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  • 7 Negotiation Secrets 1691438899

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    Codie Sanchez provides 7 secrets for successful negotiation: 1) Simplify the negotiation process by focusing on understanding the other party's wants, why they want it, and how to help them achieve it; 2) Leverage reciprocity bias by making concessions to build indebtedness; 3) Apply loss aversion by framing negotiations around potential losses rather than gains; 4) Use recency bias by emphasizing recent successes and events; 5) Support arguments with data and concrete metrics; 6) Consider negotiations from the other party's perspective and link outcomes to their interests; 7) Assume a positive outcome to increase confidence and persuasiveness.

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    Codie Sanchez provides 7 secrets for successful negotiation: 1) Simplify the negotiation process by focusing on understanding the other party's wants, why they want it, and how to help them achieve it; 2) Leverage reciprocity bias by making concessions to build indebtedness; 3) Apply loss aversion by framing negotiations around potential losses rather than gains; 4) Use recency bias by emphasizing recent successes and events; 5) Support arguments with data and concrete metrics; 6) Consider negotiations from the other party's perspective and link outcomes to their interests; 7) Assume a positive outcome to increase confidence and persuasiveness.

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    3 views9 pages

    7 Negotiation Secrets 1691438899

    Uploaded by

    rajuhsem
    Codie Sanchez provides 7 secrets for successful negotiation: 1) Simplify the negotiation process by focusing on understanding the other party's wants, why they want it, and how to help them achieve it; 2) Leverage reciprocity bias by making concessions to build indebtedness; 3) Apply loss aversion by framing negotiations around potential losses rather than gains; 4) Use recency bias by emphasizing recent successes and events; 5) Support arguments with data and concrete metrics; 6) Consider negotiations from the other party's perspective and link outcomes to their interests; 7) Assume a positive outcome to increase confidence and persuasiveness.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 9

    Codie Sanchez

    @Codie_Sanchez

    7 negotiation secrets
    so you can finally get
    what you’re worth:
    Codie Sanchez
    @Codie_Sanchez

    If you want to get rich,


    master negotiation.

    • A salary raise
    • An investment
    • Business deals

    It doesn't matter.

    7 negotiation secrets:
    Codie Sanchez
    @Codie_Sanchez

    Simplify the Process


    Deep down, humans
    are not complicated.
    There are only 3 questions to ask:

    • What do they want?


    • Why do they want it?
    • How can I help them get it
    (while still winning myself)?

    Unnecessary complexity
    breeds inefficient negotiation.
    Codie Sanchez
    @Codie_Sanchez

    Build Indebtedness
    Ever heard of the Reciprocity Bias?

    In a nutshell: humans return favors.

    How can you leverage this?

    • Give them a gift


    • Do them a favor
    • Make a concession

    They'll likely return the favor.


    Codie Sanchez
    @Codie_Sanchez

    Apply Loss Aversion

    People fear loss more


    than they desire gain.
    Frame your negotiation around
    what they will LOSE rather than
    what they will gain.

    • We will save $X
    • The timing will never be this perfect

    The game changes when the


    risk of loss enters the room.
    Codie Sanchez
    @Codie_Sanchez

    Leverage Recency Bias


    Our minds tend to weigh recent
    information more heavily.

    Use this natural bias to your


    advantage in negotiations.
    • Use recent successes
    • Bring up relevant recent events

    You're only as good as your


    last project.
    Codie Sanchez
    @Codie_Sanchez

    Use Data
    Let the numbers do the talking.
    Words are cool but numbers convince.

    Get a list of all your:


    • Core metrics
    • Relevant KPIs (that your boss cares about)
    • Concrete list of things you've accomplished

    Data sells. Leverage it.


    Codie Sanchez
    @Codie_Sanchez

    Put Yourself in Their Shoes

    Everyone has motives.


    Appeal to them.
    Link whatever it is you want with
    what THEY will get in return.

    (Hint: it's often revenue linked)

    Examples:
    • My role will drive $X
    • This software will save us $Y

    It's about them, not you.


    Codie Sanchez
    @Codie_Sanchez

    Assume a Positive Outcome


    How you enter a negotiation
    creates a self-fulfilling prophecy.

    When you walk in fearless, you


    become more:
    • Logical
    • Confident
    • Thoughtful

    The result? A more persuasive


    argument and a higher positive
    response rate.

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