Negotiation is the most important skill if you want to become wealthy.
You will never get what you deserve if you don't negotiate.
Negotiation will help you make more money by:
• Securing better rates
• Getting more raises and promotions
• Selling products and services for higher prices
Negotiation will help you save more money by:
• Getting discounts on purchases
• Lowering bills and expenses
• Avoiding fees and penalties
Without negotiation skills, you'll miss out on many opportunities and leave lots of money on the table.
10 simple strategies to master negotiation:
1. Use the power of silence and pauses:
After making an offer, stop talking and let the other side respond.
Silence prompts the other side to fill the void, sometimes making concessions.
Awkward silences create pressure.
2. Make them negotiate against themselves:
Say "This offer isn't where I need it to be. How can you improve upon it?"
Get them thinking of better offers.
3. Leverage competition:
Make it known that you're getting quotes from competitors.
"XYZ Company offered me a lower rate, could you match it?" prompts them to lower prices to win your business.
Use competition to your advantage.
4. Use odd numbers and precise figures:
Proposing $49,431 seems more grounded than $50,000.
Odd numbers and unusual precision feel more carefully calculated.
5. Ask for more:
Ask for more than you think you can get.
Make a first offer that resets their sense of what's acceptable. Then "concede" toward your actual goal.
This gives you room to compromise while still ending up with what you want.
Aim high.
6. Use positive framing:
Say what you want rather than what you don't want.
People respond better to a positive approach.
7. Use conditional phrases:
Use phrases like "if-then".
Say "If you can do X, then I can do Y" to propose trade-offs and find common ground.
8. Use reciprocity:
Make a small concession or gesture, and they'll likely reciprocate.
"If I adjust my timeline by a week, could you increase the payout by 5%?"
9. Explore indirect reciprocity:
"My friend Jamie said you were great to work with.”
Leverage social proof and third-party credibility to your favor.
10. Watch body language:
Notice if they rush to respond or hesitate before answering.
This can signal their flexibility or firmness on pricing and terms.
Reading nonverbal cues can help you know when to push or back off.
CONCLUSION
Mastering negotiation takes practice, but these 20 tips will serve you well in life. If you liked this post please:
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