From the course: Management: Top Tips

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Going beyond small steps

Going beyond small steps

From the course: Management: Top Tips

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Going beyond small steps

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- Now, there's one very easy rule that you can use in the trading phase. We've just talked about trading and using the words if you did this, then I could do that. That's quite tricky. There's a much easier thing you can do at the same time, which is always move in small steps, so when you do trade, only give a small amount away. And when I run courses and we do role play exercises and things, it's fascinating that the biggest mistake that people make is almost always they give away too much. They give away 25% of the price the first time they concede. So they're asking for let's say 4,000 pounds or whatever and they go, well how about three? And what they should do is go from four to something like 3,820 or some sort of non-round number that's only a small drop. The reason why you should move in small amounts is partly, of course, you're giving away less money if you do that, but also you're signaling that there's not much more to go. Whereas if you move in a big jump, you're saying…

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