships, protects long-term goals, and positions you for future success.

In the timeless words of The Gambler: “If you’re gonna play the game, boy, you gotta learn to play it right.”

 

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