Categories: Personal finance

#543: How to Handle 7 Types of Hardball Negotiation Tactics, so You Can Earn More and Spend Less

Picture this: You’re at a car dealership, trying to get the best price on your dream car. The salesperson hits you with a “take it or leave it” offer. Your palms are sweaty, your heart’s racing. What do you do?

That’s just one of the tricky situations we dive into in this episode. We’re tackling seven types of hardball negotiation tactics that can trip you up in all sorts of situations – from asking for a raise to haggling at a flea market.

First up, we break down the “take it or leave it” tactic. We share a real-life story of Sarah, a software developer, facing this exact situation in a job interview. You’ll hear how she turned it around and got what she wanted.

Next, we talk about psychological warfare. Sounds intense, right? It can be. We tell you about Emma, a graphic designer, who had to deal with a client trying to throw her off her game. You’ll learn how she kept her cool and came out on top.

Ever heard of the “good cop, bad cop” routine? It’s not just in movies. We share a story of how this played out in a business deal and give you tips on how to spot it and handle it like a pro.

Then there’s the “snow storm” – when someone dumps so much information on you that your head spins. We break down how to cut through the clutter and focus on what really matters.

We also cover what to do when someone’s holding back important info, how to spot a fake-out (when someone pretends to care about one thing but really wants another), and the sneaky “nibbling” tactic where people ask for just one more small thing… and then another… and another.

For each tactic, we give you the lowdown on:

– What it looks like in action

– Why it works (yep, there’s some psychology involved)

– How you can spot it

– What you can do to counter it

We wrap up with a handy checklist for each tactic. Think of it as your negotiation cheat sheet. By the end of the episode, you’ll have a toolkit of strategies to help you navigate tough negotiations, whether you’re buying a car, negotiating your salary, or just trying to decide where to go for dinner with your friends.

Remember, negotiation isn’t about “winning” at all costs. It’s about finding solutions that work for everyone. With the tips from this episode, you’ll be better equipped to do just that, even when things get tricky.

Timestamps:

Note: Timestamps will vary on individual listening devices due to dynamic ad lengths

0:35 Introduces five pillars of financial management

1:56 Outlines seven challenging negotiation scenarios

2:27 Explains “take it or leave it” offer tactic

4:53 Role-play: Sarah negotiates job offer

18:28 Discusses psychological warfare in negotiations

24:51 Strategies for handling psychological warfare

26:28 Explains “good cop, bad cop” routine

32:28 Role-play: good cop, bad cop tactic

44:23 Describes information overload tactic

47:31 Role-play: information overload in action

54:40 Explains information withholding tactic

1:00:11 Role-play: information withholding in car sales

1:06:00 Discusses “fake out” negotiation tactic

1:11:20 Role-play: job candidate uses fake out

1:14:40 Explains “nibbling” tactic and counters

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