{"id":42,"date":"2017-10-21T00:13:23","date_gmt":"2017-10-21T00:13:23","guid":{"rendered":"https:\/\/medium.com\/@arthamoney\/art-of-deal-9e7e4beffd2c"},"modified":"2017-10-21T00:13:23","modified_gmt":"2017-10-21T00:13:23","slug":"art-of-deal","status":"publish","type":"post","link":"https:\/\/madrasrealty.com\/?p=42","title":{"rendered":"Art of DEAL!"},"content":{"rendered":"
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Would you like to pay less for everything you buy? Sometimes It is as simple as asking. If you have never bargained in your life, if you feel that it is low class or difficult or cheap, get over it. Bargaining is a way of life in every country in the world and in the corridors of power. Here is a primer to get you started.<\/p>

Respect the seller.<\/p><\/blockquote>

Warmth, gentle humor and humility can be powerful weapons. Even when you lose, you win because you can deal with that person again. All business takes place in an atmosphere of mutual benefit. If you want to succeed, determine what you can offer the other person and what his benefit is. If you offer nothing, why should he waste his time? Unsuccessful bargainers make offers that can be dismissed out of hand.<\/p>

Avoid the deal-killing: \u201cI\u2019ll give you.\u201d<\/p><\/blockquote>

You are making an offer. You aren\u2019t giving him anything. Instead say.<\/p>

Would you take? Give me your best price, is that your best price, can you do better?<\/p><\/blockquote>

Keep it light to avoid offense. Be aggressive, but never abusive. A famous story tells of an artist selling three magnificent paintings. He offers the three to the patron who responds with a demeaning offer. The artist destroys a painting.<\/p>

He then re-offers the remaining two at the same price. After receiving another low-ball offer, the artist destroys the second painting. The patron buys the third painting at the original price for all three.<\/p>

Offending a seller is deadly.<\/p><\/blockquote>

People will cut off their nose to spite their face rather than let an idiot take advantage. Want a discount? Ask!<\/p>

No one likes or will deal with a condescending jerk.<\/p><\/blockquote>

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Many small stores are wiling to lower prices to make a quick sale. To do this, find a smaller store managed by the owner. Make an offer out of earshot of other customers.<\/p>

  • It costs nothing to ask. Ask for a lower price for multiple purchases, especially if you are dealing with items that have hung around the store a while.<\/li>
  • Buy an oddly-colored item if you can match it to other things you own. The merchant benefits by making room for more attractive or seasonally-appropriate merchandise. Always remember that buyers and sellers don\u2019t put the same value on the same things.<\/li>
  • Win by getting the merchant to give you something of value to you that costs him little. When buying an expensive item, ask for something extra such as a free alteration or an extra pair of pants with a suit.<\/li><\/ul>

    Tactfully point out small damages if you can easily fix them. Is it missing a button? Perhaps the merchant has a ware button that you can sew on. If the hem is down, it can be basted or secured with hem tape and a hot iron. A dented or scratched appliance may look fine sandwiched near a wall or other appliance that hides the mark. The customer who dramatically points out the defect or complains about the quality of the item will be told.<\/p>

    Discretion\u2019s essential. If it\u2019s so terrible, why do you want it?<\/p><\/blockquote>

    Increase Your Influence: Bargain and Get Positive Results<\/h4>

    Bargaining takes place among people each day. Heated discussions occur In the boardroom, at home in front of the TV, and Just about anywhere else where more than one person is present. You need to be adept at negotiation to get your way.<\/p>

    Forget threats<\/h4>

    Studies show threats contribute to adverse outcomes when haggling. Nonetheless, plenty of people make the mistake of assuming they will win arguments if they use intimidation. Bullying behavior, where you tell people they must do as you will, or you will make sure they pay, alienate you from them and keep you from success.<\/p>

    Many people apply pressure when attempting to get others to do their bidding. You night not think you use strong-arm tactics when trying to secure a deal, but the chances are, you do so without recognizing your behavior.<\/p>

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    For many people, negotiating is an awkward and difficult thing to attempt but it doesn\u2019t have to be. A lot of negotiating is mental and you need to get yourself in the right psychological space to make the most of it.<\/p>

    There are a few things to keep In the back of your mind before you begin negotiating and while you\u2019re In the midst of it. Remember that if you don\u2019t ask, you can\u2019t receive and that\u2019s the basis of negotiating.<\/p>

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    For most people negotiating means engaging in head games, each side trying to get the upper hand while leaving the loser frustrated and angry at the outcome. Arm twisting, threats and bribes don\u2019t work in today\u2019s world.<\/p>

    Send a Synopsis to the Other Party.<\/h4>

    The purpose is to clarify the major points of contention as you understand them to be. Sending a fa; email or letter does three things that shows respect for the other party, his feelings and his time. It demonstrates your willingness to bargain in a good faith. Clarify the problem.<\/p>

    Set a Bottom Line Goal<\/h4>

    Everyone around the negotiating table wants to walk out with some agreement or concession. Bargaining is not a win-lose affair. You should have an Itinerary of what you are prepared to concede and what you hope to gain from the meeting. Of course there are some areas you absolutely cannot concede, but If you have communicated It with the other party in your synopsis, he is likely to understand your point. In any negotiation, you need to offer up some valuable Idea that appeals to the other party.<\/p>

    Walk Away<\/h4>

    Sometimes the other side is so unreasonable that it would be a waste of time to carry on the meeting. You can try to arrange a future meeting that may allow the other side time to reflect on their issues. Circumstances may change and make them more amenable to negotiating. However, if they are totally adamant on getting their way no matter what, terminate the meeting. Always end the meeting on a friendly note no matter what the outcome.<\/p>

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    Some people seem to have the knack for speaking well and keeping people\u2019s attention with their communications skills. However, most people have to develop these skills through training and practice, a great deal of practice.<\/p>

    Even people that have the natural ability to communicate well find that training and practice make them even more effective. Once you have reached a point where your communication skills are a real asset, take advantage of many ways to showcase these valuable skills as part of your career development strategy.<\/p>

    • A management position with staff allows you to develop strong employee relationships. Good communications with staff <\/strong>translate to good retention statistics and high productivity.<\/li>
    • Reaching middle management <\/strong>can be an opportunity for upward mobility or it can be a career dead end. Middle management positions require interactions with colleagues across the organization and upward to executive management.<\/li>
    • Go into sales<\/strong>. If you are outgoing and have great communication skills, look at sales positions where these skills are critical to career success. To a client you are the company; you are the product or service; the relationships you build make the difference.<\/li>
    • Find opportunities to speak in public. <\/strong>Public speaking is an important stage in career development and offers another opportunity to use excellent communications skills. You are considered an expert in the topic you address present like an expert.<\/li>
    • Go into negotiating. <\/strong>Negotiating is a very advanced way to use effective communications skills. There are many other elements to successful negotiating that make it an art as well as a skill, but communication skills are essential. These can be high pressure situation where every word counts.<\/li><\/ul>

      You have to be willing to ask for what you want but still be willing to walk away if you\u2019re not going to get it. Start from a place of power. <\/strong>Negotiating is done between two parties, each who want something. Instead of thinking about how much you want or need something, remember that the other side has that same pressure.<\/p>

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      Negotiations are a part of life, especially in business relationships. Negotiation techniques vary, and some can be downright hostile. But for productive partnerships, all parties involved can make the upfront decision to use a win-win process Success at work depends on positive interactions with coworkers, clients, managers and many other associates. In the midst of conflict where issues are not easily resolved, a structured negotiation session may be in order.<\/p>

      Follow the Leader<\/h4>

      Following along the lines of well-known leadership authority Dale Camegie\u2019s school of thought for win-win negotiations, success comes from well-planned key steps from preparation to dosing the deal. During the preparation step, key information is gathered regarding the needs of each side. In the bargaining phase, facts are organized and presented to persuade and influence the other side.<\/p>

      \u201cSpecial price, just for you, lady, one hundred rupees\u201d<\/p><\/blockquote>

      \u2026 Are you the type who meekly says \u201cOh, ok!\u201d<\/p><\/blockquote>

      or the type who quickly snaps \u201cFifty!\u201d ?<\/p><\/blockquote>

      This question separates the sheep from the goats In the world of open-air market bargaining. Most travelers feel uncomfortable, embarrassed, or even wicked dickering over the price of a few oranges, especially when the variation in price comes out to less than you\u2019d pay for one orange at home.<\/p>

      Luckily, there are few basic rules you can master, which won\u2019t make you Into a wizard bargainer (that takes practice) and won\u2019t make you love the wild, give-and-take atmosphere of the bazaar (that\u2019s a matter of personality and culture) but will help you get what you need and want with self-esteem and sanity intact<\/p>

      First of all, remember there is no \u201cright price\u201d. Lulled by printed price tags, most Americans think of \u201cprice\u201d as some kind of a formal standard, established by the \u201cmarket\u201d, which Is not a collection of stalls owned by competing sellers, but rather some abstraction that objectively governs their economic life. Thrown into a real market, the original reality from which the metaphor was coined, Americans feel at sea, buffeted by demands to conform to unclear rules.<\/p>

      Always be closing!<\/h4>
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