Quick, Practical and Powerful Negotiation Tips
August 20th, 2010 Filed under: Negotiation Tips — Negotiation Author
How much do you get paid per hour? Maybe $20 an hour for an average Joe? $100 for a lawyer or accountant? $300 an hour for a seminar speaker? Here I would like to inspire you with the following powerful tips so that you can literally get paid thousands of dollars an hour negotiating your best deals and creating solid value.
Some of you may just say “But I don’t want to negotiate, it makes me look stingy and mean…”. I would like to comment on that. In fact, you are not creating a win-win solution for both sides at the negotiation table. Because the other party expects you to bargain so he can show how good a salesman he is and the bargain gives him a sense of accomplishment. Let me further explain on this point: If you say “yes” too quickly to the deal, believe it or not, the psychology of your transaction partner will go like this “Damn, I charged too little for the deal, I should have raised the price a little bit more!” and regret.
Believe it or not, you yourself likely will regret sometime in the future “Why I was so shy at the time and failed to ask for a $2000 reduction on the car. I was a fool who paid the higher price when everyone else paid far less on that car!”
Do you know, by negotiating for just 20-30 seconds, you can create the best value on the hourly basis? You may ask “Why is that?”. Let me give you an example: Say you get a $10 price reduction after a one minute negotiation, then how much value you have created on the hourly basis? You will answer “A whopping $600/ hour!” Yes, you are right, the value you’ve created is astounding!
Now you have understood the power of negotiation, let’s move on to the core steps to achieve great success in powerful negotiation.
1. The target item must be something we want.
2. The target item must be available somewhere else.
3. Talk to the decision maker.
4. You’ve got to be nice, people don’t like to negotiate with rude people.
5. Cash speaks: Offer to pay cash to get a discount.
6. Ask for a price reduction using the magic sentence: “You’ll have to do better than that…” repeat when necessary.
7. Be willing to walk away.
8. Give your cell# away (they will end up calling you back and agreeing on your price, believe it or not).
Apply these 8 steps wisely, you will create win-win deals, create significant value on the hourly basis and gain great satisfaction!
See you at the top! Bookmark this page and stay tuned for more tips.
Oliver Gu
Success Coach, Entrepreneur
To search other high-value added research articles written by Oliver Gu, please visit Oliver’s website at http://www.goldenvisionforyou.com. You will be amazed.
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