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CHAPTER 13. NEGOTIATING. FINANCIAL PYRAMID CREDIT SAVINGS & GOAL PLANNING FINANCIAL DECISION MAKING NEGOTIATING BUDGETING. NEGOTIATING.

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chapter 13
CHAPTER 13

NEGOTIATING

slide2
FINANCIALPYRAMID

CREDIT

SAVINGS

&

GOAL PLANNING

FINANCIAL

DECISION MAKING

NEGOTIATING

BUDGETING

slide3
NEGOTIATING

LIFE IS A STRING OF NEGOTIATIONS, HOW WELL YOU NEGOTIATE WILL OFTEN DETERMINE YOUR FINANCIAL SUCCESS OR FAILURE IN LIFE!

negotiation outcomes
NEGOTIATION OUTCOMES
  • WIN – WIN
  • WIN – LOSE
  • LOSE – WIN
  • LOSE – LOSE

IF YOU APPROACH A NEGOTIATION WITH THE INTENTION OF ANYTHING BUT WIN - WIN YOU WILL ALMOST ALWAYS LOSE.

negotiating plan of action
NEGOTIATING PLAN OF ACTION
  • HAVE A GOAL
  • KNOW COMMON TYPES OF RESISTANCE
  • KNOW METHODS OF NEGOTIATING RESISTANCE
  • PREPARE NEGOTIATION WORKSHEET
activities during negotiations
ACTIVITIES DURING NEGOTIATIONS
  • RECOGNIZE AND UNDERSTAND VERBAL & NON VERBAL CLUES
  • FIND SOME POINT OF AGREEMENT
  • DO NOT ALLOW ANGER TO SURFACE
activities during negotiations1
ACTIVITIES DURING NEGOTIATIONS
  • ATTEMPT TO GET SALESPERSON TO MAKE CONCESSIONS
  • BE ALERT FOR WHEN SALESPERSON IS CONCEDING
budget limitation tactic
BUDGET LIMITATIONTACTIC

EXAMPLE:

I LIKE THE PRODUCT BUT MY BUDGET

WILL ONLY ALLOW $5,200. I DO NOT LIKE

ANYTHING ELSE THAT YOU HAVE HERE IN

THE STORE. (DON’T LET THEM SELL YOU

SOMETHING LESS EXPENSIVE)

split the difference tactic
SPLIT THE DIFFERENCE TACTIC

EXAMPLE:

YOU ARE AT $6,300 AND I AM AT $5,200

LETS SPLIT THE DIFFERENCE AND CALL IT

$5,750. (THIS WAY WE BOTH WIN, YOU

EAT SOME OF THE COST AND I DO TO.)

take it or leave it tactic
TAKE IT OR LEAVE IT TACTIC

EXAMPLE:

*THIS SHOULD BE THE LAST TACTIC USED*

“TELL THEM $5,750 OR I AM WALKING”

IF THIS TACTIC DOES NOT WORK THEN

REMIND THEM THEY HAVE YOUR NUMBER, WALK AWAY

AND IF THE PRICE IS WORKABLE THEY WILL STOP

YOU OR CALL YOU AND MAKE THE DEAL.

CONGRATULATIONS YOU JUST GOT YOUR PRICE!

negotiations
NEGOTIATIONS

IMPORTANT!!!!!

ALWAYS REMEMBER NOT TO MAKE

CONCESSIONS TOO QUICKLY OR EASILY

AND ALWAYS GET SOMETHING IN RETURN.

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