Golden Rules of Bargaining Technology Meeting Nick Krym, 03.04.2009 Golden Rules of Bargaining

Whether you find yourself at home…

… or on vacations…

… playing sports…

… or working hard…

… talking to your kids…

… or your boss…

Chances are You will be Negotiating

And it means that you should master The Golden Rules of Bargaining

Golden Rules of Bargaining Have deep roots History Culture Psychology Apply to all kind of negotiations Business Personal business Relationships Can help you in many different ways

Have deep roots

History

Culture

Psychology

Apply to all kind of negotiations

Business

Personal business

Relationships

Can help you in many different ways

Rule # 1 No matter how exciting it may look

You must be ready to walk away

Be Ready to Walk Away If you are not… The process will be too painful Your emotions will be your worst enemy You will drive the price up You might as well do not negotiate – get someone else to do it for you Don’t sweat the small stuff – and it’s all small stuff

If you are not…

The process will be too painful

Your emotions will be your worst enemy

You will drive the price up

You might as well do not negotiate – get someone else to do it for you

Don’t sweat the small stuff – and it’s all small stuff

Rule # 2 Look Interested

But never desperate

Look Interested not Desperate Get NP engaged Radiate the right image Condition yourself for bargaining

Get NP engaged

Radiate the right image

Condition yourself for bargaining

Rule # 3 Keep your eyes on the ball

Keep Eyes of the Ball Concentrate on the process Don’t get emotionally involved Don’t get distracted

Concentrate on the process

Don’t get emotionally involved

Don’t get distracted

Rule # 4 Don’t try to impress the other side

Look dumb not smart

Don’t Try to Impress The goal is to win not to impress Ask for wind and you receive tornado Get NP to help you

The goal is to win not to impress

Ask for wind and you receive tornado

Get NP to help you

Always gasp and act shocked (flinch) at the other side first proposal. Rule # 5

Flinch Counter high bid Establishes right expectations Establishes right mind set

Counter high bid

Establishes right expectations

Establishes right mind set

Rule # 6 Always ask for more than you expect

Ask for More than Expect You might just get it Do not paint yourself in the corner Build your NP a golden bridge

You might just get it

Do not paint yourself in the corner

Build your NP a golden bridge

Rule # 7 Never say “Yes” to the first offer

Never Say Yes to 1 st Offer Don’t deprive yourself of value Don’t miss the fun Protect from Buyer/Seller remorse

Don’t deprive yourself of value

Don’t miss the fun

Protect from Buyer/Seller remorse

Rule # 8 Never go down on price or make a concession first.

Get the other side to step forward

Don’t Make Concessions 1 st Establish the right dynamics Don’t get on a slippery slope Put your NP on it

Establish the right dynamics

Don’t get on a slippery slope

Put your NP on it

Rule # 9 Never make a concession…

Without asking for something in return…

Ask for Something in Return Establish the right dynamics Don’t get on a slippery slope Put your NP on it

Establish the right dynamics

Don’t get on a slippery slope

Put your NP on it

Rule # 10 Always congratulate the other side.

Congratulate the other Side You may learn something You might meet again Remind yourself never to reveal secrets

You may learn something

You might meet again

Remind yourself never to reveal secrets

And the last point…