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