Unlock Negotiation Gold – Part 2
In our previous video, we discussed the frustration of leaving a negotiation feeling you could have done better.
Now, we’re diving deeper. In this video, I share three powerful strategies to help you secure the outcomes you deserve—confidently and effectively.
Don’t let deals slip through your fingers or create complications down the line. Watch now to learn how to negotiate smarter and avoid unnecessary legal entanglements later.
Here’s to your next successful deal!
VIDEO TRANSCRIPT
Ross Millen:
Hi. I wanted to finish up giving you some tips and tricks to make your negotiation as effective as possible. Remember, last time I said never bet against yourself and always try to make the other side go first. Well, two more things to bear in mind I think are that timing is everything, as a very astute Australian businessman once said. So sometimes you can put the pressure of timing on the other side. You can say, "Look, I'm authorized to make an offer, or I can make this offer today, but you've got a time period to accept. Otherwise, we have to get the lawyers involved," or something else is going to happen. So it's like you've got to take the offer today. Sometimes that works.
On the other side, if someone says that to you, I always think if they make an offer today, the same offer will be there tomorrow. So sometimes you can think, "Oh, I don't really like this, but I better take it because they're going to take it off the table." I always think, "Look, I need some time to think about this. I've got to go back and talk to my business partner or shareholders," or, "I want to think about it, talk to my spouse," et cetera. Buy yourself a bit of time to think about it and then go back and say, look, it wasn't really something you could accept, but it's getting close. So timing, timing is everything as far as that goes.
Another thing, and I know this is an old one, is good cop, bad cop. If you can get two people involved in the negotiation, and one might say, "Oh, your offer's okay, maybe I could accept it. But, oh, Fred, No way. You're going to have to do something better to get Fred over the line, but I think you could give us this, and now I can talk to Fred and maybe convince him to accept your better offer."
So use good cop, bad cop, where appropriate and where you can, to try and influence people to think, "Look, I'm really on your side trying to get the deal over the line." And the final thing I'll say to you is, when you've done a deal, make sure you get us to document it. So it's in a binding way so people can't walk away from it at a later date. So I hope these have been useful for you. I hope your negotiations are always successful. Remember, I'm Ross Millen from Millens. If you need any help, give us a call.
