I’ve been doing deals for a while now. And knowing how to negotiate is a MUST if you want to deals of any sort.

I remember, I used to read up a lot on this topic…listening to audio training series…reading up on whatever materials I can find…and the likes

For me, I think negotiating need not be too complex.

Here are some of the negotiating rules I live by:

1. Be Fully Prepared

When I do a deal, I immense myself into all critical aspects of it. I do my due diligence. The ins and the outs of it.

As they say – fail to prepare and prepare to fail. I never over-prepare though. I just do enough and get on with it. If not, no deals will ever get done!

2. Ask For More If You Can Help It

I never accept any offers the first time round. I always ask for more. Why? Because if I ask for more…there’s a chance that I might get it.

If I don’t ask…I know there’s a 100% chance I WON’T get it.

3. Think Win-Win

I always work towards a good win-win for people I do deal with. If it’s fair, and both sides are happy…I’m happy to conclude the deal fast.

It doesn’t has to be a zero-sum game. Everyone can win and make some money. Most importantly, it’s the long term relationship I’m looking at.

4. Be Prepared To Walk Away

If I think the other party is not sincere…not interested in reaching a fair deal for all…or lacking trust in me…I will just walk away.

No point wasting any further time.

There’s always another deal to be made out there.

Do you have any of your negotiating rules you abide by? I want to hear it…

Jag Foo

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Last week, I talk about the effectiveness of the good cop, bad cop routine as a negotiation technique.

Now, let’s change perspective a little here, shall we?

Let’s say…now you are not the one that is using this technique. But instead, you are the one on the receiving end of this.

How would you react? Remember I mentioned that, sometimes even when one knows that the technique is being used on him – he still ends up falling for it?

With your permission, I will explain to you a 2 sneaky but yet very simple tricks on how to turn the table on those who dare mess with you. Some nerve!

Turn The Table Trick No. 1

Embarrass them. Say, "You guys are not gonna play the good cop, bad cop on me, aren’t you? I’m about to burst out in laughter now…"

That shall land some rotten eggs on their face! Eat that, bonehead!

Turn The Table Trick.  No. 2

Tell the good cop, that whatever the bad cop says, you are going to attribute that to him as well.

So now both are bad! And the ‘good cop, bad cop’ routine loses it effectiveness.

See how easy it is to turn the table?

Now go. Try it when someone tries to make a mockery out of you.

You will be secretly smiling to yourself…

As usual, let me know your comments. I’m all ears!

All Success,

P.S I just launched my premium software sections. It’s filled with powerful software and tools you can use to give your online business a serious boost!

P.P.S If you have not joined my membership yet…why not? It’s free. And did I mentioned the loads of testimonials I’m getting for the bonus reports I’m making available there? Join NOW!

[tags]E-MoneyMarketing, persuasion, negotiation, sales techniques, online marketing[/tags]

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If you are ever in a situation whereby you have to negotiate with someone, and you find yourself without much progress, you may want to employ the tried-and-tested technique – the good cop, bad cop routine.

I know. I know. You often see these in the movies.

But you know, it is widely shown for a reason. Not just because it is a classic technique. Not just because it is widely-used. Beyond that – it just flat out works.

Believe it or not, even those who know the trick is being used on them, they still fall for it. Yep, it’s that powerful.

For those who are not in the know, here’s how it works.

Say you are in a negotiation situation, and you want to break the deadlock.

You team up with another person. Someone will have to play the ‘good’ cop role, with the other the ‘bad’ cop role.

The bad cop will play the tough-ass bastard who refuses to give an inch and plays hard ball. The good cop, on the other hand, will play the nice guy. Who tries to pacify and makes some concessions.

In that way, the other party, when faced with a situation of a good cop and bad copy gang-up, will be more inclined to talk things out with the good cop since he is easier to deal with. Who is also supposedly, more empathetic and understanding.

Sometimes, for added effect, the good cop may play a threat by saying, if the other party doesn’t agree with him now, the bad cop will take over from him and the other party will get a much harder time…and possible a lousier deal.

Forcing the other party to come to a conclusion quickly.

This works extremely well for many situations. Such as getting prisoners-of-war or criminals to reveal sensitive information. Or getting someone to sign a lucrative deal.

Try it.

I have. And I know just how well it works. As usual, let me know your thoughts on this? Have you tried it before? I’m all ears.

All Success,

[tags]E-MoneyMarketing, persuasion, negotiation, sales techniques, online marketing[/tags]

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When you are negotiating, things may get tricky pretty fast when your opposite party tries to play hard ball with you.

Not to worry.

What I’m going to reveal to you is a good method you can use to turn things around – fast!

Negotiators call this the ‘decoy‘ method. What in the blue hell is that?

Let me explain…

Say, you and the other guy is haggling over a profit sharing cut. You want to outsource a deal to him. He wants a 70% cut from the total revenue . You are only prepared to give him 50%.

So the profit sharing cut is the crucial factor here. If that is a major issue with him, you may not want to keep talking about it. At least temporarily. Because that may be likely to get you nowhere. So what do you do next?

Invent A Totally New Issue!

Yep. Cook up a new story. Throw a smoke bomb. Anything. Just divert his attention away from the real issue.

Tell him that he has to compete with 5 other rival outsource agencies. The one that gives you the most competitive rates will get your nod for the outsource deal.

Of course he is gonna be outraged and tell you that he is the real deal. He will do the best job. And you can’t go wrong with him.

Perfect. He bit the bait…

Now tell him, you are willing to give him the deal without him having to compete with other agencies PROVIDED he accept your 50% cut proposition.

It is gonna be difficult for him to refuse you because if he competes with others, he may end up having to offer a lower cut than what your proposed or worse, even lose the deal.

So chances he is going to accept your offer is now much much higher.

Of course on your side, the issue of asking him to compete with other agencies is just nothing but a distraction. You know that it is something he is not gonna agree to anyway. But you still come out with it nevertheless.

You then just do a trade off using this ‘fake’ issue with the real one that is important to you – the revenue cut.

That’s it. Simple yet effective negotiation technique.

As usual, let me know what you think about this. I can’t wait.

All Success,

[tags]E-MoneyMarketing, business, negotiation, decoy[/tags]

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Have you ever negotiate with someone who is a touch nut to crack?

One who makes you feel like spouting out words that will make even your mum blush in embarrassment?

And giving him a beating of his lifetime?

I’m sure we all have. Everyday we are all negotiating. It’s just a matter of whether you make him see your point of view or he makes you see his.

Today, I’m going to reveal to you a simple negotiating trick. Perhaps you may even have done it before yourself, but you may not have realized it.

Okay. Say you are negotiating with someone, and you present an offer.

An offer you think is reasonable. For example, you offer to sell your car at $50,000.

And the person wants to bargain further. He wants to buy it at $45,000.

What do you do?

Use The Withdrawn Offer Method!

What is it? Let me explain.

You tell him you will think over what he said carefully and you will get back to him. Remember, refrain from screwing him even if you really feel like it!

So you go back and wait a few days. And call him again.

Tell him, “I know I mentioned I offered to sell you at $50,000 for the car. I’m sorry. I think I make a mistake somewhere. I re-looked the value and I think it is worth far more than that.

I can only offer you at $65,000. The minimum!”

And he will say, “WHAT!!!!!!!!”

“$65 THOUSANNNNNNNDS!!! But You said $50,000!”

And there you go. He will forget about his asking price of $45,000, and wants to get your car at your price – $50,000.

So you say okay. But not after engaging in some play acting about not being able to.

After some time, you can quit teasing his balls and ‘pretend’ to give in. You can say that for him, you will make an exception. You will bend back and offer him at $50,000. A great bargain! ONLY for him. Because you like him.

That’s it!

You get what you want. And you make him feel happy while at it.

Little did he know you have just played him around like a little doll.

Think about what I just told you – the withdrawn offer method. And use it! It’s very powerful.

As usual, let me hear what you think about this.

All Success,

[tags]E-MoneyMarketing, business, negotiating, withdrawn offer, persuasion[/tags]

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Happy greetings to all! 2008 is finally here. A successful and glorious year awaits you!

Are you revved up already?

I had a blast ushering the new year! I hope yours was just as good, if not better!

Today, I want to talk about an event I encountered when I went for a short getaway break with my friends to Kuala Lumpur, Malaysia, 5 days ago.

What I’m about to reveal to you soon ties in with some of the persuasion techniques I wrote about recently.

As you can guess from the title, it revolves around an affair concerning me, my friends and a certain cab driver.

Wanna hear more? Read on…

Warning: It is gonna be a long entry but an interesting one… That I assure you…

This is what happened…

Over the weekend, I went up to Kuala Lumpur with 3 friends. There was the four of us – 2 guys, 2 gals. We wanted a good refreshing break after a whole hard year of work! And we certainly got it in Malaysia!

On our second day of the getaway, we decided to go up to Genting Highland – a popular holiday haunt in Malaysia. Genting Highland is famed for it’s cool air, huge theme park and casino.

I was pretty excited because it was going to be my very first time up there. But first, we had to settle how to get there from our hotel. We decided on a cab.

Through the hotel’s concierge, we got a cab to bring us on a one way trip up for 110 Ringgit (Malaysian currency/RM).

Initially the concierge’s staff wanted to offer us a two way package with the returning trip at the same price – 110RM.

But we decided against it as we knew we could return back at a cheaper rate.

So that was it. We got into the cab. And the cab driver greeted us warmly.

As we moved off and got into our journey to the highlands, we engaged in a little banter with the driver. He asked us where we are from, and we told him we are from Singapore.

And he proceeded to talk about how Genting was like, and how treacherous the journey up can be (visitors have to travel up a 60 KM long winding road and many accidents have taken place along there before due to the numerous steep and sharp corners).

He went on to explain to he was working for the hotel. And he confided to us that he only received a cut of the 110 RM we paid for, as hotel takes in a commission.

He asked us how we are coming back. And that’s when we knew it. He wanted to take us back. We are fine with going back with him. He is a pretty funny guy and we enjoyed the initial conversation we had.

The question now is – how much? He offered to fetch us back – at the same price we paid for the trip up. We are certainly not intending to pay 110RM again.

The Negotiation Has Begun!

I told the driver that we can’t really pay 110 RM, because we will also pay the same price if we had gotten through the concierge.

Why do we have to take his offer and not the concierge I asked? Both are the same. But we had the freedom of choice. So give us a better price, I said!

Well, the cab driver was adamant that 110RM was a fair price. He told us the journey up was a very long one (it was about 200+ KM).

And that he will have to wait for us up there as it makes no sense for him to return to the hotel and go back up again.

In the meantime, he needed to cover his cost during the waiting period.

That seems fair. But I’m not having it. There were many other cabbies out there who wanted our business. We could have easily gotten a better price elsewhere.

Furthermore, if we are going to pay 110RM, we might as well get through the concierge.

We wanted to go back at a cheaper rate and we will get it.

Enter The Charm Offensive

I sidestepped his questions. And I tapped him on his shoulder and asked him. “Brother, may I know your good name?”

The cab driver turned back from his wheel to me and replied, “My name is Sartiah (not exactly sure if this is the correct spelling).”

“That’s a very nice name, Sartiah!” I remarked.

Those were like magic to his ears.

He eyes literally widen and lit up. He smiled happily and thank me profusely.

My cheeky friend then butted in, “So, got discount?” And we all laughed.

Round 1 to us.

Sartiah is an ethnic Indian, so I talked about how I love Indian food like Vadeh, Thosai and Chapati. In fact, we even ate Roti Canai (popular Indian pastry) in the morning, as I revealed to him.

He was visibly happy and relaxed as we continue cracking a lot of jokes. We talked about the magnificent Batu Caves where some beautiful statues of Indian Gods are housed.

And the recent ‘Hindraf’ issue whereby many ethnic Indians were protesting against their marginalization in the Malay-dominated country.

We let him know that we empathize with him and his feelings, as he proceeded to told us about the fair rights Indian should get for all their contributions to the country over the last century.

He talked passionately about this. We listened. And we nodded along. To show him we care.

He has opened up to us. He was talking more than us. A good sign.

Round 2 to us.

That’s it! I’m going in. For the kill. And at the price we want.

Me: “Sartiah, I believe you want to make money right?”

Sartiah: “Yes, of course!”

Me: “You know we trust you right?”

Sartiah: “Yeah you can. If I want to cheat you, you can go back to hotel and complain. You can find me there. I can’t run away.”

Me: “No worries, Sartiah. Nobody is going to complain. We like you. We have many options actually. We can take bus.

We can take the many other cabs down there.

Or we can even arrange for our relatives to come down (my friend really has an uncle living in KL) to fetch us.

But NO!

Sartiah. We want to go back with you. Because we trust you.”

Sartiah: “Thank you. You can trust me.”

Me: “You trust me?”

Sartiah: “Yes. We trust each other!”

Me: “Great. How about 50 RM for the return trip?”

Sartiah (widening his eyes in mock horror): “Nooo. That’s too little, my friend. 110 RM is good for me.”

Me: “Sartiah. All right then. 70.”

Sartiah: “No. Cannot. 110RM. To you, Singaporean, a few RM is nothing. Singapore currency is so big (Our currency is about 2.31 times of Ringgit). We convert from Ringgit to Singapore currency, we get only so little!”

Me: “That’s true. That’s fair. But money is still money. We can use the small change to buy more Roti Canai!”

We all laughed again.

Sartiah: “Brother, you are a funny guy!”

Me: “You too, Sartiah. Okay. Let’s make a deal.

For you, I give you 70RM.

I can take other cabs. Or other options like bus. But Sartiah, YOU are our FIRST choice. We going with you. You fine with that?”

Sartiah: “Thank you, my friend. 110RM still best for me. I can’t go lower.”

Me: “Of course you can. Alright Sartiah. As I said, I trust you. We trust you. Now we give you best price. 90RM. That’s as far we can go.”

Sartiah ponders…

Me: “Sartiah. Look. 90RM is good money.

We can get through hotel who is gonna charge the same price as you. The hotel will then go through you.

But you will not get 110RM. You will not even get 70RM. Because they will eat into your price as their commission.

Now I promise you. I will not get through the hotel. I will get through you. You only. You keep all the money.

You okay with that?”

Sartiah silently nodded and listened on…

Me: “Either way, you are going to earn more through us. Because we promised to get through you – not through the hotel.

You see. We are already giving in. We start with 50 – the initial price we were willing to pay.

But now we are giving you 40RM more. You only need to give in 20RM (from 110RM). That’s good business for you right?

Sartiah continues nodding…

Me: So I tell you what. Let me summed up our offer.

1. We get through you. Not the hotel.

2. We pay you 90RM. And you will get 100% of it. Everything. That’s more than what you can get through the hotel if we can go direct to them.

3. Tomorrow, we are making our way around KL. Will you like more business? We can take your cab.

So think about it. This is not a one time thing. It’s more that that.

Why do we do so? Because we trust you, Sartiah.

What do you think, Sartiah?”

Sartiah nodded yet again. And I changed topic as we are nearing our destination.

So we went on to talk about Chinese and Indian temples. And how Chinese and Indians share certain common traits in certain ways.

And I jokingly told him my Indian name is Sundram while my friend’s is Gopal (for the record, we are all Chinese, just in case for you don’t know). There were lots of laughter that ensured…

10 minutes later, we finally reached our destination. Genting Highlands. We paid him the cab fare for the journey up.

Before I alighted, Sartiah said to me, “So Sundram. What time you want me to pick you guys up?”

I smiled, “7 45 pm. So 90RM?”

Sartiah, “For you only, my friend. 90RM!”

We shook hands.

Sartiah parting shot to me, “You enjoy with the 2 gals. I enjoy with my taxi. I’ll see you guys later.”

We all laughed. Again.

Persuasion Lessons We Can Learn From This Episode

1. Bonding.

One of the major reason why we were able to persuade Sartiah is because we set out to make him feel comfortable.

We utilize humor – a very powerful weapon to break the ice. It helped that Sartiah himself is a very funny fellow.

We were able to crack jokes, and we laughed often. That does a lot in creating a bonding between us and Sartiah.

When a bond is being forged, he is more willing to listen to our point of view.

Of course it worked towards our favor that we gave ourselves fake Indian names. Fancy 2 Chinese boys named Sundram and Gopal. It was hilarious. And Sartiah knew it but gamely played along.

2. Trust

There was also an element of trust between us. Why? Because we keep emphasizing our common ground.

He wants to make money.

We want to reach our destination.

We need each other. Might as well work together to reach a win-win solution.

We also showed a lot of empathy about the plight of Indians in Malaysia. It’s the same when we talk about the Indian temples and the fact we created fake Indian names for ourselves to make him feel comfortable.

He appreciates that we do have some understanding of the Indians in Malaysia as well as their culture.

3. Principle of Consistency

We made him agree to the following points:

• We are all on the same side…
• He wants to make money…
• We want to reach our destination.
• He earns more if we go through him than the hotel…
• He stands to earn more because we propose giving him business by taking his cab the next day which is our last day of travel in Malaysia…

He either said yes or nodded to all of them.

When we made our final offer, it was hard for him to say NO. Because he has been too used to saying ‘YES’ in our favor.

It became uncomfortable for him to suddenly change his stance.

That my friend, is the power of consistency!

4. Principle of Reciprocity

We did give him some concessions on our part, and he too felt inclined to do so as well.

Give and you shall receive.

5. Focus On Benefits to Him

We did not talk about how much we can save. But rather how much he stands to gain.

We also created the impression that we gave in more when we increased our offer from 50RM to 90RM.

Truth be told, it was my plan to start from one end of the spectrum. 50RM seems like a good figure because we had a lot of room to play with in terms of reaching towards a middle ground.

6. Win-win

In all negotiations, to reach an outcome that is satisfactory to both sides, it MUST be a win-win scenario. No two ways about it.

When Sartiah recognized we wanted him to win as well, it went a long way in making him see things our way.

Okay! There you go! A story of persuasion – a true story! Have you been in any similar circumstances? Do you identify with some of the techniques being discussed here?

Let’s discuss….!

[tags]persuasion, negotiating, e-moneymarketing, marketing, business, clinch the deal[/tags]

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