29 Jun Negotiation Tactics: Are You Leaving Money On the Table?
My friend Ashley Terradez is taking over the blog this week as he discusses negotiation tactics! Ashley works with Andrew Wommack Ministries and is currently working on releasing his new book, “Thorns, Barns and Oil Jars: The Tripod of Financial Prosperity.” Check out what he’s got to say!
Ever since I can remember, I have always liked to negotiate, or “haggle,” as I endearingly refer to it. Negotiating is something that most people shy away from. They either feel embarrassed or don’t want to be a cheap skate. But the fact is, if you are not negotiating, you are not being a good steward by maximizing your profits! We’ve all heard the phrases “flushing money down the toilet” or “throwing money out the window,” but how about “leaving money on the table”? Your money. Your profit. Gone! Who knows how much you could be losing every year by leaving it “on the table”?
Before we look at what good negotiation is, let’s look at what good negotiation is not. Here are three types of negotiators who use styles that we should never practice:
- The Squeezer: The Squeezer is somebody who squeezes the deal so tight that people cuss them out right after the deal has been made! We’ve all seen this ruthless style of negotiation that leaves a bad taste in the mouths of all involved—even the innocent bystanders! The Squeezer will squeeze and squeeze over the smallest of margins and make sure there’s only one winner: them! The squeezer believes that they should get the best deal at any cost. The reality is that this type of deal is never the best deal.
- The Advantage Taker: This negotiator pries on people who are in desperate situations. People often need to sell things at a discounted price if they are desperate. This is usually due to their lack of funds or lack of time. Taking advantage of a situation like this and playing on someone else’s desperate situation to your advantage is not good negotiation. Now let me be clear, I have made some of my best deals due to other people’s desperate situations. I have helped countless people by dealing with them quickly and with cleared funds, which has elevated their desperate situation. There is a huge difference between this and taking advantage. The Advantage Taker sees a desperate person and then leverages their desperation even more, knowing that the person has little to no choice other than to take the deal, however bad it is for them. People are always more important than money. People are the true riches, whether they are strangers or good friends: they are all valuable! How we treat others will always eventually come back to us, to either haunt us or reward us.
- The Liar: The Liar believes that lying or being “economical with the truth” is justified in order to get a deal. Negotiating by running down the item you are interested in is not good practice. Sure you can point out legitimate faults in an item, but if this is exaggerated and majored on, then it is not good. Hey, if it’s so bad, why are you wanting to buy it? The Bible puts it this way in Proverbs 20:14, “It is good for nothing,”[a] cries the buyer; But when he has gone his way, then he boasts.” The Liar has other tactics to his negotiating that are all too familiar. “I can only afford to pay X amount of money” or “I’m doing you favor taking this off your hands. it’s worthless.”
These are just three examples of how not to negotiate. Unfortunately, they are all too common and have given the act of negotiation a bad name!
If you would like to learn more about the art of negotiation and how to make extra money through buying and selling, then take a look at Ashley’s course, Trash To Treasure. You can learn more about Ashley at his website: click me!
Have you ever witnessed negative negotiation tactics? Have you fallen victim to the Squeezer, the Liar or the Advantage Taker? Let us know what happened: comment below and maybe you can save a fellow reader the same misery!
Next week we will be looking at good negotiating practices that will not only make you more money, but will truly benefit all parties involved!