Learn about moving in small steps and how it is one of the easiest and most commonly broken rules. Large steps give away more, but also imply there is more still to go. They also give you less trades along the way, so you get less back. Check afterwards and see what size steps you took. It should be many small steps with a trade every time.
- [Chris] One of the easiest and most commonly broken…rules in negotiating is move in small steps.…When I run exercises with people in pairs…on my training courses, it's amazing how often…someone will have a starting point of maybe…$4,800 and then their first move will be…to come down to $4,000.…They've just given $800 off and they didn't need to.…They could've come down from $4,800 to $4,700 or $4,650.…
And it's not just the amount that they've given,…but also they've sent a signal that they will…come down a lot further.…I have a rule, which is mostly reliable,…that if someone first reduces the price…by a certain amount, they're likely to reduce it…by the same amount again.…So if someone comes down $800, you can expect…to get another $800 off eventually.…So I'm now aiming to get it for $3,200.…The reason for this rule is that people…usually half the distance between…where they are and where they're planning to end up.…
So they'll come down $800 and then another $400,…and then $200, and then $100, which ends up…
- Why we avoid negotiating
- When you should think about negotiating
- Planning your negotiation
- Calculating your opening offer
- Leveraging different negotiation tactics
- How to trade
- Determining if you should walk away
Skill Level Beginner
Negotiating Your Leadership Successwith Elizabeth Robillard1h 20m Intermediate
1. Decide to Negotiate
2. Planning Your Negotiation
3. Opening Offers
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