Fire and Knowledge

Tim Ferris has a great article on the art of negotiating. This is something I’ve never been good at — it’s an uncomfortable skill to learn, but it can definitely be worth it!

Here are his five basic principles, in order of use:

1. Negotiate just prior to the other side’s deadlines.
2. Make them negotiate against themselves.
3. Use a “flinch” whenever someone mentions their first discounted offer.
4. Increase value while lowering price.
5. Never be the ultimate decision maker.
6. Use intelligent “bracketing.”
7. Practice using the “firm offer.”