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How to negotiate better than 90% of the rest of the business world in 3 easy steps:
1. Anchor correctly
Your anchor is the first number you share with your counterpart.
That first number has disproportionate weight in the deal because it moves the entire conversation toward it.
Only rarely should you offer your anchor first.
And when you do, it should be a range (not a single number) AND that range should be favorable to your actual target. Example: you want your salary to be $120k, so you give a range of $115k to $145k.
But where possible, make sure your counterpart anchors first.
When they do, you should bracket your actual target.
Bracketing takes advantage of the natural human tendency to "meet in the middle".
If your target salary is $120k, and they offer you $100k, then you bracket at $140k.
When you "meet in the middle", you'll land closer to your target.
(But don't go crazy with your bracketed number, either, or you'll lose the deal completely).
2. Move your counterpart's anchor as many times in your favor as possible before you anchor.
The first and easiest step to do this is by flinching.
Flinching is expressing surprise at your counterpart's offer, as though you're mildly offended or surprised that they were so far off.
Often, in order to save face, a counterpart will concede immediately.
If they offer you $100k, you visibly "flinch", or say, "huh...", or "oh...", and let it hang.
They will often just come right out and say, "But I can probably get you to $110k if you can give me a day or 2."
You can then respond with, "Well, $110k is a bit closer, but still lower than I expected."
You still haven't anchored.
You've now put the responsibility on your counterpart for meeting a number you haven't expressed yet.
The goal here is to get your counterpart to move their anchor as many times as possible until you must finally offer your number.
Even if they come back at $125k (above your target), then you finally anchor and say, "Well, I was really to land around $130k-$140k."
If you "settle" at $128k, then you just got $8k more than your target and they feel like they got a deal because they "saved" $2k from your range.
3. Move their anchor by asking questions.
Well-thought questions put you in the driver's seat.
And it's a lot easier to get the negotiated outcome you want when you're the one driving.
When you ask questions, it can cause your counterpart to feel the need to justify their position.
If they aren't completely confident in their position, this can cause them to move their anchor to cover the insecurity.
If they offer you $100k, you can ask, "Can you tell me how this compares with the local market for similar roles? Where I've been looking it's quite a bit higher."
Or "Is this considered a more junior role? I'm looking for a next step in my career, and I want to make sure we're on the same page."
All of this said...
You must adequately demonstrate the proper leverage in the conversation to be able to negotiate like this.
But when you do, it's VERY effective.
I'm not exaggerating when I say I negotiated a 90% discount on used gym equipment when my local gym closed down and he was looking for a home for the gym equipment he wanted to sell.
So to recap, anchor correctly, and move your counterpart's anchor as many times as possible by asking well-crafted questions.
That's it - good luck!
Ken Trent | B2B Negotiations retweeted
Two People Look At The Same Cup. But What They're Measuring May Be Completely Different.
One checks whether you have enough. The other checks whether they have more.
That tends to reveal how someone shows up.
A direct report running on fumes, a colleague who's overloaded, a business associate in a rough quarter. The people worth being around are the ones who notice. Not because it's in the job description. That's not what this is.
It's smaller than that. A check-in not tied to a deadline. A moment where someone actually listens, not just hears. Where they acknowledge what you're carrying.
People need to feel seen. Not complimented. Just acknowledged. "I hear you" is underrated. It changes the temperature of a room, a negotiation, a working relationship.
Caring beyond the role is how you build something that lasts.
#Leadership #Management #People
Two People Look At The Same Cup. But What They're Measuring May Be Completely Different.
One checks whether you have enough. The other checks whether they have more.
That tends to reveal how someone shows up.
A direct report running on fumes, a colleague who's overloaded, a business associate in a rough quarter. The people worth being around are the ones who notice. Not because it's in the job description. That's not what this is.
It's smaller than that. A check-in not tied to a deadline. A moment where someone actually listens, not just hears. Where they acknowledge what you're carrying.
People need to feel seen. Not complimented. Just acknowledged. "I hear you" is underrated. It changes the temperature of a room, a negotiation, a working relationship.
Caring beyond the role is how you build something that lasts.
#Leadership #Management #People
Join 400+ negotiators. Subscribe for free here: brief.negotiationsacademy.co…
Your Price Doesn't Need To Adjust To Land More Sales.
In B2B negotiations, it can be easy to get caught up in haggling on price.
But haggling is something you do when you're buying a watch from a street vendor.
It's not what you do when multi-million dollar deals are on the line.
Yes, negotiating price is common - but not haggling.
And if you handle the negotiation well, you can protect your price if your counterpart starts putting pressure there.
#Negotiations #B2B #Sales
Great Businesses Operate On Simple Principles.
What is it that your business does better than any of your competitors?
And how do you position that strength in your messaging to clients?
These two questions alone can help to clarify your Ideal Client Profile (ICP), the specific problem you're trying to solve, and your messaging on how you solve it.
But you have to get crystal clear in that messaging, or no one is going to want to hand over their money to you.
If you're looking to start a business, make sure you nail these 2 points before anything else.
B2B marketing is hard.
It gets harder when you don't have a good closing process.
And it gets even harder when you don't know how to negotiate to close more deals.
All too often Sales is a volume game.
Get in front of 100 people.
Get 10 on a call.
Close 1.
That's an expensive game.
But what if you could close 2 or 3 just by being willing to negotiate a little bit?
And you don't even have to negotiate on price. You can negotiate on other things, like a payment plan, or the scope of work to be completed.
For example, instead of shaving $500 on your price, what if you add $500 "worth" of extra services?
These points of flexibility can increase your close rates in meaningful ways.
Because when your potential client sees you trying to make the deal work, there is a psychological tailwind that works in your favor.
Your prospect starts to believe that you are working within specific guardrails, but that you're doing everything you can to give them what they want.
And this can open doors with clients that might otherwise walk.
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When I worked at Amazon, we often talked about opportunities to 'surprise and delight' our customers.
I recall a colleague of mine who had started in Customer Service.
He recounted a story where he was able to go above and beyond to 'surprise and delight' a customer.
The customer was looking for a Tickle Me Elmo toy in the weeks leading up to Christmas. These toys were incredibly hard to find anywhere.
This customer had placed an order for the Tickle Me Elmo toy that was later cancelled (due to inventory shortages).
My colleague literally drove across town to a Toys R Us where he found the Tickle Me Elmo toy, bought it, then shipped it to this customer on behalf of Amazon to fulfill the order.
Regardless of what you think about how reasonable (or not) this act was, I can guarantee you that this customer became an Amazon customer for life.
This is the kind of behavior that drives retention.
And when things go sideways, and your customer wants to cancel your services, you can always end things respectfully and maintain good will for a potential reactivation down the road.
Join 400+ negotiators. Subcribe for free here: brief.negotiationsacademy.co…
If you're not managing customer expectations, they'll never be satisfied.
It start with Sales. It continues through Onboarding. And it remains critical during every weekly call, every quarterly business review, and every top-to-top.
Your customers need to know the value they're getting for the money they're spending.
They need to know your capabilities, your superpowers, and where the scope of your work stops.
When these points are clear, and they can measure their ROI against your deliverables, then you have a recipe for a happy customer.
That's where real "Customer Success" is made.
Because when your customers are successful, then you can't help but be successful yourself.
And that's a clear path to growth that many businesses overlook.
#Business #Leadership #CustomerSuccess
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Some people are just doing life right.
5 years ago, a 13 year old girl came to our home with a flyer for babysitting.
She was going door to door. She made a logo that said "Babysitting Service". She had her CPR and child care certifications with her to demonstrate she could handle it.
Said she was saving up to buy a car...she didn't come from money. Her mother is blind, and she is often relied upon to care for her family. She does a lot of the cooking, as I understand it.
So, we gave her a shot. First time she babysat for us, she showed up early. Her brother dropped her off, which I thought was nice. I found out later that he made her give him one hour of her wage for being her ride.
When we found out, we decided to pay her $20/hour to make up for it. She was good with the boys.
She babysat my first born son from age 2 until today. She was there when my second son was born.
It has been 5 years now and she has probably babysat for us 50 times. Maybe more.
We started giving her Christmas bonuses a few years ago. Couple hundred bucks. She cried.
Last year, she bought her very own car. A used Buick.
(I helped her get a PPI done, as she was about to buy a clunker off of Facebook Marketplace.)
Now she's working two jobs - one at a restaurant and, of course, babysitting. While her friends are out partying, she's working to save up for college.
She's right on track. She plans to be a nurse...and she is saving enough money to avoid college debt.
Every time I get a little discouraged about the state of the world, I think of her and my mood lightens.
Ok, who is switching fork/knife hand positions when eating a steak?
Madness.
An innocent question from a Japanese person about American dining etiquette: 🍴
Why do you switch your fork back and forth between your hands thirty times during a single steak?
You cut with the knife in your right hand.
Then you put the knife down.
You transfer the fork to your right hand.
You take a bite.
Then you switch the fork back to your left, pick up the knife, and cut again.
Is this a tactical military exercise to keep both arms ambidextrous in case of an ambush, or is there another reason?
I've negotiated hundreds of 7+ figure deals.
And I always go back to this: We work with people, not businesses.
Sometimes people make irrational decisions.
Sometimes people's emotions get the better of them.
And sometimes people are just having a bad day.
Yes, this can sometimes affect your business in negative ways.
So what do we do?
Perhaps the best advice I can give is to follow the Dog Whisperer, Cesar Millan.
In dog training, he advocates for a "calm, assertive" energy.
I've found this works wonders in business relationships.
Be calm. And be assertive. Others will recognize that energy as a stabilizer in their challenging times, and they'll follow your lead.
Which will open many doors for you in your business dealings.
In addition to business insights, I write about B2B Negotiations weekly. Subscribe for free here: brief.negotiationsacademy.co…
What's a goal you're working on that will take longer than 6 months to reach?
How are you doing with it?
Today I finally reached a goal I set 2 years ago.
315lbs on the bench press.
Psychologically, this was a hurculean effort for me.
I'd never benched 315lbs before, ever.
But today I did it for the first time.
And I pushed 3 reps.
As it turns out, I was physically ready months ago.
But I had to be ready psychologically.
(I'm an old man now, and I have to think about injuries, after all)
But my takeaway here is that often we are actually ready long before we think we are.
Whatever your goal is, It's probably fine to just go for it.
"Founder Hell" - it's what happens when the founder is frantically trying to keep the business going, while watching it crumble all around them.
And they don't even realize that they're the problem.
It happens for a simple reason: in the early days of the business, if the founder didn't do it, it didn't get done.
For many, it's a simple survival mechanism.
But it can also run the founder ragged.
And the hardest realization can be coming to understand that building a great team is a very different skillset than keeping the wheels turning.
But building a great team - a team that is empowered to do outstanding work, owns their lane, and pushes with the same passion as the founder - and enabling those teams with impactful systems is what it takes to actually start scaling your business.
Because when you build a great team who operates with a great system, things start happening without you that produce results you never could on your own.
And that's where the magic starts to happen.
But you have to get out of "Founder Hell" first.
And if you can't do it yourself, then you need to pull someone in who can help you do it.
I also write weekly about B2B Negotiations. Subscribe for free here: brief.negotiationsacademy.co…