How to Negotiate Like a Pro
Negotiating is not just about 'paying less'. It's about striking a deal where both people walk away happy.
Below are a few elite-level tips I've used to close multimillion-dollar deals, or just get the best price on Facebook Marketplace.
#1. Find out what they really want
Not everyone wants money. You need to get people talking and find out what they really want.
They could want:
Other goods, etc
They may say they want $10,000 - but what is that for? Do they need that money to buy a new car?
If you can make the goal achievable at the price you're offering - you'll be more likely to close the deal.
"I can't go to $10,000, I just don't have the budget, but I can definitely see why you think you'd need that much for a car.
If you're in need of a car, have you thought about getting a lower model, or one with more mileage as a temporary solution?
You can always get an upgrade in future, but for now, I can stretch to $7,000 - so you'd definitely get your car for that."
By shifting the focus to the car and not the monetary amount, you've made the offer acceptable even though it's 30% lower than what they initially said they wanted.
#2. The person who wins the negotiation is the person who’s willing to walk away
You have to have a set figure or budget in mind. Sometimes a negotiation will be way off and in those situations, you need to be prepared to walk away.
Not every deal has to be done. Exactly like playing poker, you should fold more hands than you play.
#3. Don't use 'other offers' to show your worth
One tactic a lot of people use in negotiating is to say how many people are interested.
Let's pretend you're trying to negotiate a starting salary that's higher than what they offered. Don't say you have other companies willing to offer you more money... That's gross.
"I really want to work with you, but that offer is just slightly below what I'm willing to accept.
I know the value I can provide to your company - and I'm more enthusiastic about working for you than anyone else, but I just can't make it work at $70,000.
If you could come up to $75,000 I'd accept the position right this second.
That's a very powerful & commendable stance.