1 00:00:00,080 --> 00:00:02,440 Speaker 1: Welcome to How the Money. I'm Joel and I in 2 00:00:02,600 --> 00:00:06,680 Speaker 1: that today we're discussing negotiation as a winning everyday tactic. 3 00:00:26,200 --> 00:00:30,400 Speaker 1: That's right, buddy, we are talking about negotiating negotiations. I 4 00:00:30,440 --> 00:00:32,720 Speaker 1: feel like, uh, like that's that's one of those words 5 00:00:32,720 --> 00:00:34,479 Speaker 1: that you hear. Okay, so it makes me think of 6 00:00:34,479 --> 00:00:37,360 Speaker 1: Princess Bride when he says, you keep using that word. 7 00:00:37,720 --> 00:00:40,080 Speaker 1: It does not mean what you think it means. And 8 00:00:40,720 --> 00:00:42,360 Speaker 1: I think when people hear that word, they think of 9 00:00:42,640 --> 00:00:45,160 Speaker 1: like sitting down at this conference table. Uh, and there's 10 00:00:45,240 --> 00:00:46,920 Speaker 1: two parties at the table, right, Like, it makes me 11 00:00:46,960 --> 00:00:48,919 Speaker 1: think of like a union, and then you've got like 12 00:00:49,000 --> 00:00:51,360 Speaker 1: the guy that's in there. It's a you know, make 13 00:00:51,360 --> 00:00:53,400 Speaker 1: a deal with the union, that kind of thing. But 14 00:00:53,640 --> 00:00:56,360 Speaker 1: and while that's true, I guess we are talking about negotiating. 15 00:00:56,360 --> 00:00:58,560 Speaker 1: We're trying to put it into a new light. Or 16 00:00:58,600 --> 00:01:00,880 Speaker 1: you think about like the FBI and negos shading hostage 17 00:01:00,880 --> 00:01:04,040 Speaker 1: stand offers exactly his high stake thing that that's like 18 00:01:04,120 --> 00:01:08,120 Speaker 1: highly emotional and in reality, well that is true, but 19 00:01:08,240 --> 00:01:10,919 Speaker 1: negotiating does take place under those there's a whole different 20 00:01:10,920 --> 00:01:13,000 Speaker 1: type of negotiating. Then that's what we want to talk 21 00:01:13,040 --> 00:01:15,560 Speaker 1: about today, how it can impact your everyday life, how 22 00:01:15,560 --> 00:01:18,040 Speaker 1: it can save you money, how it can uh perhaps 23 00:01:18,040 --> 00:01:20,240 Speaker 1: allow you to make more money. We're gonna talk about 24 00:01:20,319 --> 00:01:22,200 Speaker 1: all of that today, Yeah, no doubt. All right, Well, 25 00:01:22,240 --> 00:01:23,720 Speaker 1: before we get to that, Matt, let's just share a 26 00:01:23,760 --> 00:01:27,080 Speaker 1: listener win because listener Kyle reached out to us and 27 00:01:27,240 --> 00:01:29,920 Speaker 1: he he um. He was one of those people that 28 00:01:30,280 --> 00:01:32,679 Speaker 1: you know, when we talk about millennial spending money at 29 00:01:32,680 --> 00:01:35,319 Speaker 1: coffee shops, Kyle was the patent guy they were talking about. 30 00:01:35,840 --> 00:01:38,320 Speaker 1: Because Kyle Kleen, he was spending something close to a 31 00:01:38,400 --> 00:01:41,600 Speaker 1: hundred dollars a month so on getting coffee every day 32 00:01:41,600 --> 00:01:44,840 Speaker 1: out at Starbuck and in all fairness, his work, he said, 33 00:01:44,880 --> 00:01:47,400 Speaker 1: takes them. He's on the road Monday through Friday. And 34 00:01:47,560 --> 00:01:50,440 Speaker 1: I was also thinking, well, why doesn't his employer pay 35 00:01:50,520 --> 00:01:52,400 Speaker 1: for his coffee or pay for his meals? But I 36 00:01:52,400 --> 00:01:54,080 Speaker 1: don't know his situation. I don't know what he's got 37 00:01:54,120 --> 00:01:56,400 Speaker 1: going on, but either way, he was paying out a pocket. Yeah, 38 00:01:56,400 --> 00:01:58,880 Speaker 1: like you said, for coffee. And this is an instance 39 00:01:58,920 --> 00:02:02,600 Speaker 1: where a subscript and normally we hate subscriptions, but this 40 00:02:02,640 --> 00:02:04,600 Speaker 1: is a subscription we can get behind because it's gonna 41 00:02:04,600 --> 00:02:07,800 Speaker 1: save you money. He's talking. He basically told us about 42 00:02:07,840 --> 00:02:11,840 Speaker 1: the unlimited sip club ye from Panera Bread. Yeah, which 43 00:02:11,960 --> 00:02:15,320 Speaker 1: basically it's it's something like we've got a gas station 44 00:02:15,320 --> 00:02:17,120 Speaker 1: where we live and it called a quick Trip, and 45 00:02:17,160 --> 00:02:19,080 Speaker 1: they would, I think, do something similar where you get 46 00:02:19,160 --> 00:02:21,520 Speaker 1: unlimited rebills during the summer months for a certain amount, 47 00:02:21,639 --> 00:02:24,120 Speaker 1: you know, for a certain dollar amount with a particular cup, right, like, 48 00:02:24,160 --> 00:02:25,440 Speaker 1: as long as you buy the kind of cut that 49 00:02:25,520 --> 00:02:28,560 Speaker 1: you can show up refills something like that, drink all 50 00:02:28,600 --> 00:02:31,440 Speaker 1: the high freaking corn syrup carbonation as you want to 51 00:02:31,440 --> 00:02:36,399 Speaker 1: pass out on the floor dead from just well yeah, 52 00:02:36,440 --> 00:02:39,280 Speaker 1: Kyle's using it mostly to get coffee, but yeah, you're right. 53 00:02:39,320 --> 00:02:41,240 Speaker 1: This is a situation which he weighed the pros and cons, 54 00:02:41,240 --> 00:02:43,640 Speaker 1: and the subscription made the most sense because that Panera 55 00:02:43,880 --> 00:02:47,040 Speaker 1: Bread subscription is like nine dollars a month, and so 56 00:02:47,280 --> 00:02:49,480 Speaker 1: he was paying nine dollars so he started. But so 57 00:02:49,680 --> 00:02:52,760 Speaker 1: when you go to it now, it's like it's the 58 00:02:52,800 --> 00:02:54,880 Speaker 1: only about like ten bucks, which is I mean, if 59 00:02:54,880 --> 00:02:57,160 Speaker 1: you're able to save close to ninety bucks a month, 60 00:02:57,720 --> 00:03:00,320 Speaker 1: this is I mean, so this is where like jeting 61 00:03:00,320 --> 00:03:02,280 Speaker 1: and tracking your expenses is going to really come in 62 00:03:02,320 --> 00:03:05,200 Speaker 1: handy because I've I feel that though, like those coffee 63 00:03:05,200 --> 00:03:08,600 Speaker 1: expenses could just sort of slip under the radar, you know, 64 00:03:08,639 --> 00:03:10,320 Speaker 1: like you're like, I'm not spending that much, but then 65 00:03:10,320 --> 00:03:12,920 Speaker 1: you're like, oh, wait a minute, I'm actually spending money 66 00:03:12,960 --> 00:03:15,360 Speaker 1: on coffee every single day because I'm a human being. 67 00:03:15,680 --> 00:03:18,200 Speaker 1: And he mentioned Monday through Friday, but man, I'd be 68 00:03:18,280 --> 00:03:21,320 Speaker 1: using that thing on the weekend, not just Monday through 69 00:03:21,360 --> 00:03:23,760 Speaker 1: Friday while I'm on the road. I'm gonna take advantage 70 00:03:23,800 --> 00:03:27,720 Speaker 1: of that seven days a week only. I like the ingenuity, right, yes, yeah, 71 00:03:27,720 --> 00:03:29,639 Speaker 1: because it's one of those things where he said he's 72 00:03:29,639 --> 00:03:32,079 Speaker 1: saving eighty five plus dollars a month now that he's 73 00:03:32,120 --> 00:03:34,920 Speaker 1: doing this subscription. Because if you're getting coffee every day 74 00:03:34,960 --> 00:03:37,200 Speaker 1: out like and you put that in your budget, that's okay. 75 00:03:37,240 --> 00:03:39,560 Speaker 1: But if you could also find a way to save 76 00:03:40,040 --> 00:03:43,440 Speaker 1: right to to do it for like one tenth of 77 00:03:43,520 --> 00:03:46,400 Speaker 1: the price fraction, Yeah, that's impressive. He can kind of 78 00:03:46,400 --> 00:03:48,160 Speaker 1: have your keya, you have your cake and eat it too, 79 00:03:48,480 --> 00:03:50,520 Speaker 1: as long as you can get behind some you know, 80 00:03:50,600 --> 00:03:53,040 Speaker 1: Panera coffee. I don't know what we don't I don't 81 00:03:53,080 --> 00:03:57,000 Speaker 1: know what level it's at, but Kyle Moore powered to 82 00:03:57,080 --> 00:04:00,120 Speaker 1: you I saw too. There's like it's not just coffee, like, 83 00:04:00,160 --> 00:04:01,840 Speaker 1: you can get fountain drinks as well, so you can 84 00:04:01,840 --> 00:04:05,560 Speaker 1: also pull the quick trip move going there and t 85 00:04:05,880 --> 00:04:08,360 Speaker 1: as well, like hot and cold teas. Are you still drinking? 86 00:04:08,720 --> 00:04:11,440 Speaker 1: You're your iced tea at dinner? Like every sweet every 87 00:04:11,800 --> 00:04:13,400 Speaker 1: like a good Southerner you are. Yeah, I was gonna 88 00:04:13,400 --> 00:04:15,920 Speaker 1: say you are such even though I'm not really a Southerner. 89 00:04:16,080 --> 00:04:18,320 Speaker 1: It's it's the Southern way of being and it's you 90 00:04:18,360 --> 00:04:21,080 Speaker 1: do it sweet. Yeah, and not as sweet is like 91 00:04:21,279 --> 00:04:23,560 Speaker 1: you might get at cracker Barrel or something like that. 92 00:04:23,640 --> 00:04:25,520 Speaker 1: But uh yeah, no, I like, I like sweet tea 93 00:04:25,520 --> 00:04:28,960 Speaker 1: for dinner. Caffeine has no effect on you, sir. All right, 94 00:04:29,040 --> 00:04:33,000 Speaker 1: So our beer for this episode is a grisette by 95 00:04:33,200 --> 00:04:36,000 Speaker 1: Jester King, and this one is re fermented with cherries. 96 00:04:36,040 --> 00:04:38,600 Speaker 1: I'm looking forward to enjoying this one today. We will 97 00:04:38,600 --> 00:04:40,599 Speaker 1: share our thoughts at the end of the episode. Yeah, 98 00:04:40,600 --> 00:04:42,520 Speaker 1: my assumption is that our thoughts are gonna be positive, 99 00:04:42,560 --> 00:04:43,920 Speaker 1: but we're gonna love it. Yeah, you can wait to 100 00:04:43,920 --> 00:04:46,760 Speaker 1: find out because Jester King. Well, Matt, let's move on. 101 00:04:46,800 --> 00:04:49,520 Speaker 1: Let's talk about negotiating as a as an everyday tactic 102 00:04:49,560 --> 00:04:52,640 Speaker 1: that people can use to win with their finances. And 103 00:04:52,839 --> 00:04:54,360 Speaker 1: I don't know, it made me think, as we're talking 104 00:04:54,400 --> 00:04:57,080 Speaker 1: about negotiation, you just mentioned how people maybe think of 105 00:04:57,120 --> 00:04:59,000 Speaker 1: it wrongly. We're always thinking about it in these big, 106 00:04:59,000 --> 00:05:01,719 Speaker 1: grand terms, when really there are a lot of small, 107 00:05:01,800 --> 00:05:05,040 Speaker 1: everyday ways that we can negotiate and win. Maybe think 108 00:05:05,080 --> 00:05:07,480 Speaker 1: about the way you track your time, and you you've 109 00:05:07,520 --> 00:05:10,240 Speaker 1: been pretty committed to tracking your time. I have been 110 00:05:10,240 --> 00:05:12,440 Speaker 1: in the past. Yeah, and I no longer do that, Okay, 111 00:05:12,440 --> 00:05:14,599 Speaker 1: all right, Well for a while you were, And maybe 112 00:05:14,640 --> 00:05:16,200 Speaker 1: it's just because you found a good group, right, you 113 00:05:16,240 --> 00:05:18,360 Speaker 1: found yourself the way you tracked your time, and then 114 00:05:18,520 --> 00:05:21,680 Speaker 1: you began to implement some new habits, like a self exploration. 115 00:05:21,680 --> 00:05:23,200 Speaker 1: I was just curious to see how much time I 116 00:05:23,240 --> 00:05:25,320 Speaker 1: was spending on different tasks throughout the day, so I tracked. 117 00:05:25,320 --> 00:05:28,520 Speaker 1: For folks who haven't been listening more than a year, 118 00:05:28,560 --> 00:05:30,480 Speaker 1: I guess this is like maybe two years ago, Laura 119 00:05:30,520 --> 00:05:32,640 Speaker 1: vanderham on two to three years ago. Yeah, I was 120 00:05:32,640 --> 00:05:34,920 Speaker 1: around that time, and I was literally tracking every minute 121 00:05:34,960 --> 00:05:36,920 Speaker 1: of the day, like I had this app going on 122 00:05:36,960 --> 00:05:38,520 Speaker 1: my phone, and I made fun of you know, any 123 00:05:38,520 --> 00:05:40,520 Speaker 1: of those minutes time the day based on the way 124 00:05:40,520 --> 00:05:42,240 Speaker 1: you were. Now, I just switched from one activity to 125 00:05:42,240 --> 00:05:44,880 Speaker 1: the next, and I wasn't getting to too detailed with it, 126 00:05:44,920 --> 00:05:47,400 Speaker 1: but just general swallos of the day. I was curious, what, 127 00:05:47,720 --> 00:05:49,760 Speaker 1: you know, what I was spending my time on in 128 00:05:49,839 --> 00:05:52,360 Speaker 1: order just to hopefully be more efficient with my time. Yeah, 129 00:05:52,360 --> 00:05:53,760 Speaker 1: and I thought you were being kind of nerdy. And 130 00:05:53,880 --> 00:05:55,680 Speaker 1: maybe it is. It's a nerdy your thing, Like that's 131 00:05:55,720 --> 00:05:58,000 Speaker 1: not a normal thing, right, I talked smack about you 132 00:05:58,040 --> 00:05:59,919 Speaker 1: behind the scenes. Well, you know, and I'm just like 133 00:06:00,200 --> 00:06:02,320 Speaker 1: a less regimented person and I'm more prone to do 134 00:06:02,400 --> 00:06:04,800 Speaker 1: things on a whim. It's not for you, but like, 135 00:06:04,839 --> 00:06:07,720 Speaker 1: there're certainly flaws with my personality tendency, right, I tend 136 00:06:07,760 --> 00:06:09,400 Speaker 1: to throw the baby out with the bathwater when I 137 00:06:09,440 --> 00:06:12,000 Speaker 1: when I should at least consider the benefits of something 138 00:06:12,720 --> 00:06:15,360 Speaker 1: as simple as managing my time more effectively and trying 139 00:06:15,400 --> 00:06:17,520 Speaker 1: to implement something that would help me do that. And 140 00:06:17,600 --> 00:06:20,480 Speaker 1: so I guess what something I thought was unimportant or 141 00:06:20,480 --> 00:06:24,240 Speaker 1: at least uncool not with my ever is maybe something is. 142 00:06:24,279 --> 00:06:27,920 Speaker 1: It's something I've found more meaningful recently because I've been 143 00:06:27,920 --> 00:06:30,960 Speaker 1: able to find a balance between tracking my time in 144 00:06:31,000 --> 00:06:34,159 Speaker 1: some ways to make sure that I'm being effective. I 145 00:06:34,160 --> 00:06:36,760 Speaker 1: have no desire to go to down to the minute 146 00:06:36,880 --> 00:06:39,479 Speaker 1: detail or second detail of my life and and track 147 00:06:39,520 --> 00:06:42,760 Speaker 1: it that extensively. But still I think in much the 148 00:06:42,800 --> 00:06:45,280 Speaker 1: same way, right when it comes to negotiation, there's a 149 00:06:45,279 --> 00:06:48,120 Speaker 1: potential for meaningful value. Right that people might think it's 150 00:06:48,120 --> 00:06:50,440 Speaker 1: not worth their time to think about it, uh and 151 00:06:50,520 --> 00:06:52,960 Speaker 1: doing it regularly learning how to do it well. But 152 00:06:52,960 --> 00:06:54,560 Speaker 1: but like me, when it comes to time management, you 153 00:06:54,640 --> 00:06:56,280 Speaker 1: might be wrong, and you might find that there are 154 00:06:56,520 --> 00:06:58,560 Speaker 1: there are ways at least that you can incorporate it 155 00:06:58,560 --> 00:07:01,200 Speaker 1: into your life that will provide enough results and maybe 156 00:07:01,240 --> 00:07:03,680 Speaker 1: it'll make you kind of rethink the endeavor and kind 157 00:07:03,680 --> 00:07:07,080 Speaker 1: of make you more interested and actually going down that path. Sure, yeah, 158 00:07:07,120 --> 00:07:09,600 Speaker 1: and you know, like being able to manage your time well. 159 00:07:09,640 --> 00:07:12,559 Speaker 1: Like we are here to argue that negotiating is something 160 00:07:12,800 --> 00:07:15,560 Speaker 1: that can benefit you regardless of what stage of life 161 00:07:15,560 --> 00:07:18,480 Speaker 1: you're in, right, like whether you you're a student school, 162 00:07:18,480 --> 00:07:21,440 Speaker 1: whether you are a stay at home parent, or even 163 00:07:21,480 --> 00:07:24,600 Speaker 1: a CEO. We think that negotiating has sort of like 164 00:07:24,640 --> 00:07:27,640 Speaker 1: the special universal quality to it. But one of the 165 00:07:27,680 --> 00:07:30,840 Speaker 1: problems is that oftentimes folks are just too scared to 166 00:07:31,040 --> 00:07:35,160 Speaker 1: negotiate fear is certainly something that holds us back much 167 00:07:35,160 --> 00:07:37,840 Speaker 1: of the time, as a lot of us have been raised, 168 00:07:37,840 --> 00:07:40,240 Speaker 1: I think to ruffle as as few feathers as possible. 169 00:07:40,360 --> 00:07:42,680 Speaker 1: You know, I gotta wanna paint with too broad of 170 00:07:42,680 --> 00:07:46,160 Speaker 1: a brush. But like I believe that younger generations ours 171 00:07:46,200 --> 00:07:49,960 Speaker 1: included as millennials, that were particularly prone to avoid any 172 00:07:50,000 --> 00:07:53,360 Speaker 1: social discomfort that that might come about because of conflict. 173 00:07:53,680 --> 00:07:55,920 Speaker 1: Just makes me think of how will might send like 174 00:07:55,960 --> 00:07:59,160 Speaker 1: twenty or thirty or forty texts in order to uh 175 00:07:59,320 --> 00:08:02,920 Speaker 1: distance ourselves from a potential awkward situation, right when we 176 00:08:03,000 --> 00:08:04,320 Speaker 1: know that if we just picked up the phone and 177 00:08:04,520 --> 00:08:07,040 Speaker 1: called our parents back or got back to our friend, 178 00:08:07,200 --> 00:08:09,680 Speaker 1: it would help to clarify things. And granted there are 179 00:08:09,800 --> 00:08:12,120 Speaker 1: times there's there's a time in place for text messages, 180 00:08:12,160 --> 00:08:14,360 Speaker 1: for sure, but there's sort of this ongoing joke I 181 00:08:14,360 --> 00:08:17,200 Speaker 1: feel like with millennials and zoomers, where it's like I'm 182 00:08:17,200 --> 00:08:18,440 Speaker 1: not going to pick up the phone, like I'm not 183 00:08:18,480 --> 00:08:20,360 Speaker 1: going to talk to you in person when we know 184 00:08:20,400 --> 00:08:22,480 Speaker 1: that that would be a more effective way to communicate. 185 00:08:22,520 --> 00:08:24,640 Speaker 1: But oftentimes I think we're doing that in order to 186 00:08:24,680 --> 00:08:27,840 Speaker 1: preserve any sort of uh, to keep away any conflict 187 00:08:28,040 --> 00:08:30,800 Speaker 1: to not ruffle those feathers. And you know the other 188 00:08:30,840 --> 00:08:33,760 Speaker 1: realities that folks often don't know how to negotiate well. 189 00:08:33,800 --> 00:08:36,400 Speaker 1: They're they're unsure about how to do it well. Uh. 190 00:08:36,440 --> 00:08:38,880 Speaker 1: And so it's not necessarily that you didn't want your 191 00:08:38,920 --> 00:08:41,480 Speaker 1: time to be spent wisely, Joel. You just hadn't tried 192 00:08:41,520 --> 00:08:43,640 Speaker 1: to implement maybe a system that helped you to do that, 193 00:08:44,080 --> 00:08:45,880 Speaker 1: or maybe I was just thinking about it wrong and 194 00:08:45,880 --> 00:08:48,440 Speaker 1: I thought that to be more effective with my time, 195 00:08:48,480 --> 00:08:49,800 Speaker 1: I had to track it in the way you were 196 00:08:49,840 --> 00:08:51,920 Speaker 1: doing it, which was pretty granular, and I was like, 197 00:08:51,960 --> 00:08:54,840 Speaker 1: that's that's too intense for me. It doesn't mean that 198 00:08:54,880 --> 00:08:56,559 Speaker 1: I don't want my time to be spent well, and 199 00:08:56,600 --> 00:08:59,320 Speaker 1: then I could find something that is going to be 200 00:08:59,320 --> 00:09:02,400 Speaker 1: better for for that. And even though like generally like 201 00:09:02,440 --> 00:09:04,560 Speaker 1: a nerdy concept, that doesn't mean that being able to 202 00:09:04,559 --> 00:09:07,320 Speaker 1: manage your time more effectively like that's going to benefit 203 00:09:07,400 --> 00:09:09,400 Speaker 1: anybody and everybody. And so in the same way, we 204 00:09:09,440 --> 00:09:12,200 Speaker 1: feel that way about negotiating. So we want to dispel 205 00:09:12,280 --> 00:09:16,280 Speaker 1: some of these preconceived notions about what negotiation does and 206 00:09:16,320 --> 00:09:18,920 Speaker 1: what it doesn't involve. Today, we're gonna offer our best 207 00:09:18,920 --> 00:09:21,880 Speaker 1: advice for for how you can start implementing some beneficial 208 00:09:22,280 --> 00:09:25,280 Speaker 1: tactics in your everyday life, helping you to to save 209 00:09:25,320 --> 00:09:27,600 Speaker 1: more money, to make more money as well, and you know, 210 00:09:27,679 --> 00:09:29,920 Speaker 1: just pursue more of what it is that you value. Yeah, 211 00:09:30,000 --> 00:09:32,319 Speaker 1: let's first maybe talk a little bit about what negotiating 212 00:09:32,720 --> 00:09:35,520 Speaker 1: is and isn't, because I think sometimes one of the 213 00:09:35,559 --> 00:09:40,080 Speaker 1: biggest common myths is that people think a shrewd negotiator 214 00:09:40,480 --> 00:09:43,280 Speaker 1: is screwing people over left and right. Sure, and so 215 00:09:43,600 --> 00:09:46,480 Speaker 1: that in order to effectively get what you want, somebody 216 00:09:46,480 --> 00:09:49,280 Speaker 1: else has to get run over in the process. They 217 00:09:49,280 --> 00:09:55,280 Speaker 1: often there's a fixed amount of pizza, get more, and 218 00:09:55,440 --> 00:09:58,720 Speaker 1: therefore maybe maybe it's not unfair or maybe I'm hurting 219 00:09:58,760 --> 00:10:01,040 Speaker 1: someone in the process. That's their city mindset. Yeah, and 220 00:10:01,040 --> 00:10:03,360 Speaker 1: they think that it's maybe some sort of conflict ridden 221 00:10:03,360 --> 00:10:06,600 Speaker 1: exercise too. But again that's a myth, because the best 222 00:10:06,600 --> 00:10:09,439 Speaker 1: negotiators to actually leave the other side feeling like they 223 00:10:09,480 --> 00:10:13,199 Speaker 1: gotta win. Also, so, yeah, if you're negotiating and you're 224 00:10:13,240 --> 00:10:15,840 Speaker 1: leaving a bad taste in someone's mouth because your tactics 225 00:10:15,920 --> 00:10:18,720 Speaker 1: are too ruthless, they're not likely to want much to 226 00:10:18,720 --> 00:10:21,960 Speaker 1: do with you in the future, meaning that you lost. Also, 227 00:10:22,320 --> 00:10:24,160 Speaker 1: that's not the right you want to take. You've you've 228 00:10:24,200 --> 00:10:26,360 Speaker 1: lost the overall war, right Like you may have one 229 00:10:26,400 --> 00:10:29,280 Speaker 1: that that one particular battle, that skirmish, but not the 230 00:10:29,320 --> 00:10:31,439 Speaker 1: overall war. Right. Yeah, it makes me think of I 231 00:10:31,440 --> 00:10:33,880 Speaker 1: don't know. One of the most common things I think 232 00:10:33,920 --> 00:10:36,520 Speaker 1: about as a baseball fan when it comes to negotiating, 233 00:10:36,640 --> 00:10:38,720 Speaker 1: is the trade deadline pass just a few weeks ago? 234 00:10:38,840 --> 00:10:42,240 Speaker 1: Oh did it it? Did? They are all these trades 235 00:10:42,240 --> 00:10:44,400 Speaker 1: flying around, especially the last couple of days. It's like 236 00:10:44,400 --> 00:10:46,320 Speaker 1: trading a couple of prospects for a major league player 237 00:10:46,400 --> 00:10:48,880 Speaker 1: or everyone one of those major league players from major 238 00:10:48,920 --> 00:10:51,800 Speaker 1: league player deals. Sometimes there's cash thrown in and stuff 239 00:10:51,840 --> 00:10:54,400 Speaker 1: into these deals as well. But let's say a baseball 240 00:10:54,480 --> 00:10:58,120 Speaker 1: GM he pulls the wool over another GM's eyes, and 241 00:10:58,400 --> 00:11:00,880 Speaker 1: that's harder to do because he typically have the same 242 00:11:00,920 --> 00:11:04,040 Speaker 1: information at their disposal. But let's say you did you 243 00:11:04,160 --> 00:11:07,280 Speaker 1: just he fully took advantage of somebody to work for 244 00:11:07,320 --> 00:11:10,680 Speaker 1: another club. Well, that's going to prevent future opportunities to 245 00:11:10,720 --> 00:11:14,200 Speaker 1: make good trades, right, and that could ultimately hamstring his 246 00:11:14,240 --> 00:11:17,360 Speaker 1: efforts in the long run. And so yeah, this this typically, 247 00:11:17,360 --> 00:11:19,600 Speaker 1: by the way, negotiation, it's not typically a one time thing. 248 00:11:19,640 --> 00:11:22,040 Speaker 1: You don't want to sour a relationship by taking advantage 249 00:11:22,040 --> 00:11:24,480 Speaker 1: of the other party. That's an important part to mention 250 00:11:24,520 --> 00:11:27,600 Speaker 1: here because that's sort of mentality. Thinking of negotiation as 251 00:11:27,600 --> 00:11:30,320 Speaker 1: this one off chance to try to like destroy somebody 252 00:11:30,360 --> 00:11:32,959 Speaker 1: else is the exact opposite of what you're trying to 253 00:11:32,960 --> 00:11:36,200 Speaker 1: accomplish a totally. It's worth mentioning as well, that negotiating 254 00:11:36,360 --> 00:11:39,480 Speaker 1: it's considered normal in other cultures and in other countries 255 00:11:39,640 --> 00:11:41,360 Speaker 1: because oftentimes in our culture we're used to more of 256 00:11:41,400 --> 00:11:45,360 Speaker 1: a fixed price sort of market. Here, typically you can't 257 00:11:45,360 --> 00:11:48,040 Speaker 1: really negotiate the price of a box of cheerios or 258 00:11:48,120 --> 00:11:51,040 Speaker 1: a gallon of milk at Walmart or at your local 259 00:11:51,200 --> 00:11:53,880 Speaker 1: Aldi or Costco. That we just generally do a lot 260 00:11:53,960 --> 00:11:57,440 Speaker 1: less haggling than a lot of cultures, whereas in countries 261 00:11:57,559 --> 00:11:59,679 Speaker 1: like in the Middle East and in Turkey, Egypt, over 262 00:11:59,720 --> 00:12:02,720 Speaker 1: in down in Central America, haggling it's the normal way 263 00:12:02,880 --> 00:12:05,440 Speaker 1: of doing business. Makes me think back to when I 264 00:12:05,520 --> 00:12:07,720 Speaker 1: was in high school and I was in Guatemala City. 265 00:12:08,000 --> 00:12:10,360 Speaker 1: Right outside of Guatemala City, there is a market and 266 00:12:10,360 --> 00:12:12,600 Speaker 1: we were encouraged, like as high schoolers are like hey, 267 00:12:12,720 --> 00:12:15,040 Speaker 1: well they're gonna say a price, and they're basically the 268 00:12:15,040 --> 00:12:16,920 Speaker 1: folks who are with us, we're teaching us how to 269 00:12:17,000 --> 00:12:20,200 Speaker 1: haggle because they know, as American teenagers that we had 270 00:12:20,280 --> 00:12:22,880 Speaker 1: zero experience doing that basically, And so it was a 271 00:12:22,880 --> 00:12:26,520 Speaker 1: lot of fun figuring out how to uh negotiate down 272 00:12:26,559 --> 00:12:31,280 Speaker 1: the price of the machete that I was trying to buy, which, yeah, 273 00:12:31,360 --> 00:12:33,360 Speaker 1: that's right. As a high schooler, I bought a machete. 274 00:12:34,840 --> 00:12:38,760 Speaker 1: And yes, this was obviously pre uh nine eleven. Um 275 00:12:39,320 --> 00:12:40,719 Speaker 1: for all the Stoomers out there, you used to be 276 00:12:40,760 --> 00:12:43,720 Speaker 1: able to travel with the chetti's on the airplane. I 277 00:12:43,720 --> 00:12:46,040 Speaker 1: hadn't really thought about the fact that, yeah, like somehow 278 00:12:46,080 --> 00:12:47,960 Speaker 1: I came back and remember I have that at home. 279 00:12:48,120 --> 00:12:52,120 Speaker 1: It's like this uh Guatemala machete. All right, well you 280 00:12:52,120 --> 00:12:53,800 Speaker 1: should whip that out. And you know, I don't think 281 00:12:53,840 --> 00:12:56,560 Speaker 1: I have an intra weeds under control the front lawn. Well, yeah, 282 00:12:56,880 --> 00:12:59,560 Speaker 1: it makes me think of when I visited China back 283 00:12:59,679 --> 00:13:02,960 Speaker 1: in two thousand nine, and I did not buy machete, 284 00:13:03,000 --> 00:13:04,200 Speaker 1: but I bought like a pair of shorts. I had 285 00:13:04,280 --> 00:13:06,240 Speaker 1: left my swim trucks and home I totally forgot to 286 00:13:06,240 --> 00:13:10,079 Speaker 1: bring any and so I need more by a part. Yes, yes, 287 00:13:10,080 --> 00:13:13,720 Speaker 1: and I can actually bring those someone the plane. But 288 00:13:14,080 --> 00:13:17,560 Speaker 1: I distinctly just remember haggling with this, with this, with 289 00:13:17,600 --> 00:13:20,800 Speaker 1: this lady in the market over these shorts, and I 290 00:13:20,880 --> 00:13:22,280 Speaker 1: just thought it was a blast. I thought it was 291 00:13:22,320 --> 00:13:24,840 Speaker 1: fun to kind of this this back and forth and 292 00:13:24,880 --> 00:13:27,520 Speaker 1: even just like the reactions, right, the facial reactions from 293 00:13:27,559 --> 00:13:29,880 Speaker 1: the person who's doing this, Like how they seem like 294 00:13:29,880 --> 00:13:32,480 Speaker 1: it's like a dance. Oh yeah, it's exactly. It's exactly 295 00:13:32,480 --> 00:13:35,440 Speaker 1: like a dance, and they kind of like fake being 296 00:13:35,480 --> 00:13:37,800 Speaker 1: insulted or something like that, and then they come back 297 00:13:37,840 --> 00:13:40,520 Speaker 1: at you, and I just remember just how fun that 298 00:13:40,559 --> 00:13:42,400 Speaker 1: game was. And I think, I think Matt, you're right, like, 299 00:13:42,440 --> 00:13:44,960 Speaker 1: if you can think of negotiation more as a game 300 00:13:45,000 --> 00:13:47,480 Speaker 1: instead of like this butting of heads, you'll be far 301 00:13:47,559 --> 00:13:49,360 Speaker 1: more likely to engage in it, even if it's like 302 00:13:49,400 --> 00:13:52,400 Speaker 1: not seen as terribly normal here in the United States. 303 00:13:52,440 --> 00:13:54,480 Speaker 1: We can take kind of a lesson from some of 304 00:13:54,480 --> 00:13:57,679 Speaker 1: these other cultures how how they do it, how they 305 00:13:57,679 --> 00:14:00,319 Speaker 1: perform this negotiation dance, and I think you can kind 306 00:14:00,320 --> 00:14:02,480 Speaker 1: of think of it similarly. Sure, but just because you 307 00:14:02,559 --> 00:14:04,520 Speaker 1: we think about it that way doesn't necessarily mean that 308 00:14:04,520 --> 00:14:06,160 Speaker 1: everybody else will think of it that way, right, and 309 00:14:06,200 --> 00:14:08,959 Speaker 1: so uh, in that way, though, I think we should 310 00:14:08,960 --> 00:14:11,760 Speaker 1: probably think less about what other people think. Like Warren 311 00:14:11,760 --> 00:14:14,840 Speaker 1: Buffett talks about the interscore card versus the external scorecard 312 00:14:14,920 --> 00:14:17,160 Speaker 1: and how we oftentimes we probably need to be spending 313 00:14:17,160 --> 00:14:19,440 Speaker 1: more time on the interscore card and what matters to 314 00:14:19,560 --> 00:14:22,240 Speaker 1: us as opposed to what everybody what everybody else thinks. 315 00:14:22,600 --> 00:14:24,440 Speaker 1: And so bottom line, we think that there's more room 316 00:14:24,480 --> 00:14:27,840 Speaker 1: to negotiate on the daily than you think. Joel, you 317 00:14:27,880 --> 00:14:30,960 Speaker 1: read this book Uh Never Split the Difference by Chris Voss, 318 00:14:31,000 --> 00:14:33,480 Speaker 1: and you're like, yeah, we gotta talk about negotiating, I think. 319 00:14:34,200 --> 00:14:35,920 Speaker 1: And I was like, but but there's a way for 320 00:14:36,000 --> 00:14:38,640 Speaker 1: us to apply this specifically to kind of personal finance 321 00:14:38,640 --> 00:14:40,480 Speaker 1: and money. Yeah, And so that's what we're doing today. 322 00:14:40,480 --> 00:14:43,120 Speaker 1: We're gonna discuss some of these ways to negotiate better, uh, 323 00:14:43,160 --> 00:14:45,680 Speaker 1: and we also provide some examples so that you can 324 00:14:45,720 --> 00:14:49,160 Speaker 1: have an idea of how and when to apply these 325 00:14:49,160 --> 00:14:53,120 Speaker 1: techniques for maximum effectiveness. And you know, one of the 326 00:14:53,120 --> 00:14:55,800 Speaker 1: first things that we would encourage for you to do 327 00:14:55,880 --> 00:14:59,040 Speaker 1: is to identify the pain point of whoever it is 328 00:14:59,080 --> 00:15:01,880 Speaker 1: that you're negotiating because you you know what it is 329 00:15:01,880 --> 00:15:04,600 Speaker 1: that you want, right, it's the reason that you're having 330 00:15:04,600 --> 00:15:07,680 Speaker 1: a conversation, uh to begin with. And you also already 331 00:15:07,680 --> 00:15:09,880 Speaker 1: know what it is the other person wants, because either 332 00:15:09,920 --> 00:15:12,000 Speaker 1: they've listed that item for sale or they've called you 333 00:15:12,040 --> 00:15:14,440 Speaker 1: into their office and they're talking about a raise. But 334 00:15:14,560 --> 00:15:16,320 Speaker 1: now it's it's going to be important for you to 335 00:15:16,360 --> 00:15:20,560 Speaker 1: try and identify why it is they want what they want. 336 00:15:20,760 --> 00:15:22,480 Speaker 1: And so, for for instance, it makes me think if 337 00:15:22,520 --> 00:15:25,760 Speaker 1: you've been eyeing a TV on Facebook marketplace, right, some 338 00:15:25,840 --> 00:15:29,640 Speaker 1: of those pain points are easily decipherable from just like 339 00:15:29,680 --> 00:15:31,960 Speaker 1: looking at the listing real quick. Right, Like one of 340 00:15:31,960 --> 00:15:34,640 Speaker 1: those is just how long it's been listed, because most 341 00:15:34,680 --> 00:15:37,400 Speaker 1: folks they're gonna get tired of fielding the uh is 342 00:15:37,400 --> 00:15:40,360 Speaker 1: this is this item still available questions after a while. 343 00:15:40,360 --> 00:15:42,440 Speaker 1: If I've filled a ten of those with no follow throughs, 344 00:15:42,480 --> 00:15:44,600 Speaker 1: someone actually a series about following through You're like, I'm 345 00:15:44,640 --> 00:15:46,600 Speaker 1: already how can I sell this to you as quickly 346 00:15:46,600 --> 00:15:49,520 Speaker 1: as possible in prim negotiating territory, like you can kind 347 00:15:49,520 --> 00:15:51,440 Speaker 1: of come at me with some some decent offers and 348 00:15:51,480 --> 00:15:53,320 Speaker 1: I'll consider it exactly. Yeah, so you're gonna have more 349 00:15:53,440 --> 00:15:55,440 Speaker 1: room to negotiate if that TV has been listed for 350 00:15:55,440 --> 00:15:57,360 Speaker 1: a couple of weeks rather than if it's just been 351 00:15:57,400 --> 00:16:00,400 Speaker 1: there for a couple of days. Um. Also, like like TVs, 352 00:16:00,400 --> 00:16:02,440 Speaker 1: they're they're kind of big, you know, And so there's 353 00:16:02,440 --> 00:16:05,280 Speaker 1: a good chance that they might just want it out 354 00:16:05,280 --> 00:16:08,120 Speaker 1: of the garage or just out of the laundry room 355 00:16:08,120 --> 00:16:10,760 Speaker 1: wherever they have it. So your ability to get a 356 00:16:10,760 --> 00:16:14,040 Speaker 1: better price might be a direct reflection of your ability 357 00:16:14,240 --> 00:16:16,640 Speaker 1: to pay cash and to pick it up today. Figure 358 00:16:16,680 --> 00:16:18,720 Speaker 1: out what it is that they're wanting the most, other 359 00:16:18,800 --> 00:16:22,080 Speaker 1: than in this case money, and find a way to 360 00:16:22,200 --> 00:16:24,640 Speaker 1: meet them at that need. Yeah, yeah, I agree, Yeah, 361 00:16:24,640 --> 00:16:27,600 Speaker 1: And sometimes it is just the timing right. People want 362 00:16:27,600 --> 00:16:29,720 Speaker 1: it to be simple. And if you say, listen, if 363 00:16:29,720 --> 00:16:31,840 Speaker 1: you'll take this much less, I will come pick it 364 00:16:31,960 --> 00:16:34,880 Speaker 1: up within the next hour, I will. I will be 365 00:16:34,920 --> 00:16:36,840 Speaker 1: in my car and on my way. I will make 366 00:16:36,880 --> 00:16:39,160 Speaker 1: it super simple. I will have cash in hand. And 367 00:16:39,320 --> 00:16:41,520 Speaker 1: that can sway somebody to accept a lower price than 368 00:16:41,560 --> 00:16:44,880 Speaker 1: they would they were previously otherwise disposed to taking. And 369 00:16:45,000 --> 00:16:46,840 Speaker 1: it's it's important to know, by the way, that not 370 00:16:46,920 --> 00:16:50,160 Speaker 1: everything is negotiable, right, But when you can identify the 371 00:16:50,200 --> 00:16:53,120 Speaker 1: pain point, you'll find that negotiating can be a reality 372 00:16:53,160 --> 00:16:55,760 Speaker 1: in more situations than you previously thought. It's kind of 373 00:16:55,760 --> 00:16:57,920 Speaker 1: like we talked about Matt when we talked about negotiating 374 00:16:58,400 --> 00:17:01,320 Speaker 1: a rent decrease or how a lot of people are 375 00:17:01,360 --> 00:17:03,640 Speaker 1: you know, keeping it rent from going up, basically finding 376 00:17:03,680 --> 00:17:06,359 Speaker 1: a way to keep it keep it steady. Well, you 377 00:17:06,440 --> 00:17:08,159 Speaker 1: can negotiate, but you've got to figure out what the 378 00:17:08,240 --> 00:17:11,200 Speaker 1: landlord's dilemma is. That's how Justin Pogue phrased it when 379 00:17:11,200 --> 00:17:13,040 Speaker 1: we brought him on the show. And when you know 380 00:17:13,160 --> 00:17:16,159 Speaker 1: what that land the landlord's pain point is, you can 381 00:17:16,200 --> 00:17:19,400 Speaker 1: address it in order to secure better terms for both 382 00:17:19,440 --> 00:17:22,240 Speaker 1: your landlord and yourself. You know, for a landlord, that 383 00:17:22,280 --> 00:17:25,080 Speaker 1: pain point could be losing a tenant that's been incredibly easy. 384 00:17:25,119 --> 00:17:27,120 Speaker 1: So let's say you are that tenant that has been 385 00:17:28,080 --> 00:17:31,720 Speaker 1: you've been a dream to work with rents early. Yeah, 386 00:17:32,800 --> 00:17:34,879 Speaker 1: not asking for silly things like a light bulb to 387 00:17:34,880 --> 00:17:38,520 Speaker 1: be replaced. You're basically relieving a landlord pain point and 388 00:17:38,640 --> 00:17:41,520 Speaker 1: it's gonna make it easier to negotiate. And let's say, um, 389 00:17:41,680 --> 00:17:43,760 Speaker 1: they might be worried about vacancy, right, so if you 390 00:17:43,800 --> 00:17:46,360 Speaker 1: move out, they might be the landlord might be worried 391 00:17:46,359 --> 00:17:48,000 Speaker 1: that they they're gonna lose a whole month of rent. 392 00:17:48,359 --> 00:17:50,760 Speaker 1: And if you know that they're worried about that that 393 00:17:50,840 --> 00:17:53,040 Speaker 1: they might not be able to get someone in time, 394 00:17:53,320 --> 00:17:56,560 Speaker 1: that gives you more leverage at the negotiating table. There 395 00:17:56,640 --> 00:17:58,680 Speaker 1: might be maybe, let's say, some deferred maintenance that they're 396 00:17:58,680 --> 00:18:00,119 Speaker 1: going to have to take care of if you to 397 00:18:00,160 --> 00:18:03,040 Speaker 1: move out to All of these things could be points 398 00:18:03,320 --> 00:18:05,920 Speaker 1: at which you can press to help ensure that you're 399 00:18:05,960 --> 00:18:09,080 Speaker 1: able to get and negotiate a lower rent amount. And 400 00:18:09,119 --> 00:18:12,439 Speaker 1: so deciphering the pain point sometimes it's intuitive, but it 401 00:18:12,440 --> 00:18:15,840 Speaker 1: can also involve asking a few questions, a few pointing questions. 402 00:18:15,840 --> 00:18:18,080 Speaker 1: And so we're talking about negotiating rent map, but but 403 00:18:18,320 --> 00:18:21,240 Speaker 1: using that dilemma that somebody has, you know, how can 404 00:18:21,280 --> 00:18:23,800 Speaker 1: I make it easier for them? What? What is their 405 00:18:23,880 --> 00:18:26,000 Speaker 1: reason for selling? And what would make them need to 406 00:18:26,000 --> 00:18:28,040 Speaker 1: sell it to me in a discount? Asking those questions 407 00:18:28,160 --> 00:18:31,239 Speaker 1: is going to be a huge part of negotiating a 408 00:18:31,240 --> 00:18:33,840 Speaker 1: better deal for yourself. Yeah, and and not just asking 409 00:18:33,840 --> 00:18:36,600 Speaker 1: yourself those questions like right like not just you say, okay, 410 00:18:36,640 --> 00:18:38,760 Speaker 1: what is it that he wants? Or you know, she 411 00:18:39,080 --> 00:18:42,200 Speaker 1: has been hesitant to raise my rent over the past 412 00:18:42,240 --> 00:18:44,720 Speaker 1: two years, what about my you know me being a 413 00:18:44,760 --> 00:18:47,280 Speaker 1: renter has allowed her to keep rent from going up. 414 00:18:47,280 --> 00:18:49,600 Speaker 1: It's not just you asking yourself those questions, but literally 415 00:18:49,840 --> 00:18:52,040 Speaker 1: asking them those questions, right, because if you don't have 416 00:18:52,080 --> 00:18:55,320 Speaker 1: any idea what it is that could allow you to 417 00:18:55,600 --> 00:18:58,600 Speaker 1: further the negotiations or for further in this example, keeping 418 00:18:58,640 --> 00:19:01,400 Speaker 1: your rent low, let's right. And so what that means, 419 00:19:01,440 --> 00:19:03,520 Speaker 1: I think is oftentimes just asking some of these open 420 00:19:03,600 --> 00:19:08,159 Speaker 1: ended questions where you can courteously put the ball in 421 00:19:08,200 --> 00:19:11,639 Speaker 1: their court and allow them to potentially disclose some information 422 00:19:12,000 --> 00:19:14,280 Speaker 1: that can allow you to say, well, I can do that. 423 00:19:14,640 --> 00:19:17,159 Speaker 1: It's like, okay, you're you're looking for that, Like, I'm 424 00:19:17,280 --> 00:19:20,280 Speaker 1: happy to do that, and what'll that get me? That 425 00:19:20,440 --> 00:19:23,479 Speaker 1: information that you can glean from being an active listener 426 00:19:23,560 --> 00:19:25,280 Speaker 1: is going to be so important when it comes to 427 00:19:25,480 --> 00:19:28,160 Speaker 1: your ability, in this case, to save a bunch of money. 428 00:19:28,160 --> 00:19:31,200 Speaker 1: I think something it's so similar. Let's say you're buying 429 00:19:31,200 --> 00:19:34,320 Speaker 1: a house, and often times it's hard to know why 430 00:19:34,440 --> 00:19:37,080 Speaker 1: a buyer is selling, what their biggest pain point is, 431 00:19:37,080 --> 00:19:39,360 Speaker 1: and especially right now right is the market is softening. 432 00:19:39,800 --> 00:19:41,359 Speaker 1: You need to work with your realtor to ask some 433 00:19:41,400 --> 00:19:43,440 Speaker 1: of these more difficult questions so you can figure out, well, 434 00:19:43,440 --> 00:19:45,040 Speaker 1: how can I get the biggest discount on this house 435 00:19:45,040 --> 00:19:48,280 Speaker 1: that I that I want um by finding that person's 436 00:19:48,320 --> 00:19:50,640 Speaker 1: pain point, and maybe it is they need to be out, 437 00:19:50,640 --> 00:19:52,720 Speaker 1: they've bought a house in another state, and time is 438 00:19:52,760 --> 00:19:54,720 Speaker 1: of the essence. And so if you're able to close 439 00:19:54,760 --> 00:19:57,160 Speaker 1: in two weeks, let's talk about speed. Yeah, you might 440 00:19:57,160 --> 00:20:00,280 Speaker 1: be able to get an extra ten fi off of 441 00:20:00,320 --> 00:20:02,880 Speaker 1: the currently listed price. Right, or they might be willing 442 00:20:02,920 --> 00:20:04,560 Speaker 1: to take less money because they are worried that if 443 00:20:04,600 --> 00:20:06,440 Speaker 1: they move out of state that that house is going 444 00:20:06,440 --> 00:20:08,919 Speaker 1: to linger even longer, costing them more money in the future. 445 00:20:09,200 --> 00:20:10,560 Speaker 1: So these are the kind of things we're knowing the 446 00:20:10,600 --> 00:20:13,960 Speaker 1: pain point, asking the question and then listening well can 447 00:20:14,040 --> 00:20:17,240 Speaker 1: make a big difference in your ability to negotiate effectively. Yeah, 448 00:20:17,240 --> 00:20:19,840 Speaker 1: this is an instance we're having. Some flexibility is key 449 00:20:19,920 --> 00:20:22,200 Speaker 1: because if you can alter your plans a little bit, 450 00:20:22,440 --> 00:20:25,560 Speaker 1: if you can again meet them where they are, you 451 00:20:25,600 --> 00:20:27,919 Speaker 1: have an opportunity to save a lot of money. But 452 00:20:28,040 --> 00:20:31,240 Speaker 1: we're gonna talk about several other factors that are going 453 00:20:31,280 --> 00:20:34,480 Speaker 1: to help you to become a more effective negotiator, and 454 00:20:34,520 --> 00:20:36,480 Speaker 1: we will get to all of those right after this. 455 00:20:45,720 --> 00:20:47,480 Speaker 1: All Right, now we are we're kind of talking about 456 00:20:47,560 --> 00:20:51,040 Speaker 1: the the art of negotiation on today's episode. Haggling is 457 00:20:51,680 --> 00:20:54,880 Speaker 1: one way you can put it in some context. But yeah, 458 00:20:55,080 --> 00:20:57,359 Speaker 1: when we're talking I think I think there's a certain 459 00:20:57,440 --> 00:21:00,359 Speaker 1: art to it because if you can um play your 460 00:21:00,359 --> 00:21:02,760 Speaker 1: cards right and if you can know how get more 461 00:21:02,760 --> 00:21:05,280 Speaker 1: information on your side, and then if you can handle 462 00:21:05,320 --> 00:21:09,040 Speaker 1: the negotiation process in a more educated manner, there's more 463 00:21:09,119 --> 00:21:11,199 Speaker 1: of an opportunity for you to save more money and 464 00:21:11,240 --> 00:21:13,119 Speaker 1: make more money. So yeah, I think there's an element 465 00:21:13,160 --> 00:21:15,439 Speaker 1: of art when we're talking about negotiations, and it just 466 00:21:15,600 --> 00:21:19,159 Speaker 1: varies from item and to item or from instance to instance, 467 00:21:19,320 --> 00:21:21,640 Speaker 1: right like that, Like there's no like twelve step program 468 00:21:22,280 --> 00:21:24,240 Speaker 1: that you can go through. It's important to kind of 469 00:21:24,320 --> 00:21:27,280 Speaker 1: keep things, you know in mind some of these different factors, um, 470 00:21:27,480 --> 00:21:30,439 Speaker 1: not all of these will necessarily apply equally when it 471 00:21:30,480 --> 00:21:32,680 Speaker 1: comes to the wheel and dealing that you're doing. And 472 00:21:32,720 --> 00:21:34,760 Speaker 1: we're gonna try to give a lot of examples throughout 473 00:21:34,760 --> 00:21:37,200 Speaker 1: today's episode that will help you see, like, Okay, here's 474 00:21:37,400 --> 00:21:39,840 Speaker 1: everyday place in which it's gonna make sense for me, 475 00:21:39,920 --> 00:21:41,840 Speaker 1: and and here's maybe how I can tackle that or 476 00:21:41,880 --> 00:21:44,720 Speaker 1: where or where this piece of advice comes into play 477 00:21:46,000 --> 00:21:49,080 Speaker 1: more readily. But yeah, one one thing that's really important 478 00:21:49,080 --> 00:21:52,919 Speaker 1: when we're talking about negotiating effectively is knowing the market, 479 00:21:53,240 --> 00:21:56,000 Speaker 1: because another step when we're talking about getting more bang 480 00:21:56,080 --> 00:21:58,840 Speaker 1: for your buck, it involves doing your homework. And if 481 00:21:58,840 --> 00:22:01,720 Speaker 1: you don't know the market, you're bound to negotiate poorly 482 00:22:01,920 --> 00:22:04,400 Speaker 1: or get taken advantage of. It's it's gonna be hard 483 00:22:04,440 --> 00:22:06,600 Speaker 1: to know what to ask for. So if you're looking 484 00:22:06,640 --> 00:22:08,520 Speaker 1: to get some work done on your place, let's say 485 00:22:08,680 --> 00:22:12,240 Speaker 1: you know that often involves getting multiple quotes, and so 486 00:22:12,440 --> 00:22:15,400 Speaker 1: that the more information you have at your disposal, which 487 00:22:15,560 --> 00:22:16,840 Speaker 1: takes a little bit time, takes a little bit of 488 00:22:16,880 --> 00:22:19,440 Speaker 1: legwork to get those multiple quotes, the more informs you're 489 00:22:19,440 --> 00:22:21,720 Speaker 1: going to be, the more likely you're gonna be able 490 00:22:21,720 --> 00:22:25,120 Speaker 1: to negotiate well and make a wise decision. For instance, Matt, 491 00:22:25,160 --> 00:22:27,000 Speaker 1: like when we've talked about when it comes to getting 492 00:22:27,000 --> 00:22:29,400 Speaker 1: a mortgage on the home you're buying, or let's say 493 00:22:29,440 --> 00:22:33,359 Speaker 1: you're you're shopping around for a refinance shop with multiple lenders, right, 494 00:22:33,800 --> 00:22:36,720 Speaker 1: because that's going to give you this apples to apples comparison, 495 00:22:37,119 --> 00:22:39,320 Speaker 1: and I have negotiated with lenders before and said what 496 00:22:39,400 --> 00:22:43,120 Speaker 1: your origination fee is? But I've got this other uh, 497 00:22:43,160 --> 00:22:45,280 Speaker 1: this other lender and they said that the origination fee 498 00:22:45,320 --> 00:22:50,159 Speaker 1: is is seven seventy five fifty babe, right, yeah, my 499 00:22:50,200 --> 00:22:53,080 Speaker 1: costco refile last year. See that's too shabby. But when 500 00:22:53,119 --> 00:22:55,240 Speaker 1: you see the when it's written out in paper, you 501 00:22:55,240 --> 00:22:56,560 Speaker 1: have these quotes in front of you, then you can 502 00:22:56,600 --> 00:22:58,840 Speaker 1: kind of hit these providers against each other and you 503 00:22:58,880 --> 00:23:01,159 Speaker 1: can ask them to match somebody else's rate. But if 504 00:23:01,160 --> 00:23:03,280 Speaker 1: you don't have that information on hand, it's harder to 505 00:23:03,280 --> 00:23:04,920 Speaker 1: know what other people are offering. It's harder to even 506 00:23:04,920 --> 00:23:07,000 Speaker 1: know what to ask for. You're just kind of shooting 507 00:23:07,040 --> 00:23:09,480 Speaker 1: blindly in the dark asking for a discount, um. But 508 00:23:09,520 --> 00:23:11,879 Speaker 1: if you have information on your side, makes it a 509 00:23:11,880 --> 00:23:15,000 Speaker 1: whole lot easier to confidently ask for a better rate 510 00:23:15,080 --> 00:23:17,960 Speaker 1: or better terms. Totally. Yeah, negotiating your internet bill right like, 511 00:23:17,960 --> 00:23:21,720 Speaker 1: that's something we've encouraged for years now on how the money. Uh, 512 00:23:21,720 --> 00:23:24,159 Speaker 1: And it's not as difficult as it seems. But before 513 00:23:24,200 --> 00:23:26,639 Speaker 1: you hop on the phone, it's going to be incredibly 514 00:23:26,680 --> 00:23:29,119 Speaker 1: helpful for you to know the popular rates. So the 515 00:23:29,119 --> 00:23:31,879 Speaker 1: biggest providers are offering in your area, and so a 516 00:23:31,960 --> 00:23:34,760 Speaker 1: quick search you know of their website will arm you 517 00:23:34,800 --> 00:23:38,040 Speaker 1: with just helpful information. Basically, like the only information that 518 00:23:38,080 --> 00:23:40,760 Speaker 1: you need if you're trying to lower your Internet that 519 00:23:40,840 --> 00:23:43,199 Speaker 1: the price that you're paying their their TV ads the 520 00:23:43,200 --> 00:23:45,720 Speaker 1: little often tout special offers for new customers, and of 521 00:23:45,760 --> 00:23:47,600 Speaker 1: course you want the best rate out there. But knowing 522 00:23:47,720 --> 00:23:50,399 Speaker 1: what those best rates are, you know, knowing the market like, 523 00:23:50,560 --> 00:23:52,439 Speaker 1: that's going to give you the information to make the 524 00:23:52,520 --> 00:23:54,800 Speaker 1: right ask. Yeah, instead of saying, I just want twenty 525 00:23:54,800 --> 00:23:58,080 Speaker 1: bucks off every single month moving forward, you can say, actually, 526 00:23:58,119 --> 00:24:00,240 Speaker 1: here's an offer that I saw that you you have 527 00:24:00,320 --> 00:24:02,359 Speaker 1: on your website, and this is for new customers. But 528 00:24:02,400 --> 00:24:04,600 Speaker 1: I've been a loyal customer for three plus years or 529 00:24:04,640 --> 00:24:07,760 Speaker 1: something like that, and you know, I would prefer not 530 00:24:07,840 --> 00:24:10,639 Speaker 1: to go over to this other company that has a 531 00:24:10,640 --> 00:24:12,720 Speaker 1: better rate than what I'm paying now, But can you 532 00:24:12,720 --> 00:24:15,520 Speaker 1: match it. I'm a frugal guy, right, and I'll do it, yeah, 533 00:24:15,560 --> 00:24:17,239 Speaker 1: and really, but I would prefer to stay. I mean, 534 00:24:17,240 --> 00:24:20,480 Speaker 1: there's a way to to to go about this, but 535 00:24:20,560 --> 00:24:23,600 Speaker 1: so much of it involved having the right information, knowing 536 00:24:23,680 --> 00:24:26,119 Speaker 1: what's going on in the market. Total and timing is 537 00:24:26,160 --> 00:24:28,159 Speaker 1: part of that. Too, Matt, because there's a reason that 538 00:24:28,200 --> 00:24:30,200 Speaker 1: people are more apt, let's say, to get a deal 539 00:24:30,320 --> 00:24:32,000 Speaker 1: on a new car at the end of the month. 540 00:24:32,119 --> 00:24:34,600 Speaker 1: Not that we encouraged buying new cars, but because of 541 00:24:34,680 --> 00:24:37,760 Speaker 1: the reality of quotas in that industry, there's just a 542 00:24:38,080 --> 00:24:41,040 Speaker 1: higher necessity for that salesperson to make a sale. If 543 00:24:41,080 --> 00:24:43,959 Speaker 1: it's September, then if it's September one, right, and so 544 00:24:44,040 --> 00:24:46,320 Speaker 1: just because of the timing, the market conditions are more 545 00:24:46,400 --> 00:24:48,680 Speaker 1: ripe for you to be able to get a better deal. 546 00:24:48,720 --> 00:24:51,120 Speaker 1: You're starting out in a better position. But knowing that, 547 00:24:51,600 --> 00:24:53,720 Speaker 1: knowing that that's how the market works when you're buying 548 00:24:53,920 --> 00:24:56,800 Speaker 1: a new car, can help you use that to your advantage. 549 00:24:56,840 --> 00:24:59,080 Speaker 1: Whereas if you don't realize that, if that's not something 550 00:24:59,080 --> 00:25:02,000 Speaker 1: that's on your radar, you're liable to find yourself negotiating 551 00:25:02,040 --> 00:25:04,920 Speaker 1: at the wrong time, putting yourself at a bigger disadvantage. Yeah, 552 00:25:04,960 --> 00:25:07,640 Speaker 1: and basically what we're talking about here is we are 553 00:25:07,720 --> 00:25:10,720 Speaker 1: encouraging folks to put in the legwork, and this is 554 00:25:10,800 --> 00:25:15,320 Speaker 1: something that we are prone to avoid extra work. We 555 00:25:15,359 --> 00:25:17,640 Speaker 1: want things to be easy and handed to us, which 556 00:25:17,640 --> 00:25:20,320 Speaker 1: is why companies who are really good at providing a 557 00:25:20,400 --> 00:25:24,720 Speaker 1: service or providing a product on a silver platter. Oftentimes 558 00:25:24,800 --> 00:25:27,280 Speaker 1: we'll get folks business because folks don't want to go 559 00:25:27,440 --> 00:25:30,159 Speaker 1: through all of that. The due diligence, essentially when it 560 00:25:30,160 --> 00:25:32,040 Speaker 1: comes to shopping around, well, the easier we make it 561 00:25:32,080 --> 00:25:34,040 Speaker 1: for ourselves, the less likely we are to be able 562 00:25:34,080 --> 00:25:35,920 Speaker 1: to get get a deal, right, to save money or 563 00:25:35,960 --> 00:25:38,200 Speaker 1: to make more. And so you can take the easy path, 564 00:25:38,520 --> 00:25:40,960 Speaker 1: but the easy path isn't typically gonna work out best 565 00:25:41,000 --> 00:25:42,600 Speaker 1: for your bottom line. Yeah, And so as we're talking 566 00:25:42,600 --> 00:25:44,840 Speaker 1: about negotiating, you know, there are a number of more 567 00:25:45,119 --> 00:25:47,439 Speaker 1: like more subtle factors that are important to keep in 568 00:25:47,440 --> 00:25:50,000 Speaker 1: mind as well, in particular if you are talking to 569 00:25:50,040 --> 00:25:52,280 Speaker 1: somebody in person, right, like if you are talking with 570 00:25:52,320 --> 00:25:55,240 Speaker 1: a contractor about hey, let's let's talk about the cost 571 00:25:55,280 --> 00:25:58,160 Speaker 1: of this roof, or you're looking at gutters or something 572 00:25:58,240 --> 00:26:00,560 Speaker 1: like that. Um, and one the things you need to 573 00:26:00,600 --> 00:26:03,480 Speaker 1: keep in mind is your tone, right and so like, 574 00:26:03,520 --> 00:26:05,760 Speaker 1: if you're coming in with guns blazing, like, that's typically 575 00:26:05,880 --> 00:26:08,280 Speaker 1: gonna be like the opposite of how it is that 576 00:26:08,280 --> 00:26:11,080 Speaker 1: you're gonna want to approach a negotiation. Yeah you can, Yeah, 577 00:26:11,080 --> 00:26:12,720 Speaker 1: you don't want to necessarily start by being like, but 578 00:26:12,760 --> 00:26:14,560 Speaker 1: your work isn't very good, and so I actually get 579 00:26:14,600 --> 00:26:16,840 Speaker 1: a discount because you're not talented, or just like immediately 580 00:26:16,880 --> 00:26:19,720 Speaker 1: cutting straight to the price and just being confrontational about 581 00:26:19,800 --> 00:26:21,600 Speaker 1: how you're talking about the work that they're doing and 582 00:26:21,640 --> 00:26:23,840 Speaker 1: what they're charging. Uh. If you if you read the 583 00:26:23,880 --> 00:26:26,720 Speaker 1: book Never Split the Difference, the author Chris he talks 584 00:26:26,760 --> 00:26:31,720 Speaker 1: about using like this FM DJ voice that inflects downward, 585 00:26:32,240 --> 00:26:35,720 Speaker 1: kind of like a soothing yet in control voice. Uh. 586 00:26:35,760 --> 00:26:38,879 Speaker 1: And it's probably it's gonna be less necessary, you know, 587 00:26:39,080 --> 00:26:41,720 Speaker 1: like the smaller sorts of negotiating that we're talking about. 588 00:26:41,720 --> 00:26:43,760 Speaker 1: But but how you come across is going to impact 589 00:26:43,800 --> 00:26:47,200 Speaker 1: your ability to negotiate effectively. You know, you you'll likely 590 00:26:47,200 --> 00:26:49,639 Speaker 1: want to use a different tone depending on who you 591 00:26:49,680 --> 00:26:52,639 Speaker 1: are negotiating with, But being in control of your emotions 592 00:26:53,080 --> 00:26:55,080 Speaker 1: and using the right tone is going to be crucial. 593 00:26:55,160 --> 00:26:56,960 Speaker 1: And it makes me think about if you are like 594 00:26:57,040 --> 00:27:00,320 Speaker 1: budgeting with a significant other or your partner, if you're 595 00:27:00,320 --> 00:27:03,439 Speaker 1: coming in hots and you immediately, you know, are like 596 00:27:03,480 --> 00:27:06,639 Speaker 1: attacking them because maybe they overspent that month or maybe 597 00:27:06,920 --> 00:27:08,800 Speaker 1: you are not on the same page about where they 598 00:27:08,840 --> 00:27:11,680 Speaker 1: are spending their money. Well, how do you think they're 599 00:27:11,680 --> 00:27:13,679 Speaker 1: gonna respond. You know, I do a little bit of 600 00:27:13,760 --> 00:27:16,199 Speaker 1: role playing here. Imagine that scenario. We're just like you 601 00:27:16,200 --> 00:27:18,840 Speaker 1: can you spend how much on on what and you 602 00:27:18,920 --> 00:27:21,159 Speaker 1: might be able to efficiently communicate how it is that 603 00:27:21,240 --> 00:27:23,400 Speaker 1: you feel. But this is one of those areas where 604 00:27:23,400 --> 00:27:25,879 Speaker 1: efficiency is not the name of the game. It's you know, 605 00:27:25,920 --> 00:27:28,320 Speaker 1: it's about getting that person on board. You want to 606 00:27:28,320 --> 00:27:31,880 Speaker 1: be able to sink up with that person before finding 607 00:27:31,880 --> 00:27:34,920 Speaker 1: ways that you can both together identify what your financial 608 00:27:35,160 --> 00:27:37,399 Speaker 1: goals are. Sort of like you're saying earlier, Jill, like 609 00:27:37,720 --> 00:27:40,639 Speaker 1: this that would be maybe be an instance of winning 610 00:27:40,680 --> 00:27:44,000 Speaker 1: a particular battle but losing the overall war. Because as 611 00:27:44,000 --> 00:27:45,760 Speaker 1: someone who is right now listening to how the money, 612 00:27:45,920 --> 00:27:48,360 Speaker 1: that means you are most likely the financial nerd in 613 00:27:48,359 --> 00:27:50,560 Speaker 1: in whatever relationship you might be in. And so that 614 00:27:50,560 --> 00:27:53,320 Speaker 1: means you might have a reluctant spouse or partner. And 615 00:27:53,359 --> 00:27:55,320 Speaker 1: what that means is that you need to be patient 616 00:27:55,520 --> 00:28:00,280 Speaker 1: and understanding and uh, just I don't know kinds And 617 00:28:00,640 --> 00:28:02,320 Speaker 1: a lot of being kind is how it is that 618 00:28:02,359 --> 00:28:04,320 Speaker 1: you're talking to somebody. Well, let's say some new information 619 00:28:04,359 --> 00:28:06,920 Speaker 1: came to light and you realize that, wait, I'm getting 620 00:28:06,920 --> 00:28:09,040 Speaker 1: paid fifteen percent less than I, then I think I 621 00:28:09,080 --> 00:28:11,320 Speaker 1: should get paid are I now know a co worker 622 00:28:11,400 --> 00:28:13,560 Speaker 1: gets paid more than me and they've got less experience, 623 00:28:13,960 --> 00:28:16,879 Speaker 1: and so you might feel jilted. And so in that conversation, 624 00:28:17,280 --> 00:28:20,080 Speaker 1: your tone might reflect the fact that you feel like 625 00:28:20,119 --> 00:28:22,800 Speaker 1: you're getting screwed. And guess what, that is not the 626 00:28:22,800 --> 00:28:25,840 Speaker 1: best way to negotiate. That might make you feel the 627 00:28:25,840 --> 00:28:29,879 Speaker 1: most Catharsism by telling your employer that they have that 628 00:28:29,920 --> 00:28:33,680 Speaker 1: they've hurt you and that you deserve to get paid more. 629 00:28:34,040 --> 00:28:36,399 Speaker 1: Then that might be in reality that might be true, 630 00:28:36,720 --> 00:28:40,040 Speaker 1: but that is typically also the least effective way to negotiate. 631 00:28:40,200 --> 00:28:42,960 Speaker 1: By by letting your tone shift and kind of letting 632 00:28:43,320 --> 00:28:45,920 Speaker 1: letting that the way you've been you felt hurt kind 633 00:28:45,920 --> 00:28:47,760 Speaker 1: of dictate the conversation you I mean, you want to 634 00:28:47,760 --> 00:28:50,280 Speaker 1: be truthful, you want to use those facts, and so 635 00:28:50,280 --> 00:28:53,240 Speaker 1: it's not that you want to withhold information. I guess 636 00:28:53,240 --> 00:28:56,920 Speaker 1: that's up to you on how important and how revealing 637 00:28:56,920 --> 00:28:58,240 Speaker 1: you want to be with it with the cards that 638 00:28:58,280 --> 00:29:00,800 Speaker 1: you have, But you still want to approach conversation like 639 00:29:00,920 --> 00:29:03,120 Speaker 1: that with with the proper tone and not just your 640 00:29:03,120 --> 00:29:05,160 Speaker 1: tone as well. But like even it makes me think 641 00:29:05,200 --> 00:29:07,600 Speaker 1: of like, uh, like your body language, and like like 642 00:29:07,640 --> 00:29:10,000 Speaker 1: the different nonverbals that you're communicating as well, because you 643 00:29:10,080 --> 00:29:13,120 Speaker 1: might be saying one thing to your boss, but if 644 00:29:13,160 --> 00:29:15,680 Speaker 1: your face says something else, it doesn't matter what you're saying. 645 00:29:16,000 --> 00:29:19,040 Speaker 1: They see you grimacing, and so you have to find 646 00:29:19,040 --> 00:29:21,800 Speaker 1: a way to align the nonverbals with what it is 647 00:29:21,800 --> 00:29:23,360 Speaker 1: that you're saying. Man, it makes me think of there 648 00:29:23,400 --> 00:29:25,400 Speaker 1: was something where that came to light where you and 649 00:29:25,440 --> 00:29:28,520 Speaker 1: I had to negotiate something on behalf of our company, 650 00:29:28,800 --> 00:29:31,000 Speaker 1: and we could have used some information that came to 651 00:29:31,080 --> 00:29:33,760 Speaker 1: light to our advantage, but we realized that that wasn't 652 00:29:33,760 --> 00:29:36,320 Speaker 1: the best negotiating tactic, that it would have made us 653 00:29:36,440 --> 00:29:38,880 Speaker 1: seem like we were hurt by something that hadn't worked 654 00:29:38,920 --> 00:29:40,720 Speaker 1: out in our favor, and so there was a better 655 00:29:40,760 --> 00:29:42,680 Speaker 1: way to approach it, even if those facts on the 656 00:29:42,680 --> 00:29:46,360 Speaker 1: ground were true, and we need to have that conversation, right, Um, 657 00:29:46,440 --> 00:29:48,720 Speaker 1: But it makes me think about emotions, right, and how 658 00:29:49,040 --> 00:29:51,000 Speaker 1: you know, one of the ways that you keep your 659 00:29:51,040 --> 00:29:55,360 Speaker 1: tone aligned is by controlling your emotions. And if we 660 00:29:55,440 --> 00:29:59,160 Speaker 1: leave our emotions unchecked, it's gonna hurt our ability to negotiate. 661 00:29:59,240 --> 00:30:03,240 Speaker 1: So um, getting angry, irritated or or even allowing our 662 00:30:03,280 --> 00:30:06,360 Speaker 1: anxiety to kind of take over and allow fear to 663 00:30:06,440 --> 00:30:10,560 Speaker 1: kind of um run amuck can impact our ability to 664 00:30:10,680 --> 00:30:13,560 Speaker 1: have that productive conversation. And I think it's okay to 665 00:30:13,640 --> 00:30:16,840 Speaker 1: maybe be somewhat annoyed, even let's say, when you're negotiating, 666 00:30:16,960 --> 00:30:19,680 Speaker 1: because we are human, of course, But the crucial part, 667 00:30:20,000 --> 00:30:22,080 Speaker 1: the crucial thing, is to make sure that we're not 668 00:30:22,160 --> 00:30:24,800 Speaker 1: wearing those emotions on our sleeve. So we've got to 669 00:30:24,800 --> 00:30:26,720 Speaker 1: be able to find a way to prevent it from 670 00:30:26,760 --> 00:30:31,040 Speaker 1: impacting our our style, our tone, and our argument. Even 671 00:30:31,120 --> 00:30:33,440 Speaker 1: if you know we're not excited about how the conversation 672 00:30:33,560 --> 00:30:36,080 Speaker 1: is currently going, there's a way in which we can 673 00:30:36,160 --> 00:30:38,640 Speaker 1: keep those emotions in check which allows for us to 674 00:30:38,640 --> 00:30:41,560 Speaker 1: be able to work together with someone to achieve our goal, 675 00:30:41,680 --> 00:30:44,560 Speaker 1: even if the experience is kind of a frustrating one 676 00:30:44,760 --> 00:30:47,640 Speaker 1: makes me think, Matt, about a recent negotiation I've had 677 00:30:47,640 --> 00:30:50,120 Speaker 1: to have with a company that I bought a grill 678 00:30:50,200 --> 00:30:52,640 Speaker 1: from just at the fairy tale end of last year, 679 00:30:52,840 --> 00:30:55,560 Speaker 1: and I have a year long manufacturer's warranty. But this 680 00:30:55,640 --> 00:30:58,960 Speaker 1: grill sadly is having severe issues in many different ways, 681 00:30:59,320 --> 00:31:01,800 Speaker 1: and so the squirrel company keeps wanting to send me 682 00:31:01,920 --> 00:31:04,520 Speaker 1: little parts here and there to fix the problem. But 683 00:31:04,600 --> 00:31:06,480 Speaker 1: there are just too many issues going on with a 684 00:31:06,560 --> 00:31:08,480 Speaker 1: grill that a couple of parts, They're not going to 685 00:31:08,560 --> 00:31:11,040 Speaker 1: fix it. Lemon, I think it's a lemon. Just need 686 00:31:11,040 --> 00:31:12,680 Speaker 1: to send you a new grill, exactly, And so that's 687 00:31:12,720 --> 00:31:15,640 Speaker 1: what I'm pressing for. But I could easily allow my 688 00:31:15,760 --> 00:31:18,840 Speaker 1: annoyance at how long it's taking or their inability to 689 00:31:18,920 --> 00:31:21,840 Speaker 1: resolve things. I could let that, um, I could let 690 00:31:21,840 --> 00:31:24,040 Speaker 1: that frustration take over me, and it would really shut 691 00:31:24,040 --> 00:31:26,600 Speaker 1: things down. But I'm finding a way to keep my 692 00:31:26,680 --> 00:31:29,880 Speaker 1: tone upbeat and to keep my emotions at bay so 693 00:31:29,920 --> 00:31:32,440 Speaker 1: that I can continue to have a productive conversation with 694 00:31:32,480 --> 00:31:34,920 Speaker 1: the person who's ultimately I think gonna be able to 695 00:31:34,960 --> 00:31:37,280 Speaker 1: resolve this, uh, this problem in my favor. As the 696 00:31:37,320 --> 00:31:39,920 Speaker 1: time comes when you realize that it's time to go nuclear, 697 00:31:40,920 --> 00:31:42,920 Speaker 1: to start shouting on the phone, perhaps, I mean, I 698 00:31:43,600 --> 00:31:46,120 Speaker 1: guess it's important to keep your emotions in check, but 699 00:31:46,360 --> 00:31:49,000 Speaker 1: at times it's important to kind of deploy your emotions 700 00:31:49,080 --> 00:31:51,320 Speaker 1: if you do feel that the time is right. Most 701 00:31:51,320 --> 00:31:54,160 Speaker 1: of the time, yeah, most of ore, it's not gonna 702 00:31:54,160 --> 00:31:55,920 Speaker 1: work out, and usually it shuts things down and that 703 00:31:55,960 --> 00:31:58,360 Speaker 1: person has far less of a desire to help you 704 00:31:58,680 --> 00:32:00,800 Speaker 1: if you're being out of control, if you're being a baby, 705 00:32:01,080 --> 00:32:04,440 Speaker 1: and if you're the last resorts um and even still 706 00:32:04,480 --> 00:32:06,560 Speaker 1: you still want to treat. It's okay to be emotional 707 00:32:06,600 --> 00:32:08,760 Speaker 1: and to share how did you feel about something, but 708 00:32:08,920 --> 00:32:11,000 Speaker 1: you still need to treat the other person with respect. 709 00:32:11,600 --> 00:32:13,680 Speaker 1: Another component as well is that you need to be 710 00:32:13,720 --> 00:32:16,200 Speaker 1: willing to walk because if you just got to have 711 00:32:16,360 --> 00:32:19,720 Speaker 1: the item that you are negotiating for, I think your 712 00:32:19,800 --> 00:32:22,480 Speaker 1: negotiation skills are going to suffer. You know, like that's 713 00:32:22,480 --> 00:32:25,200 Speaker 1: another example of letting emotions run the show, and that's 714 00:32:25,200 --> 00:32:29,320 Speaker 1: gonna lead to poor results. Having a plan B that 715 00:32:29,440 --> 00:32:30,840 Speaker 1: is going to give you more of an ability to 716 00:32:30,880 --> 00:32:33,520 Speaker 1: walk away if you aren't able to get the terms 717 00:32:33,640 --> 00:32:35,720 Speaker 1: or to get the price that you're looking for, Because 718 00:32:35,760 --> 00:32:39,400 Speaker 1: if you're unwilling to walk away, then there's almost no 719 00:32:39,520 --> 00:32:41,360 Speaker 1: chance that you're going to be able to do the 720 00:32:41,400 --> 00:32:44,440 Speaker 1: work that it takes to get that item on better terms. 721 00:32:44,720 --> 00:32:48,160 Speaker 1: This is an instance where caring less is is essentially 722 00:32:48,160 --> 00:32:50,440 Speaker 1: going to be a winning strategy. It's not always easy, 723 00:32:50,480 --> 00:32:53,160 Speaker 1: but we think it is necessary. Uh. And again this 724 00:32:53,280 --> 00:32:56,680 Speaker 1: is when like you can make a confident decision and 725 00:32:56,800 --> 00:32:59,600 Speaker 1: walk away when you've done your homework, when you have 726 00:33:00,000 --> 00:33:02,160 Speaker 1: have participated in some market research and you know what's 727 00:33:02,160 --> 00:33:05,400 Speaker 1: out there, because it's difficult to say, well, well but 728 00:33:05,640 --> 00:33:07,600 Speaker 1: that's it, I'm I'm out of here, because well that 729 00:33:07,680 --> 00:33:09,760 Speaker 1: might be the only one, right, Like, if we're talking 730 00:33:09,800 --> 00:33:12,280 Speaker 1: about homes, for instance, if there are no other homes 731 00:33:12,880 --> 00:33:15,840 Speaker 1: in this particular neighborhood that you're you're looking to move into, 732 00:33:16,040 --> 00:33:19,080 Speaker 1: well you probably need to be a little bit more 733 00:33:19,080 --> 00:33:22,080 Speaker 1: careful with how you negotiate. But if they are like 734 00:33:22,120 --> 00:33:24,000 Speaker 1: six or seven homes in this neighborhood, well it's it's 735 00:33:24,000 --> 00:33:25,840 Speaker 1: gonna be a different story and you can more easily, 736 00:33:25,920 --> 00:33:28,160 Speaker 1: I think, walk away. And so having done that research, 737 00:33:28,280 --> 00:33:31,040 Speaker 1: that's really important. Although I will say in this particular example, 738 00:33:31,080 --> 00:33:33,080 Speaker 1: walking away from a home it is probably gonna be 739 00:33:33,120 --> 00:33:35,760 Speaker 1: one of the more difficult things, right because just the 740 00:33:35,800 --> 00:33:39,720 Speaker 1: way we process things, how we view houses or apartments 741 00:33:39,800 --> 00:33:43,920 Speaker 1: or wherever you're looking to potentially buy, like we see 742 00:33:44,080 --> 00:33:46,960 Speaker 1: we see our homes is almost like an extension of ourselves, right, 743 00:33:47,000 --> 00:33:49,600 Speaker 1: And so it's difficult to be like, Okay, does this 744 00:33:49,680 --> 00:33:52,440 Speaker 1: place provide me shelter? Is this a place where I 745 00:33:52,480 --> 00:33:54,760 Speaker 1: can sleep at night like, that's not how we view homes, 746 00:33:55,000 --> 00:33:57,960 Speaker 1: even though we would probably try to encourage folks to 747 00:33:58,440 --> 00:34:00,760 Speaker 1: think about their homes more in that way. Agreed, because 748 00:34:00,960 --> 00:34:03,200 Speaker 1: you almost have to in order to be a good negotiator, 749 00:34:03,280 --> 00:34:06,240 Speaker 1: and and you're right, you might really like a place, 750 00:34:06,360 --> 00:34:08,200 Speaker 1: but if you fall in love before you've actually been 751 00:34:08,239 --> 00:34:11,319 Speaker 1: able to negotiate effectively, you're probably gonna find yourself getting 752 00:34:11,360 --> 00:34:13,880 Speaker 1: bent over barrel and paying more than you like or 753 00:34:13,920 --> 00:34:15,840 Speaker 1: not getting the terms that you'd like. To be a 754 00:34:15,840 --> 00:34:18,960 Speaker 1: good negotiator really does involve removing some of those emotions 755 00:34:18,960 --> 00:34:21,440 Speaker 1: whenever possible and being willing to walk away as part 756 00:34:21,440 --> 00:34:24,160 Speaker 1: of that. Uh and so yeah. Another another tip mat 757 00:34:24,239 --> 00:34:26,840 Speaker 1: we would say for being able to negotiate effectively is 758 00:34:26,880 --> 00:34:29,600 Speaker 1: building rapport. And that's important because you're you're more likely 759 00:34:29,640 --> 00:34:31,840 Speaker 1: to do better for yourself when the person you're negotiating 760 00:34:31,880 --> 00:34:34,680 Speaker 1: with knows you or beliefs that your intentions are good. 761 00:34:35,040 --> 00:34:37,160 Speaker 1: And that doesn't mean that you've got to try and 762 00:34:37,200 --> 00:34:39,560 Speaker 1: become besties with everyone that you're trying to haggle with, 763 00:34:39,880 --> 00:34:41,879 Speaker 1: but finding some common ground can be a great way 764 00:34:42,200 --> 00:34:45,120 Speaker 1: to help that person feel more comfortable giving you a 765 00:34:45,160 --> 00:34:48,200 Speaker 1: discount or just more favorable terms, and so you can 766 00:34:48,320 --> 00:34:52,000 Speaker 1: use this tactic in so many potential negotiation areas, even 767 00:34:52,080 --> 00:34:54,560 Speaker 1: if you're just on the phone with the Internet company 768 00:34:54,600 --> 00:34:56,800 Speaker 1: like you mentioned, Matt, or if you're d d M 769 00:34:56,920 --> 00:34:58,839 Speaker 1: ing with a company on Twitter. The more you can 770 00:34:58,880 --> 00:35:01,480 Speaker 1: help them see you as an an individual with some 771 00:35:01,520 --> 00:35:04,840 Speaker 1: sort of similarity to them, it often helps the process. 772 00:35:04,840 --> 00:35:07,040 Speaker 1: And so that that can mean getting and using the 773 00:35:07,120 --> 00:35:09,000 Speaker 1: name of the person that you're talking to, making them 774 00:35:09,000 --> 00:35:12,399 Speaker 1: feel connected to you by using their actual name. If 775 00:35:12,440 --> 00:35:14,960 Speaker 1: Cindy picks up the phone and you're like, Hey, Cindy, 776 00:35:14,960 --> 00:35:17,040 Speaker 1: how's your day going, that's a great way to show 777 00:35:17,080 --> 00:35:19,080 Speaker 1: that you care. And it goes a long way that 778 00:35:19,120 --> 00:35:21,319 Speaker 1: you're you're using their name and like asking how their 779 00:35:21,360 --> 00:35:24,200 Speaker 1: day is going. That's another thing. Um, it can create 780 00:35:24,239 --> 00:35:27,560 Speaker 1: a common spark of humanity that makes them more likely 781 00:35:28,000 --> 00:35:30,600 Speaker 1: to do something to help you. Carrying just a little 782 00:35:30,640 --> 00:35:32,120 Speaker 1: bit can go a long way. I think most of 783 00:35:32,120 --> 00:35:34,360 Speaker 1: the times we don't want to, like we're speaking to 784 00:35:34,440 --> 00:35:36,960 Speaker 1: literally a one number person, just want to get it done. 785 00:35:37,000 --> 00:35:38,719 Speaker 1: You just want to get it done. But if we 786 00:35:38,800 --> 00:35:40,480 Speaker 1: just want to get it done, we're probably not going 787 00:35:40,520 --> 00:35:42,799 Speaker 1: to get the best result. Yeah, we're we're less likely to, 788 00:35:43,000 --> 00:35:45,399 Speaker 1: we believe. And sometimes they can just be as simple 789 00:35:45,440 --> 00:35:47,600 Speaker 1: as identifying like where they live, you know, like where 790 00:35:47,600 --> 00:35:51,359 Speaker 1: they're located, like geographically if they are your neighbor, well, 791 00:35:51,520 --> 00:35:54,520 Speaker 1: like that can initiate like one kind of discussion that 792 00:35:54,800 --> 00:35:57,680 Speaker 1: finds you know, a significant amount of common ground if 793 00:35:57,719 --> 00:36:00,000 Speaker 1: it's if you've listed something on Facebook and they can 794 00:36:00,000 --> 00:36:02,200 Speaker 1: over your place or vice versa. But even if they 795 00:36:02,200 --> 00:36:05,120 Speaker 1: don't live in your community. I think there are often 796 00:36:05,160 --> 00:36:08,960 Speaker 1: ways to build rapport via like a location specific discussion. 797 00:36:09,120 --> 00:36:11,800 Speaker 1: But the truth is that you won't always have common 798 00:36:11,840 --> 00:36:14,439 Speaker 1: ground with everyone that that you're trying to negotiate with, 799 00:36:14,920 --> 00:36:17,960 Speaker 1: especially if we're talking about, you know, a phone conversation 800 00:36:18,560 --> 00:36:22,040 Speaker 1: with a utility company. But but you can help that 801 00:36:22,080 --> 00:36:24,960 Speaker 1: person to feel understood, which creates trust. And so what 802 00:36:25,080 --> 00:36:27,359 Speaker 1: is it that they need to feel like they've done 803 00:36:27,360 --> 00:36:31,319 Speaker 1: a done their job well? Because knowing what success looks 804 00:36:31,360 --> 00:36:33,680 Speaker 1: like for them can help you to to kind of 805 00:36:33,760 --> 00:36:36,040 Speaker 1: usher in that that win win scenario, like we talked 806 00:36:36,080 --> 00:36:37,920 Speaker 1: about early on, like do they have one of those 807 00:36:37,920 --> 00:36:39,439 Speaker 1: surveys that takes place at the end of the call 808 00:36:39,520 --> 00:36:40,960 Speaker 1: and they're like you can be like, hey, I'm not 809 00:36:41,000 --> 00:36:42,520 Speaker 1: sure if you're doing a survey, but I would love 810 00:36:42,560 --> 00:36:45,879 Speaker 1: to give you high remarks. You're doing a fantastic job, 811 00:36:45,960 --> 00:36:51,319 Speaker 1: exactly right. Those little things man a job for me, Like, okay, 812 00:36:51,360 --> 00:36:52,560 Speaker 1: So it makes me think of too, Like I keep 813 00:36:52,560 --> 00:36:54,680 Speaker 1: thinking about Facebook because I've been listening so much stuff 814 00:36:54,680 --> 00:36:57,680 Speaker 1: on Facebook. But I listed a TV, an old TV 815 00:36:57,760 --> 00:36:59,279 Speaker 1: that we had, but it was a nice TV. It 816 00:36:59,320 --> 00:37:02,160 Speaker 1: was the same song, and guy was interested. He came over. 817 00:37:02,200 --> 00:37:04,080 Speaker 1: He was checking it out, and he starts in the 818 00:37:04,360 --> 00:37:07,640 Speaker 1: negotiating process on me, and he's just like, all right, 819 00:37:07,680 --> 00:37:09,680 Speaker 1: you know how much how much would you would you 820 00:37:09,680 --> 00:37:11,319 Speaker 1: be wanting to take you know, this much off? And 821 00:37:11,360 --> 00:37:14,120 Speaker 1: he's there in person. He's nobody else has shown up 822 00:37:14,120 --> 00:37:15,600 Speaker 1: to look at it, like this guy is here. And 823 00:37:15,680 --> 00:37:18,840 Speaker 1: so he's like, okay, I know this guy wants to 824 00:37:18,880 --> 00:37:21,239 Speaker 1: get rid of this thing he started having having his 825 00:37:21,280 --> 00:37:24,200 Speaker 1: TV in his garage. His wife wants it gone. That's me. 826 00:37:25,160 --> 00:37:27,040 Speaker 1: But I thought, man, like I think that that TV 827 00:37:27,160 --> 00:37:29,319 Speaker 1: is priced fairly. This is me thinking, you know, in 828 00:37:29,400 --> 00:37:31,640 Speaker 1: my in my own head. And so what I highlighted 829 00:37:31,640 --> 00:37:33,239 Speaker 1: I was I was just like, I'm not sure this 830 00:37:33,280 --> 00:37:35,160 Speaker 1: is this is a Samsung, Like this is one of 831 00:37:35,160 --> 00:37:37,279 Speaker 1: the best TV's out there, Like the picture quality on 832 00:37:37,320 --> 00:37:39,799 Speaker 1: this thing, it's you know, it's a lot better than 833 00:37:39,840 --> 00:37:42,040 Speaker 1: a lot of the other TV's out there. And he 834 00:37:42,080 --> 00:37:46,200 Speaker 1: immediately joins in. Basically it's like, oh, I totally agree. 835 00:37:46,239 --> 00:37:49,120 Speaker 1: Like the TV I've got right now, it's garbage. And 836 00:37:49,200 --> 00:37:52,960 Speaker 1: he basically he begins to talk himself into paying full 837 00:37:53,000 --> 00:37:55,800 Speaker 1: price for my TV because what we've identified our common 838 00:37:55,800 --> 00:38:00,719 Speaker 1: ground is that same song makes quality televisions. And by 839 00:38:00,760 --> 00:38:02,440 Speaker 1: the end of it, he was very He's like, you 840 00:38:02,480 --> 00:38:03,960 Speaker 1: know what, Okay, let's just go ahead and do this, 841 00:38:04,239 --> 00:38:06,480 Speaker 1: and he paid my asking price. He was happy, I 842 00:38:06,520 --> 00:38:08,960 Speaker 1: was happy, and we were able to make that deal happen. 843 00:38:09,040 --> 00:38:10,719 Speaker 1: And that common ground was that him and I we 844 00:38:10,840 --> 00:38:13,840 Speaker 1: both believe that Samsung makes a superior television. You go, 845 00:38:14,640 --> 00:38:18,560 Speaker 1: I'm actually either, by the way, because we've actually talked 846 00:38:18,600 --> 00:38:20,960 Speaker 1: about that before. Actually, how the failure rate on those 847 00:38:21,000 --> 00:38:25,759 Speaker 1: televisions on just regardless of brand, it's pretty minimal. So Matt, 848 00:38:25,760 --> 00:38:27,600 Speaker 1: even though I'm gonna disagree with you on that, um, 849 00:38:28,120 --> 00:38:30,480 Speaker 1: we can still agree to disagree, Crystal clear Baby, Still, 850 00:38:30,760 --> 00:38:32,360 Speaker 1: that was still a good point. Though We've got just 851 00:38:32,440 --> 00:38:34,920 Speaker 1: a few more thoughts when it comes to negotiation, and 852 00:38:34,920 --> 00:38:37,160 Speaker 1: and we we should cover even maybe some more ways 853 00:38:37,160 --> 00:38:40,200 Speaker 1: that people can implement negotiation as a tactic into their 854 00:38:40,239 --> 00:38:44,080 Speaker 1: everyday life so that it feels less daunting and hopefully 855 00:38:44,080 --> 00:38:45,960 Speaker 1: they can get more from it. We'll talk more about 856 00:38:46,000 --> 00:38:57,000 Speaker 1: that right after this, all right, So maybe during that 857 00:38:57,000 --> 00:38:59,480 Speaker 1: commercial break, you're thinking about some of the different companies, 858 00:38:59,680 --> 00:39:02,120 Speaker 1: some of the different instances where you could do some 859 00:39:02,280 --> 00:39:07,600 Speaker 1: negotiating dollars a month, make it seven fifty this kind 860 00:39:07,640 --> 00:39:09,839 Speaker 1: of in half. So one of the other tips, one 861 00:39:09,840 --> 00:39:11,120 Speaker 1: of the other things we want you to keep in 862 00:39:11,160 --> 00:39:13,440 Speaker 1: mind is to know who it is that you are 863 00:39:13,480 --> 00:39:16,880 Speaker 1: going to be able to negotiate with, because negotiating with 864 00:39:16,920 --> 00:39:19,319 Speaker 1: the wrong person is a real mistake that that folks make. 865 00:39:19,680 --> 00:39:21,560 Speaker 1: Um and I know this should kind of really be 866 00:39:21,600 --> 00:39:23,600 Speaker 1: like a no duh kind of point, but it's not 867 00:39:23,719 --> 00:39:26,520 Speaker 1: as intuitive as you might think. And if you're talking 868 00:39:26,560 --> 00:39:29,440 Speaker 1: to someone who has no authority over the terms or 869 00:39:29,480 --> 00:39:32,240 Speaker 1: over the price, uh, if they don't have the ability 870 00:39:32,280 --> 00:39:34,560 Speaker 1: to make any concessions, and you're just wasting your time. 871 00:39:35,239 --> 00:39:37,719 Speaker 1: So kind of going back to the internet example, if 872 00:39:37,719 --> 00:39:39,799 Speaker 1: you're talking to the wrong department, you're gonna be spending 873 00:39:39,800 --> 00:39:42,319 Speaker 1: your wheels and so it's important to to ask some 874 00:39:42,360 --> 00:39:44,400 Speaker 1: of these pointed questions to find out who you need 875 00:39:44,440 --> 00:39:46,759 Speaker 1: to talk to so that you aren't wasting your time 876 00:39:46,800 --> 00:39:50,440 Speaker 1: and your energy or getting just shut down just because 877 00:39:50,480 --> 00:39:53,080 Speaker 1: you haven't found the proper decision makers. Right. Yeah, So 878 00:39:53,120 --> 00:39:56,360 Speaker 1: we've always said that social media in general and Twitter 879 00:39:56,440 --> 00:39:59,839 Speaker 1: specifically are are kind of the best avenues for negotiating 880 00:40:00,000 --> 00:40:02,360 Speaker 1: an Internet bill that's too high. If you prefer to 881 00:40:02,400 --> 00:40:04,520 Speaker 1: talk on the phone, that's fine. You want to make 882 00:40:04,520 --> 00:40:07,200 Speaker 1: sure that you get through to the customer retention department. 883 00:40:07,600 --> 00:40:10,279 Speaker 1: Those are the people with real clout who can negotiate 884 00:40:10,320 --> 00:40:12,400 Speaker 1: with you to help you get a better deal. If 885 00:40:12,400 --> 00:40:14,799 Speaker 1: you're talking to someone, let's say in another department, or 886 00:40:14,880 --> 00:40:17,359 Speaker 1: you're just taking the wrong path, there's an awfully good 887 00:40:17,440 --> 00:40:20,279 Speaker 1: chance that you're gonna end up getting stymied and you're 888 00:40:20,360 --> 00:40:22,600 Speaker 1: not going to get a better deal. They're gonna say 889 00:40:22,640 --> 00:40:25,160 Speaker 1: it's not available because they don't have the power. You 890 00:40:25,200 --> 00:40:28,120 Speaker 1: haven't reached the right person, they don't have the authority 891 00:40:28,200 --> 00:40:30,799 Speaker 1: to basically say, yes, you know what, you saw this 892 00:40:30,840 --> 00:40:33,080 Speaker 1: deal elsewhere, we can match that. We'll give it to 893 00:40:33,080 --> 00:40:35,600 Speaker 1: you for twelve months. Who you talk to makes all 894 00:40:35,640 --> 00:40:38,359 Speaker 1: the difference in your ability to negotiate. If you're talking 895 00:40:38,360 --> 00:40:40,879 Speaker 1: to someone that doesn't have the power, you're almost never 896 00:40:40,920 --> 00:40:43,319 Speaker 1: going to have an effective end result that that works 897 00:40:43,320 --> 00:40:45,360 Speaker 1: for you. That's right. Yeah, And you know the question 898 00:40:45,440 --> 00:40:48,480 Speaker 1: is who should make the first offer because it's gonna 899 00:40:48,480 --> 00:40:51,919 Speaker 1: depend uh. In many cases, you're gonna want the other 900 00:40:52,000 --> 00:40:54,040 Speaker 1: party to throw out the first number. This is like 901 00:40:54,080 --> 00:40:57,480 Speaker 1: I'm specifically thinking about when you're asking for a raise, 902 00:40:57,880 --> 00:41:00,600 Speaker 1: because you don't want to limit the potential upside by 903 00:41:00,600 --> 00:41:03,239 Speaker 1: starting off with a pay suggestion that's gonna come in 904 00:41:03,320 --> 00:41:05,160 Speaker 1: way too way too low, that's gonna be way too weak. 905 00:41:05,160 --> 00:41:07,520 Speaker 1: That's when a potential employer often they ask the tricky 906 00:41:07,600 --> 00:41:08,840 Speaker 1: question of like, well, would you can pay to your 907 00:41:08,880 --> 00:41:10,840 Speaker 1: last job? And you're gonna want to be really careful 908 00:41:11,200 --> 00:41:13,680 Speaker 1: with how you answer that. You're not likelihood avoiding a 909 00:41:13,680 --> 00:41:17,600 Speaker 1: specific number or maybe even avoiding a range, like finding 910 00:41:17,600 --> 00:41:19,799 Speaker 1: a way to answer that diplomatically so you're not giving 911 00:41:19,800 --> 00:41:22,920 Speaker 1: away too much information. And luckily more employers are offering 912 00:41:23,280 --> 00:41:26,719 Speaker 1: ranges of pay rather than just a particular salary or 913 00:41:26,760 --> 00:41:29,399 Speaker 1: just not disclosing salary at all. But when you're buying 914 00:41:29,400 --> 00:41:32,520 Speaker 1: a physical item, you know whether it's it's new or used. 915 00:41:32,920 --> 00:41:35,279 Speaker 1: The starting price has almost always been given, but so 916 00:41:35,360 --> 00:41:38,560 Speaker 1: much depends on the specific context and whether or not 917 00:41:38,760 --> 00:41:41,000 Speaker 1: you have the data. Again, so much of this comes 918 00:41:41,000 --> 00:41:43,000 Speaker 1: back to you having done your homework, you having done 919 00:41:43,040 --> 00:41:44,719 Speaker 1: the research. But if you have the data to back 920 00:41:44,800 --> 00:41:48,840 Speaker 1: you up, then you can oftentime make a pretty confident 921 00:41:48,920 --> 00:41:51,759 Speaker 1: offer on an item. And another important question to ask 922 00:41:51,760 --> 00:41:54,280 Speaker 1: yourself is what state is the iteman because it's often 923 00:41:54,400 --> 00:41:57,840 Speaker 1: easier to negotiate the price of a clearance model or 924 00:41:58,080 --> 00:42:00,719 Speaker 1: a scratch intent appliance. Let's say then it would be 925 00:42:00,800 --> 00:42:03,160 Speaker 1: on an item that is in high demand, right that 926 00:42:03,200 --> 00:42:06,000 Speaker 1: everybody wants um, it's it's everybody wants it to be 927 00:42:06,239 --> 00:42:09,479 Speaker 1: packaged and perfect and on that silver platter exactly. And 928 00:42:09,640 --> 00:42:11,719 Speaker 1: there's a lot of items where if if it isn't 929 00:42:11,760 --> 00:42:13,920 Speaker 1: high demand, let's say beanie babies back in the day, 930 00:42:13,920 --> 00:42:16,120 Speaker 1: it's gonna sell out in like in like twenty four 931 00:42:16,120 --> 00:42:18,640 Speaker 1: hours regardless, Like you're not gonna get a discount on that. 932 00:42:18,680 --> 00:42:20,719 Speaker 1: But if it lingers on the shelf longer, there's more 933 00:42:20,760 --> 00:42:22,680 Speaker 1: of a chance there's that there's gonna be wiggle room 934 00:42:22,680 --> 00:42:24,520 Speaker 1: for you to get a better price. It also makes me. 935 00:42:24,560 --> 00:42:26,920 Speaker 1: Think about, like, um, negotiating at a place like a 936 00:42:26,920 --> 00:42:29,880 Speaker 1: pawn shop. That's that's more expected, right, or the seller 937 00:42:29,960 --> 00:42:34,200 Speaker 1: on Craigslist, like the medium is often helps determine whether 938 00:42:34,320 --> 00:42:36,480 Speaker 1: or not you're gonna be able to negotiate effectively. It's 939 00:42:36,480 --> 00:42:39,120 Speaker 1: easier to negotiate in those places than it is let's say, 940 00:42:39,160 --> 00:42:41,919 Speaker 1: at your local grocery store on a pint of ice cream. 941 00:42:42,080 --> 00:42:44,120 Speaker 1: But that also doesn't mean that it's not possible in 942 00:42:44,160 --> 00:42:46,400 Speaker 1: some of those contexts. And so some ways that you 943 00:42:46,400 --> 00:42:49,040 Speaker 1: can negotiate, even in a situation where it doesn't seem 944 00:42:49,080 --> 00:42:51,640 Speaker 1: normal is to I don't know, like ask for a 945 00:42:51,640 --> 00:42:54,160 Speaker 1: bulk discount. Could you get ten percent off? Let's say, 946 00:42:54,200 --> 00:42:57,440 Speaker 1: if you purchased a case or one thing I've been 947 00:42:57,440 --> 00:42:59,759 Speaker 1: able to use over the years, not at different times, 948 00:42:59,840 --> 00:43:02,040 Speaker 1: is to check the expiration date, and if that item 949 00:43:02,120 --> 00:43:04,560 Speaker 1: is about to expire, uh, the store is often gonna 950 00:43:04,560 --> 00:43:06,239 Speaker 1: prefer to sell it to you for less than to 951 00:43:06,239 --> 00:43:08,960 Speaker 1: throw it away. We've talked about buying tuls for my wife, 952 00:43:09,160 --> 00:43:11,919 Speaker 1: and I realized that if I go in on Wednesdays, well, 953 00:43:12,239 --> 00:43:14,279 Speaker 1: typically they're gonna expire on Thursday or something like that. 954 00:43:14,440 --> 00:43:17,759 Speaker 1: That's right, Yeah, you get a big discount. Or let's 955 00:43:17,760 --> 00:43:20,560 Speaker 1: say that the steaks in the meat meat department are 956 00:43:20,600 --> 00:43:23,040 Speaker 1: expiring tomorrow. You can go up to the meat manager 957 00:43:23,080 --> 00:43:25,200 Speaker 1: and say, hey, listen, can I get thirty percent off 958 00:43:25,200 --> 00:43:27,040 Speaker 1: the stakes? Or you can find a way to ask 959 00:43:27,040 --> 00:43:28,759 Speaker 1: a question to get a cheaper price. Hey, are you 960 00:43:28,840 --> 00:43:31,000 Speaker 1: just gonna throw these away otherwise? Because how can I 961 00:43:31,000 --> 00:43:32,840 Speaker 1: get them for a better price? You're like, Hey, I 962 00:43:32,880 --> 00:43:34,680 Speaker 1: know you're about to put the red stakes out, but 963 00:43:34,719 --> 00:43:38,319 Speaker 1: you can sell me these gray steaks, these stakes that 964 00:43:38,560 --> 00:43:40,880 Speaker 1: kind of look like a rainbow, right, you don't want 965 00:43:40,960 --> 00:43:44,280 Speaker 1: rainbow steaks man for any price? Me, You're you definitely 966 00:43:44,320 --> 00:43:46,640 Speaker 1: want to avoid. So basically what we're saying here is 967 00:43:46,640 --> 00:43:48,879 Speaker 1: that it doesn't hurt to ask, right, and so whether 968 00:43:48,960 --> 00:43:51,000 Speaker 1: that's just asked, like straight up just asking for a 969 00:43:51,040 --> 00:43:54,279 Speaker 1: discount code, or just asking if there's a sale coming soon, 970 00:43:54,520 --> 00:43:56,600 Speaker 1: like sometimes you're gonna be able to get that better 971 00:43:56,640 --> 00:44:00,320 Speaker 1: price now, even if it's not a currently advertised lower price. 972 00:44:00,520 --> 00:44:01,920 Speaker 1: Kind of going back to what you're saying, you're talking 973 00:44:01,920 --> 00:44:04,920 Speaker 1: about a like busted up packaging. Well, major retailers like 974 00:44:04,960 --> 00:44:08,040 Speaker 1: Home Depot, Target, best Buy, like they will give you 975 00:44:08,280 --> 00:44:10,919 Speaker 1: a serious discount. Much of the time, just if you ask. 976 00:44:11,480 --> 00:44:13,719 Speaker 1: Open box items are already cheaper, but you can often 977 00:44:13,719 --> 00:44:16,239 Speaker 1: score additional dollars off just by asking. Some of these 978 00:44:16,239 --> 00:44:18,759 Speaker 1: retailers will match the price and take up to like 979 00:44:18,760 --> 00:44:21,479 Speaker 1: an additional temperson off. Yeah, sometimes just knowing, just because 980 00:44:21,520 --> 00:44:24,680 Speaker 1: you're willing their policy or their tendency can give you 981 00:44:24,719 --> 00:44:26,480 Speaker 1: a big leg up because you're like, well, i've heard 982 00:44:26,480 --> 00:44:28,160 Speaker 1: that you do this, Is that true? Um Or I've 983 00:44:28,160 --> 00:44:30,399 Speaker 1: seen on your website that you'll price match and give 984 00:44:30,400 --> 00:44:32,439 Speaker 1: an additional discount. Will you do that in this case? 985 00:44:32,480 --> 00:44:34,920 Speaker 1: Because here's because here's the math, like and here's or 986 00:44:34,960 --> 00:44:37,879 Speaker 1: here's here's the price that your competitor. Can you match 987 00:44:37,920 --> 00:44:39,719 Speaker 1: and then beat it for me? And that sometimes you 988 00:44:39,760 --> 00:44:42,640 Speaker 1: don't even have to necessarily negotiate. You just have to 989 00:44:42,680 --> 00:44:44,680 Speaker 1: know what the policy is so that you can use 990 00:44:44,680 --> 00:44:47,040 Speaker 1: it to your advantage. And I think one thing that 991 00:44:47,120 --> 00:44:52,040 Speaker 1: maybe keeps people from often from negotiating at all, uh 992 00:44:52,120 --> 00:44:55,600 Speaker 1: much less negotiating effectively is the fear of rejection that 993 00:44:55,680 --> 00:44:58,080 Speaker 1: keeps them from me being trying, right, I mean? And 994 00:44:58,120 --> 00:45:00,400 Speaker 1: I think one helpful way maybe to get over some 995 00:45:00,480 --> 00:45:03,120 Speaker 1: of that fear when it comes to negotiating is to 996 00:45:03,200 --> 00:45:05,680 Speaker 1: consider the worst case scenario, if you don't get the 997 00:45:05,760 --> 00:45:08,160 Speaker 1: terms you really want, is it really that bad? Like? 998 00:45:08,239 --> 00:45:11,359 Speaker 1: What what are the downside potentials? Because the reality is 999 00:45:11,520 --> 00:45:13,319 Speaker 1: that it's often not as bad as you think it is. 1000 00:45:13,600 --> 00:45:16,919 Speaker 1: And when we've got those secondary and tertiary plans figured 1001 00:45:16,960 --> 00:45:19,040 Speaker 1: out ahead of time, when we have a plan B, C, 1002 00:45:19,239 --> 00:45:21,319 Speaker 1: and D, we don't feel the pressure to take a 1003 00:45:21,360 --> 00:45:24,480 Speaker 1: losing deal to nearly the same degree. In negotiation, it's 1004 00:45:24,520 --> 00:45:26,600 Speaker 1: not something we do every day, and so, but it's 1005 00:45:26,640 --> 00:45:28,960 Speaker 1: our goal to see people use it more frequently. We 1006 00:45:28,960 --> 00:45:30,520 Speaker 1: think it's kind of like a muscle that you've gotta 1007 00:45:30,640 --> 00:45:32,960 Speaker 1: that you gotta flex, and the more you flex that muscle, 1008 00:45:33,040 --> 00:45:35,480 Speaker 1: the better you're gonna get at it, the more comfortable 1009 00:45:35,560 --> 00:45:38,040 Speaker 1: you're gonna get doing it and making it uh something 1010 00:45:38,040 --> 00:45:41,720 Speaker 1: that you kind of incorporate more frequently into your shopping 1011 00:45:41,760 --> 00:45:44,279 Speaker 1: trips and into your conversations with your boss, all that 1012 00:45:44,320 --> 00:45:46,879 Speaker 1: kind of stuff. As you get more comfortable, you're gonna 1013 00:45:46,880 --> 00:45:49,000 Speaker 1: find a slew of ways to negotiate as you go 1014 00:45:49,040 --> 00:45:51,399 Speaker 1: through every day of life. Um, and the other side 1015 00:45:51,520 --> 00:45:53,319 Speaker 1: might not even you know, whoever it is that you're 1016 00:45:53,320 --> 00:45:56,000 Speaker 1: negotiating with. They may not realize that that is what 1017 00:45:56,040 --> 00:45:59,520 Speaker 1: you are actually doing, right, because unlike popular sentiment, negotiation 1018 00:45:59,560 --> 00:46:04,320 Speaker 1: doesn't have to be this adversarial process with this scarcity mindset. 1019 00:46:04,520 --> 00:46:06,279 Speaker 1: It also doesn't have to be this formal thing where 1020 00:46:06,280 --> 00:46:10,000 Speaker 1: you sit down that the negotiating table and ultimately becoming 1021 00:46:10,080 --> 00:46:13,279 Speaker 1: a smart negotiator is going to pay dividends and many 1022 00:46:13,320 --> 00:46:15,840 Speaker 1: facets of your life for years to come. You know, 1023 00:46:15,960 --> 00:46:18,920 Speaker 1: like we truly do believe that flexing that negotiating muscle, 1024 00:46:19,239 --> 00:46:21,120 Speaker 1: that it is good for all of us, just like 1025 00:46:21,160 --> 00:46:23,640 Speaker 1: time management, taking it back to the beginning, if you 1026 00:46:23,680 --> 00:46:25,120 Speaker 1: are good at that, that is going to serve you 1027 00:46:25,160 --> 00:46:26,840 Speaker 1: for the rest of your of your life and in 1028 00:46:26,880 --> 00:46:29,560 Speaker 1: the same way we think that negotiating will be able 1029 00:46:29,640 --> 00:46:32,799 Speaker 1: to serve you. Well, yeah, man, negotiating is is a 1030 00:46:32,800 --> 00:46:34,799 Speaker 1: winning strategy and I think it's a lot of fun too. Again, 1031 00:46:34,840 --> 00:46:36,960 Speaker 1: if we see like a game, it can and it 1032 00:46:37,000 --> 00:46:38,960 Speaker 1: can make it easier to implement because it's like, oh, yeah, 1033 00:46:39,040 --> 00:46:40,319 Speaker 1: let me try this thing out, let me see how 1034 00:46:40,360 --> 00:46:42,520 Speaker 1: it goes, and you can kind of like, yeah, test 1035 00:46:42,560 --> 00:46:45,160 Speaker 1: and see how some of these tactics work. And I'd 1036 00:46:45,160 --> 00:46:46,600 Speaker 1: be curious to know matter if any how, the money 1037 00:46:46,640 --> 00:46:49,279 Speaker 1: listeners maybe kind of start to use this a little 1038 00:46:49,280 --> 00:46:51,600 Speaker 1: more readily, and how it pays off for you shooters, 1039 00:46:51,680 --> 00:46:53,600 Speaker 1: email let us know how it goes. Yeah, if you 1040 00:46:53,800 --> 00:46:55,719 Speaker 1: get a win under your belt, to let us know. 1041 00:46:55,760 --> 00:46:57,040 Speaker 1: We want to hear about it so we can share 1042 00:46:57,080 --> 00:46:59,879 Speaker 1: with listeners. Joel, let's take it back to the beer. 1043 00:47:00,280 --> 00:47:03,680 Speaker 1: You and I enjoyed a grisette by Jester King, and 1044 00:47:03,680 --> 00:47:06,279 Speaker 1: this one is re fermented with cherries. What were your 1045 00:47:06,280 --> 00:47:07,960 Speaker 1: thoughts on this one, buddy? Well, first, this is a 1046 00:47:08,000 --> 00:47:12,040 Speaker 1: beer style that's sadly almost nobody makes. And every time 1047 00:47:12,080 --> 00:47:14,319 Speaker 1: I've had a grisette, there's like I can only think 1048 00:47:14,320 --> 00:47:15,799 Speaker 1: of like three or four I've had in my life. 1049 00:47:16,120 --> 00:47:18,880 Speaker 1: They've all been epically good. It's just a rarity, like 1050 00:47:18,960 --> 00:47:21,440 Speaker 1: almost nobody makes them. And so it's a typically a 1051 00:47:21,480 --> 00:47:25,320 Speaker 1: Belgian style farmhouse or says on. Yeah, it's like heavy 1052 00:47:25,320 --> 00:47:28,080 Speaker 1: on the wheat factor, but also there's usually like a 1053 00:47:28,120 --> 00:47:31,640 Speaker 1: funkiness and definitely a flunkiness, and this one is is funky, 1054 00:47:31,640 --> 00:47:33,440 Speaker 1: but it's all I've never had a grisette actually with 1055 00:47:33,480 --> 00:47:35,680 Speaker 1: fruit in it before, so this one had cherries in it, 1056 00:47:35,760 --> 00:47:37,959 Speaker 1: which is one of my favorite fruits to put in beer. 1057 00:47:38,280 --> 00:47:40,000 Speaker 1: And it's by Jester King, which is one of the 1058 00:47:40,000 --> 00:47:42,640 Speaker 1: best breweries in our country in all likelihood, and and 1059 00:47:42,680 --> 00:47:44,520 Speaker 1: so I thought this one was great, man, I really 1060 00:47:44,600 --> 00:47:47,799 Speaker 1: enjoyed it. It was it was light, but had that 1061 00:47:47,840 --> 00:47:49,880 Speaker 1: weedy element and had that cherry vibe going in a 1062 00:47:49,880 --> 00:47:51,920 Speaker 1: little bit tart. I thought it was delicious. It's one 1063 00:47:51,960 --> 00:47:53,640 Speaker 1: of the better beers I've had from Jester King. Yeah, 1064 00:47:53,680 --> 00:47:55,520 Speaker 1: what's great about a beer like this is I mean, 1065 00:47:55,560 --> 00:47:57,640 Speaker 1: so basically it's a sour. I think that's maybe the 1066 00:47:57,680 --> 00:47:59,680 Speaker 1: best way to think about it. Um. But with a 1067 00:47:59,719 --> 00:48:02,319 Speaker 1: beer this you get a lot of complexity. And so 1068 00:48:02,440 --> 00:48:05,680 Speaker 1: if you are someone who enjoys maybe some of those 1069 00:48:05,680 --> 00:48:09,040 Speaker 1: barrel aged stouts because you like all the different flavors 1070 00:48:09,040 --> 00:48:11,560 Speaker 1: that that you can taste within that beer, but it's 1071 00:48:11,600 --> 00:48:13,080 Speaker 1: not the middle of winter and you want to switch 1072 00:48:13,080 --> 00:48:14,719 Speaker 1: it up and go something a little bit lighter. This 1073 00:48:14,800 --> 00:48:17,680 Speaker 1: is definitely a style beer that I would recommend because 1074 00:48:17,680 --> 00:48:20,960 Speaker 1: there are just so many nuances that go into making 1075 00:48:21,040 --> 00:48:24,000 Speaker 1: something like this. Again, pretty much everything by Jester King 1076 00:48:24,040 --> 00:48:28,000 Speaker 1: is fantastic. It's nuanced in the way that negotiations. Right, 1077 00:48:28,160 --> 00:48:29,880 Speaker 1: I'm gonna read this here on their label says we 1078 00:48:29,920 --> 00:48:32,320 Speaker 1: brew what we like drink what we want and offer 1079 00:48:32,360 --> 00:48:36,120 Speaker 1: the rest to those who share our tastes. That's pretty bold. 1080 00:48:36,120 --> 00:48:38,120 Speaker 1: But if you're making beer as good as they are, 1081 00:48:38,160 --> 00:48:40,319 Speaker 1: I guess that's something you can get away with right 1082 00:48:40,360 --> 00:48:42,719 Speaker 1: down on your label, that's right. You can afford to 1083 00:48:42,719 --> 00:48:45,000 Speaker 1: be cocky. I guess you make beer as good a 1084 00:48:45,080 --> 00:48:47,239 Speaker 1: jester king dust. But don't be cocky when it comes 1085 00:48:47,239 --> 00:48:49,640 Speaker 1: to how it is you negotiate and treat other people. 1086 00:48:50,160 --> 00:48:52,240 Speaker 1: All right, Joel, that's gonna do it for this episode. 1087 00:48:52,280 --> 00:48:54,200 Speaker 1: Listeners can find our show notes up on our website 1088 00:48:54,200 --> 00:48:55,880 Speaker 1: at how to money dot com. We'll see back here 1089 00:48:55,920 --> 00:48:57,799 Speaker 1: on Friday with our Friday Flight, and we're gonna break 1090 00:48:57,840 --> 00:49:00,000 Speaker 1: down some of the news that you've been hearing about 1091 00:49:00,160 --> 00:49:02,920 Speaker 1: this week. So until next time, best Friends Out, Best 1092 00:49:02,960 --> 00:49:03,759 Speaker 1: Friends Out,