Key insights

• ⚠️ Start by claiming to be bad at negotiating to lower the other party's guard
• 💰 Focus on the value of the deal rather than the price
• 🔄 Consider the context and specific circumstances when negotiating
• 🗣️ Clear communication is essential to understand others' wants and needs
• 😊 Avoid spending too much time negotiating and focus on making others happy
• 🌱 Consider future collaborations when negotiating deals
• 💸 Categorize expenses into low, medium, and high and negotiate or cancel accordingly
• 🔙 Using chargebacks to get a company's attention and resolve issues

Q&A

• What negotiation strategy was mentioned in the video?

  The speaker offered a 20% discount, used a power move by stating the offer and staying silent, resulting in sealing the deal with a $1000 discount on the sauna. The reference to the movie 'Snatch' was used for humor and to emphasize the negotiation technique.

• How can I use chargebacks in negotiation?

  Chargebacks can be used to get a company's attention, resolve issues, and negotiate for better deals. It's crucial to emphasize the importance of staying calm and detached during negotiations.

• How can I negotiate prices effectively?

  To negotiate prices effectively, you can categorize expenses into low, medium, and high, seeking discounts accordingly. It's also important to stay silent after giving the number. Additionally, chargeback can be used to negotiate and reverse a charge with a credit card company.

• What factors should I consider when negotiating deals and pricing?

  When negotiating deals and pricing, it's important to consider the potential for future collaborations, understand the actual value being negotiated, and conduct regular reviews of recurring costs and their return on investment.

• What should I prioritize during negotiations?

  Clear communication, understanding others' wants and needs, and prioritizing positive experiences without guilt-tripping others is essential. Building and maintaining long-term relationships is also important.

• How should I start negotiating for better prices?

  You can start by claiming to be bad at negotiating to lower the other party's guard and focus on the value of the deal rather than the price. Considering the context and specific circumstances, such as leasing a space or managing credit card statements, is also crucial.

• 00:00 The speaker shares key approaches to negotiating for better prices, including starting with the statement 'I'm really bad at negotiating' and focusing on the value of the deal.
• 01:19 Communicate clearly and aim to make others happy without guilt-tripping them. Prioritize positive experiences and maintain long-term relationships.
• 02:14 Negotiating deals and pricing involves considering the potential for future collaborations, understanding the actual value being negotiated, and conducting regular reviews of recurring costs.
• 03:16 Negotiate prices by categorizing the expenses and seeking discounts, and remember to stay silent after giving the number. Chargeback can be used to negotiate and reverse a charge with a credit card company.
• 04:13 Using chargebacks as a way to get a company's attention and negotiate for better deals; emphasizing the importance of staying calm and detached when negotiating.
• 05:09 Negotiation strategy: offered 20% discount and used power move to seal the deal, resulting in $1000 off the price of the sauna. Reference to movie 'Snatch'.