EP31 Negotiation tools that work

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In this conversation, Mike shares practical tips and tools for negotiation. He emphasizes the importance of finding leverage and using it to create a win-win outcome. He discusses the power of anchoring, where starting with a higher price or set of terms can reposition the negotiation in your favor. He also suggests using the phrase 'Is there any flexibility on this?' to negotiate better terms. Lastly, he recommends using the question 'How am I supposed to do that?' to challenge unreasonable requests. These practical techniques can be applied in various negotiation scenarios.

Takeaways

• Negotiation is about finding leverage and creating a win-win outcome.
• Anchoring is a powerful technique where starting with a higher price or set of terms can reposition the negotiation in your favor.
• Asking 'Is there any flexibility on this?' can lead to better terms in a negotiation.
• Using the question 'How am I supposed to do that?' can challenge unreasonable requests and shift the negotiation in your favor.

Chapters

00:00
Introduction to Negotiation

02:33
Understanding Leverage

10:56
The Power of Anchoring

15:17
Flexibility

Find out more about working with me. mike@smbmastery.com.au or https://www.linkedin.com/in/mikeadamscott/