Im collecting a “best of” set of advice from others regarding important business topics and a quick description provided by me.
Negotiating
- Always have more points to discuss than the other side. Meaning, the more points you have, the more you can compromise on the less important points. – James Altucher
- Have a mathematical formula. Come up with a reasonably bullet proof argument based on numbers to get someone to say yes, and do it as early as possible – people remember it. If required, you can always send spreadsheets later. – James Altucher
- Act stupid and defer to the experts. If you aren’t able to sell someone on the basics, don’t struggle. Defer to someone on your team who is an expert. This can buy you time. Also, you don’t leave a lasting impression that you were wrong. – James Altucher
- Have alternatives going in. Im not going to credit this to anyone except myself, though many will claim it because many experience it. If you go into a negotiation without the other side knowing you have alternatives, you then are at the shark’s mercy. Have the ability to say no and ability to move on. – Lynn Fredricks