“In life, you don’t get what’s fair, you get what you negotiate.” This powerful phrase applies to business deals, personal goals, and everything in between. Today, with those words in mind, I decided to share all the effective negotiation strategies you need to succeed…
If there’s anything I’ve learned in decades of sales, business, and real estate investing, it’s how to negotiate.
And trust me when I say the real-world negotiation process is NOT something they teach you in business school…
If you want to unlock master-level negotiation skills, you need hardcore training on the daily.
Scripts. Role-play. Drills. The whole nine yards.
Why Is It So Important to Have Good Negotiation Skills?
No matter how you slice it, life is a series of negotiations. Almost every major transaction you make on this planet will be one.
Take a moment to really think about all the times you’ve had to buy, sell, or convince someone about something:
- Getting a mortgage
- Making an investment
- Hiring a new employee
- Getting a job or a promotion
- Leasing a car
The list can go on forever…
Bottom line is that every dealmaking scenario requires strong negotiation skills.
Anyway, right before I jump into my techniques, there’s something I need you to understand…
In sales, business, and life, the nice guys don’t win.
Best service doesn’t win.
Lowest price doesn’t win…
THE BEST NEGOTIATORS WILL BE THE WINNERS.
Now, let’s dive in.
My Top 6 Successful Negotiation Tactics to Close More Deals
Over the years, I’ve built an arsenal of negotiation strategies.
Depending on the deal I’m doing, I’ll leverage at least one of the tactics I’m about to share with you…
And I advise you to do the same.
That is, if you want to close more deals.
1. The One Thing Negotiation
First of all, every deal comes down to four things… out of which only one thing matters.
And in 35+ years of negotiations, I’ve never found an exception to this rule.
Let me start with the four things — the objections — you could be dealing with:
Now, your job is to get to the ONE that’s stopping your prospect from signing the contract.
As you put this into practice, you’ll start to notice the client won’t give you “the one thing” the first time around. In fact, they’ll often throw the red herring and give you something completely different.
For example, a customer could tell you the product is the problem, when in reality, it’s the money.
Here’s where you come in, untangling the mess until you uncover the truth.
It’s all a matter of asking something straightforward yet powerful:
“What’s the one thing holding you up right now? The one thing that — if I fixed it right this second — you’d be all in?”
Now, the customer is going to start spilling out a laundry list of reasons… Reel them back tactfully and double down on the one thing and the one thing only. Repeat until you get it.
Once you have the real issue, solve it for them.
2. White Flag Negotiation
When you think of a white flag, what comes to mind?
And that’s exactly what you want to do for a great negotiation outcome.
I’ll put this into perspective for you with an example in which you’re the potential buyer.
Let’s say you want to do a deal where the seller is asking for $500,000. It could be a piece of real estate, a business, or whatever other cash-flowing asset you’re interested in.
In any case, this person is sticking to their guns with that $500K price tag…
And what you want to do is say you’re good with it.
Go ahead and offer the asking price… but ask them to take care of a few things.
If it’s a real estate deal, your additional needs for this property could include:
- Kitchen remodeling — $30,000
- Landscaping — $10,000
- Upgraded HVAC system — $20,000
- Roof repairs — $40,000
That’s an extra hundred grand!
Next, use the list as leverage for counteroffers. Provide a few options:
A) Say you’ll pay the $500K, but the seller takes care of the added $100K.
B) Alternatively, offer to take care of the items, which means you can do the $500K LESS the $100K.
C) Instead of “trying to find common ground,” go to ground zero, which I’ll tell you all about as a negotiation strategy of its own in a minute…
Anyway, to wrap up this white flag technique, you’ll see how it puts the seller in a very difficult position to say no to you.
3. Ground Zero Negotiation
Now for one of the most important negotiation tactics you can whip out… because it’ll help you when all else fails.
Let’s rewind to that $500K deal from earlier.
The last alternative would mean you don’t buy the property, they don’t make the sale, and any win-win situation goes out the window.
See how you’re bringing the seller to ground zero?
What you want to do next is infuse this additional tactic called role reversal. Your goal here is to hammer down on the cost repercussions of this person not doing the deal.
Step into the seller’s shoes and think of everything they could lose by not closing with you. Get specific, and list out as many realistic consequences as possible.
You see, it’s not about the initial numbers anymore. It could cost the guy 10X more by NOT doing business with you.
Top it all off with stress, fear, pain, frustration, and a bunch of other emotional expenses…
And the deal looks a hell of a lot better now, doesn’t it?
4. Back to the Future Negotiation
For this negotiation style to work, you need to be fully committed to the art of problem solving.
Let me explain…
This time around, I’ll flip the scenario to where you’re the seller. You’re up to your neck in this deal — but the client gets stuck. Hidden objections start coming up. The buyer can’t move on.
So, it’s up to you to make the move… back to the future.
Start by going way back to the reason you’re even trying to sell this customer.
What problem are you solving for them?
Then, take the prospect into the future. Show them how your solution will play out after they ink the deal with you.
If the prospect claims they don’t have a problem, remember this…
You wouldn’t be negotiating this whole time if they didn’t have an issue to fix by purchasing a product or service like yours.
In any case, deals don’t get done if a problem isn’t solved. It’s your job to paint a picture of that irresistible solution.
5. Inquisition Negotiation
You know what sets master negotiators apart from amateurs?
The ability and willingness to ask the hard questions. And when I say hard, I mean it.
For example, when I’m negotiating a deal, here are just a few of the hard-hitting questions I ask:
- Have you seen enough to make a decision?
- When was the last time you made a bad decision? How about a good one? What is the worst decision you’ve ever made in your life?
- Have you ever invested this much money? Why or why not?
- What’s the worst thing that can happen if you don’t do this? What about if you do?
- Why did you agree to see me now? To see me at all?
If you don’t ask these questions, you’ll just be strung along in the deal. Your negotiation won’t have any substance, and best believe the other person will take advantage of your ignorance.
In contrast, the more difficult questions you ask, the more confidence your client will have in you. You’re showing them you’re serious about doing business. You want to get to the core of the other party’s needs and dig out all the factors which could influence their buying decision.
While others drift through negotiations, be the professional who isn’t afraid of getting to yes by any means — and any inquisitions.
6. Genghis Khan Negotiation
Finally, it’s time to let you in on one of my favorite negotiation strategies of all.
I’m talking about the Genghis Khan negotiation, which gets its name from a brutal conqueror for a good reason…
You have to be a BEAST.
Go all in. Stand your ground. And smash the deal out of the park and into a hard close.
Here’s how this plays out in a business negotiation…
At this point, you’ve progressed so far in the timeline of the deal. You’re at the final window, right before the finish line. The contract is one step away from signing…
When your buyer asks for more time.
Instead of transacting within the three-day window you both agreed on, suddenly — for one reason or another — they want another week.
Shut the deal down. Close the window… or you’re done.
No extensions, no exceptions, no deal.
You see, at this stage in the negotiation, you have the upper hand. You’ve put in the work to get this far in the timeline.
Now, you’re in full control. You can walk away at any time. Do what Genghis Khan would do — and dominate the deal.
I know this negotiation style is ruthless. And it may not be for everyone.
But know this…
If you don’t use this tactic, it will be used against you.
Next Up: How Can You 10X Your Negotiation Strategies?
Today, I revealed a fraction of what it takes to become a master negotiator…
If you start using these strategies in real life, you’ll already have a massive advantage in business deals.
However, becoming a consistent closer takes a lot more than putting a couple tactics to work.
That’s where advanced negotiation training comes in, like the hundreds of intensive programs I have on Cardone University.
As I mentioned at the beginning of this article, you need to train every day with a combination of negotiation strategies. Absorb all the information you can, then put it into practice with extensive role-playing.
All in all, if you’re looking for a shortcut to negotiation mastery, you ain’t gonna get it.
The only way to dominate in business — and in life, for that matter — is to take massive action.
And be Great,
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