listen no matter what you do in life
you’re always negotiating whether you’re
dealing with your boyfriend girlfriend
husband wife kids boss parents family
cousins it doesn’t matter you’re always
negotiating so the sooner you become a
better negotiator and learn the mistakes
you’re making the better of results
you’ll start getting when it comes down
to negotiating so today I’m going to
talk to you about the 14 common mistakes
people make when it comes down to
negotiate now there’s a lot more out
there I’m just giving you 14 of a number
one letting your emotions get in the way
when you’re negotiating let me explain
what I mean by this it doesn’t matter
what it is if a parent goes to school
and is talking to principal because
their kid did something wrong the parent
always thinks their kids are perfect and
they don’t make mistake because it’s
their product the same when you’re
selling a house to somebody else
you always think your house is worth
more than it really is because it’s your
house you’ve been living in it for eight
years nine years the market would
generally tell you what your play of
what your house is worth what your car
is worth whatever you’re selling so you
got to figure out a way to put yourself
out of the situation and kind of be a
consultant looking in instead of being
somebody that’s an involved involved
emotionally in it where you don’t
typically end up negotiating the proper
way so you can’t get let your emotions
get into especially if the other person
says I think this thing’s only worth
$4,000 you think it’s 10,000 you’re
absolutely furious you may lose a deal
there and you got to kind of figure out
away what it is number two
misinterpretation of position this is
very important because sometimes you’re
talking to somebody and they say
something and you get upset they didn’t
mean what you thought they meant so
instead of getting upset ask two or
three or four more question probing
questions to ask them what their what
they mean by this do you mean this do
you mean this not that’s not at all what
I’m saying I’m saying this because of
this oh I didn’t even think about that
okay no problem so a lot of times deals
don’t go through because there’s not
enough questions being asked because the
two parties negotiating misinterpreted
each other right so you got to make sure
you get a lot more questions there so
this doesn’t happen number three
research research research do as much
research as you can let me give you a
story here we had a case where somebody
contacted us they wanted me to
in this documentary and hold this
documentary is going to have a Buddha in
it and Tony Rob all this stuff and
sounded so fancy and we want you to be
an associate producer and we’re sitting
there saying why this is pretty exciting
so this is something well maybe we’ll
entertain want to be a part of until we
found out that the executive producer
that was a part of it had had a major
major scandal New York Times type of
scandal that he was dealing with from a
relationship with a younger girl all
this other stuff the moment we found
that out we back then we said we’re not
even doing any business with this we
almost did we almost did because we
didn’t do research so one of the things
I want to tell you is this video is
sponsored by fiber and one of the things
I love that fiber does fiber offers a
service where people will literally
research any topic you want for you
they’ll research any topic for you so if
you have a topic to say hey I’m
generated in negotiate with this company
what can you find out about this company
or what can you find out about the real
estate market today what can you find
out about Bitcoin today what can you
find out about such-and-such today
somebody will sit there and they’ll
research for you and typically you can
find out who does a better job I
normally recommend choosing three people
if you really want some solid research
I’d rather pay three different people
$50 a pop they use one person because I
can figure out which ones doing a better
research then I’ll go use that other
person so if you’ve never used fiber
before go try this service side you can
always go out and right now have a
relationship with them if you use the
coupon code Pat bet Pat bet you will get
a 20% discount so if it’s $150 20% $30
off so be sure to go use that service on
researching for yourself on any topic
you want to do number four go into the
source I like to go to the source I
remember a long time ago when I was
getting contracts with insurance
companies and I was currently talking to
all these VPS vice-presidents oh yeah
we’ll try to get a deal for you oh yeah
we’ll try to get a deal friend and all
of a sudden I said you know what I’m
going straight to the stores I found
that every insurance company CEOs I
found that all of these guys are human
beings like you and I they have a
LinkedIn they have a contact information
they know people that have information
that I know so I reached out to them
eventually I got a hold of these CEOs
direct phone I spoke to my tell us and
here’s Who I am here’s what I’m looking
for
I’m looking for contract I just started
a company I like your company when can
we get together and talk can you come
here tomorrow yes I flew to Chicago
struck up a deal with a CEO came back we
had an insurance company to work with
because I went directly to the source
many times you got to go straight to the
source number 5 leverage let me tell
what I mean by leverage leverage is no
one who has the leverage I think people
negotiate with people as if they have
the power and they don’t let me explain
so let’s just say me and a bank are
having a problem here together the bank
has given me 50 million dollars for my
business
ok the bank is absolutely upset with me
we won our 50 million we’ve given you 50
million dollars and this is our 50
million dollars if they push me to the
edge I can file bankruptcy they lose 50
million dollars so they need to
understand leverage there they need to
make sure I stay in business because if
I stay in business I can pay them back
that is a leverage right there so you
need to know your position of leverage
not just necessarily going in there
pounding your fist on the table and
saying this is what I demand from you if
you don’t have proper leverage it will
work against you number 6 not listening
it’s pretty simple sometimes the whole
thing about misinterpretation the more
you listen you’ll start seeing signs and
you’ll start seeing exactly what’s
important to them and you’ll start
seeing what they’re not willing to
negotiate with and that’ll help you get
to the final decision or a sooner number
7 no one went to walk away and when not
to walk away I will tell you from
personal mistakes I have sometimes
walked away way too early and it costs
me millions of dollars and app sometimes
walked away too late and it costs me a
lot of hours okay from experience you’ll
generally make this thing tighter where
you’ll be able to save more money make
more money and save more time and make
more time to do other things but there
are times where you’re into it and you
may not like somebody or you may not
like something that was said but that
doesn’t mean you’re not going to do
business with them unpeel it a little
bit more and all of a sudden some could
happen there sometimes patient is
important many times you can tell a deal
and say look we were just doing a deal
and I told the guys to listen I want to
do this deal but I’m not going to
based on these guidelines if you have
something better honestly go
I’m just here waiting if you want to do
something like this I’m open then we
came back two months later and we ended
up doing a deal because we were patient
about it so you need to know your
position where you are with that number
eight too extreme too soft too hard you
push too hard
you’re too soft if you’re too soft
you’re showing a weak position maybe
your products not as good if you’re too
hard maybe the other person says this
person is going to be difficult to do
business with you’ve got to kind of
figure out a way to be balanced with
them while you’re dealing with them
number nine understanding the
personality I was doing a negotiation
with this one gage $100,000,000 guy two
weeks ago and we’re on a call he
interrupts me three times on a call I
don’t mind it but he interrupts me three
times so when he interrupted me three
times I interrupted him and I said
listen I just hope you understand it I
have zero problem if you interrupt me
okay but I hope you also don’t have a
prime if I interrupt you he says I have
no problem with that our relationship
was so good because we both understood
what level were comfortable with and a
negotiation went well there are people
that will not even interrupt you till
you’re done with your sentence and then
you got to know they’re expecting the
same thing in return so sometimes you
got to read personalities when you’re
negotiating on where there are some
people are more sensitive than others
when you’re dealing with more sensitive
people if you still want the deal to get
done you’ve got to be able to read that
other human being better number ten
letting people know how you do business
I told this guy Mario told me reminded
me this yesterday two days ago he says
Pat you’ve probably said this line
hundreds of times in meetings I’ll sit
with somebody I’m doing business with
and I want a long-term relationship with
them I’ll tell them I said listen I’m
not looking for in one-night stand
I’m done with one-night stand I’m
looking for marriage if you want to
marry me why don’t we start dating and
then from there possibly we’ll put a
ring on each other and then one day
we’ll get married but I’m looking for a
marriage not a one-night stand what are
you looking for I also wanted mirrors
well why don’t we start solving around
this on how we can make this
relationship last a long time so you
make millions we make millions are you
okay with that yes so explain to people
how you do business with people number
11 caring too much this kind of goes a
little bit into the emotion set when
you’re caring too much about the deal
because you have it personal many times
the deal may not get done just because
you care way too much about the deal 12
focusing only on the money there are a
lot of negotiation negotiating books out
there that wants you to get all the
money and all this other stuff and
listen I play that card as well where
it’s all about how much of the money I’m
going to get myself but then what
happens in this case is that person
walks away I said this on a call the
other day I told this guy said listen if
we do business two months later I
realize you got the better end of the
deal you’re not going to get the better
version of me so what do you want to do
and he says yeah you’re right pad that
kind of does make sense well what can we
do for you not to feel that but said
this is my number and it says well
that’s kind of fair I said well I want
to be able to do this if you can you
give me this other part what about if I
want this I said that’s no problem to me
but I want you to make sure that here’s
what I’m looking for so negotiating just
for the money there are some freedoms
and some other things you can negotiate
that may be important or to them that’s
more important than money parts so don’t
always just leave it on the money side
number 13 trying to beat the other
person negotiation of transact I had
somebody that we had in our lives two
years ago okay every conversation with
her she had to win like literally it was
only about beating you in the
conversations I stopped talking so we’re
just sitting there said what I’m going
to talk to you about what what other
conversation do you want to win you want
to win another one keep winning there is
no point of negotiating with this person
or even trying to have a relationship
with this person because it was always
about beating the other person it was
always about winning the argument and
there’s not a lot that you can do with
that part so when negotiating with
people you got to know can’t just be
about beating the other person that’s
about I want to keep doing business and
this person is going to talk to five
other people I want them to come back
and want to do business with me number
fourteen not seeking other options
every time somebody at the Home Office
comes up to me with a deal Pat this is
going to cost us $100,000 it’s going to
cost us six hundred thousand dollars it
kind of cost us $50,000 no matter what
deal they ever come to me with I always
ask one question how many other options
do we have do we have three options if
it’s only one option no it’s not enough
I want
I always want three options on the house
I want to buy three options for vacation
home I’m looking at three options for
car I want to buy three options for
technology want to do three options for
person we want to hire three options for
somebody we’re bringing in as everything
is about three options when I have three
options I can say decipher through the
three and say this is the one I want to
go with not the other two so you want to
have options when you’re negotiating
gives you a leverage and last but not
least I had this on this side here
knowing your Batna which is best
alternative to negotiated agreement
here’s what that means it means here the
guy offers me $10,000 I know in the back
of my mind I got $11,000 somebody else I
wants to do it so my number is 11,000 he
has to do Bobby 11,000 for me to do
business with them in the back of my
mind my batman’s $11,100 let’s just say
I’m walking over because I got a $11,000
deal so I know my conversation with this
is not a it’s not a big challenge
because if it doesn’t happen I got 11 K
waiting for me in anything you’re doing
always know you’re back now and the more
bad night’s you more clear you are with
your Batna it gives you leverage when
you’re negotiating with whoever you are
negotiating with so having said that
having said that by the way there are a
lot of other things when it comes up to
negotiation with mistakes this is just a
simple short video for you to be
thinking about on some of the things you
may be doing they can adjust and
remember last but not least fiber path
bet 20% off on any of the services you
use with fiber if you got any questions
thoughts comments about this video
comment on the bottom and if you haven’t
subscribed to the channel yet click you
to subscribe and click the alert button
to be part of the notification squad
take everybody bye-bye [Music]
you’re always negotiating whether you’re
dealing with your boyfriend girlfriend
husband wife kids boss parents family
cousins it doesn’t matter you’re always
negotiating so the sooner you become a
better negotiator and learn the mistakes
you’re making the better of results
you’ll start getting when it comes down
to negotiating so today I’m going to
talk to you about the 14 common mistakes
people make when it comes down to
negotiate now there’s a lot more out
there I’m just giving you 14 of a number
one letting your emotions get in the way
when you’re negotiating let me explain
what I mean by this it doesn’t matter
what it is if a parent goes to school
and is talking to principal because
their kid did something wrong the parent
always thinks their kids are perfect and
they don’t make mistake because it’s
their product the same when you’re
selling a house to somebody else
you always think your house is worth
more than it really is because it’s your
house you’ve been living in it for eight
years nine years the market would
generally tell you what your play of
what your house is worth what your car
is worth whatever you’re selling so you
got to figure out a way to put yourself
out of the situation and kind of be a
consultant looking in instead of being
somebody that’s an involved involved
emotionally in it where you don’t
typically end up negotiating the proper
way so you can’t get let your emotions
get into especially if the other person
says I think this thing’s only worth
$4,000 you think it’s 10,000 you’re
absolutely furious you may lose a deal
there and you got to kind of figure out
away what it is number two
misinterpretation of position this is
very important because sometimes you’re
talking to somebody and they say
something and you get upset they didn’t
mean what you thought they meant so
instead of getting upset ask two or
three or four more question probing
questions to ask them what their what
they mean by this do you mean this do
you mean this not that’s not at all what
I’m saying I’m saying this because of
this oh I didn’t even think about that
okay no problem so a lot of times deals
don’t go through because there’s not
enough questions being asked because the
two parties negotiating misinterpreted
each other right so you got to make sure
you get a lot more questions there so
this doesn’t happen number three
research research research do as much
research as you can let me give you a
story here we had a case where somebody
contacted us they wanted me to
in this documentary and hold this
documentary is going to have a Buddha in
it and Tony Rob all this stuff and
sounded so fancy and we want you to be
an associate producer and we’re sitting
there saying why this is pretty exciting
so this is something well maybe we’ll
entertain want to be a part of until we
found out that the executive producer
that was a part of it had had a major
major scandal New York Times type of
scandal that he was dealing with from a
relationship with a younger girl all
this other stuff the moment we found
that out we back then we said we’re not
even doing any business with this we
almost did we almost did because we
didn’t do research so one of the things
I want to tell you is this video is
sponsored by fiber and one of the things
I love that fiber does fiber offers a
service where people will literally
research any topic you want for you
they’ll research any topic for you so if
you have a topic to say hey I’m
generated in negotiate with this company
what can you find out about this company
or what can you find out about the real
estate market today what can you find
out about Bitcoin today what can you
find out about such-and-such today
somebody will sit there and they’ll
research for you and typically you can
find out who does a better job I
normally recommend choosing three people
if you really want some solid research
I’d rather pay three different people
$50 a pop they use one person because I
can figure out which ones doing a better
research then I’ll go use that other
person so if you’ve never used fiber
before go try this service side you can
always go out and right now have a
relationship with them if you use the
coupon code Pat bet Pat bet you will get
a 20% discount so if it’s $150 20% $30
off so be sure to go use that service on
researching for yourself on any topic
you want to do number four go into the
source I like to go to the source I
remember a long time ago when I was
getting contracts with insurance
companies and I was currently talking to
all these VPS vice-presidents oh yeah
we’ll try to get a deal for you oh yeah
we’ll try to get a deal friend and all
of a sudden I said you know what I’m
going straight to the stores I found
that every insurance company CEOs I
found that all of these guys are human
beings like you and I they have a
LinkedIn they have a contact information
they know people that have information
that I know so I reached out to them
eventually I got a hold of these CEOs
direct phone I spoke to my tell us and
here’s Who I am here’s what I’m looking
for
I’m looking for contract I just started
a company I like your company when can
we get together and talk can you come
here tomorrow yes I flew to Chicago
struck up a deal with a CEO came back we
had an insurance company to work with
because I went directly to the source
many times you got to go straight to the
source number 5 leverage let me tell
what I mean by leverage leverage is no
one who has the leverage I think people
negotiate with people as if they have
the power and they don’t let me explain
so let’s just say me and a bank are
having a problem here together the bank
has given me 50 million dollars for my
business
ok the bank is absolutely upset with me
we won our 50 million we’ve given you 50
million dollars and this is our 50
million dollars if they push me to the
edge I can file bankruptcy they lose 50
million dollars so they need to
understand leverage there they need to
make sure I stay in business because if
I stay in business I can pay them back
that is a leverage right there so you
need to know your position of leverage
not just necessarily going in there
pounding your fist on the table and
saying this is what I demand from you if
you don’t have proper leverage it will
work against you number 6 not listening
it’s pretty simple sometimes the whole
thing about misinterpretation the more
you listen you’ll start seeing signs and
you’ll start seeing exactly what’s
important to them and you’ll start
seeing what they’re not willing to
negotiate with and that’ll help you get
to the final decision or a sooner number
7 no one went to walk away and when not
to walk away I will tell you from
personal mistakes I have sometimes
walked away way too early and it costs
me millions of dollars and app sometimes
walked away too late and it costs me a
lot of hours okay from experience you’ll
generally make this thing tighter where
you’ll be able to save more money make
more money and save more time and make
more time to do other things but there
are times where you’re into it and you
may not like somebody or you may not
like something that was said but that
doesn’t mean you’re not going to do
business with them unpeel it a little
bit more and all of a sudden some could
happen there sometimes patient is
important many times you can tell a deal
and say look we were just doing a deal
and I told the guys to listen I want to
do this deal but I’m not going to
based on these guidelines if you have
something better honestly go
I’m just here waiting if you want to do
something like this I’m open then we
came back two months later and we ended
up doing a deal because we were patient
about it so you need to know your
position where you are with that number
eight too extreme too soft too hard you
push too hard
you’re too soft if you’re too soft
you’re showing a weak position maybe
your products not as good if you’re too
hard maybe the other person says this
person is going to be difficult to do
business with you’ve got to kind of
figure out a way to be balanced with
them while you’re dealing with them
number nine understanding the
personality I was doing a negotiation
with this one gage $100,000,000 guy two
weeks ago and we’re on a call he
interrupts me three times on a call I
don’t mind it but he interrupts me three
times so when he interrupted me three
times I interrupted him and I said
listen I just hope you understand it I
have zero problem if you interrupt me
okay but I hope you also don’t have a
prime if I interrupt you he says I have
no problem with that our relationship
was so good because we both understood
what level were comfortable with and a
negotiation went well there are people
that will not even interrupt you till
you’re done with your sentence and then
you got to know they’re expecting the
same thing in return so sometimes you
got to read personalities when you’re
negotiating on where there are some
people are more sensitive than others
when you’re dealing with more sensitive
people if you still want the deal to get
done you’ve got to be able to read that
other human being better number ten
letting people know how you do business
I told this guy Mario told me reminded
me this yesterday two days ago he says
Pat you’ve probably said this line
hundreds of times in meetings I’ll sit
with somebody I’m doing business with
and I want a long-term relationship with
them I’ll tell them I said listen I’m
not looking for in one-night stand
I’m done with one-night stand I’m
looking for marriage if you want to
marry me why don’t we start dating and
then from there possibly we’ll put a
ring on each other and then one day
we’ll get married but I’m looking for a
marriage not a one-night stand what are
you looking for I also wanted mirrors
well why don’t we start solving around
this on how we can make this
relationship last a long time so you
make millions we make millions are you
okay with that yes so explain to people
how you do business with people number
11 caring too much this kind of goes a
little bit into the emotion set when
you’re caring too much about the deal
because you have it personal many times
the deal may not get done just because
you care way too much about the deal 12
focusing only on the money there are a
lot of negotiation negotiating books out
there that wants you to get all the
money and all this other stuff and
listen I play that card as well where
it’s all about how much of the money I’m
going to get myself but then what
happens in this case is that person
walks away I said this on a call the
other day I told this guy said listen if
we do business two months later I
realize you got the better end of the
deal you’re not going to get the better
version of me so what do you want to do
and he says yeah you’re right pad that
kind of does make sense well what can we
do for you not to feel that but said
this is my number and it says well
that’s kind of fair I said well I want
to be able to do this if you can you
give me this other part what about if I
want this I said that’s no problem to me
but I want you to make sure that here’s
what I’m looking for so negotiating just
for the money there are some freedoms
and some other things you can negotiate
that may be important or to them that’s
more important than money parts so don’t
always just leave it on the money side
number 13 trying to beat the other
person negotiation of transact I had
somebody that we had in our lives two
years ago okay every conversation with
her she had to win like literally it was
only about beating you in the
conversations I stopped talking so we’re
just sitting there said what I’m going
to talk to you about what what other
conversation do you want to win you want
to win another one keep winning there is
no point of negotiating with this person
or even trying to have a relationship
with this person because it was always
about beating the other person it was
always about winning the argument and
there’s not a lot that you can do with
that part so when negotiating with
people you got to know can’t just be
about beating the other person that’s
about I want to keep doing business and
this person is going to talk to five
other people I want them to come back
and want to do business with me number
fourteen not seeking other options
every time somebody at the Home Office
comes up to me with a deal Pat this is
going to cost us $100,000 it’s going to
cost us six hundred thousand dollars it
kind of cost us $50,000 no matter what
deal they ever come to me with I always
ask one question how many other options
do we have do we have three options if
it’s only one option no it’s not enough
I want
I always want three options on the house
I want to buy three options for vacation
home I’m looking at three options for
car I want to buy three options for
technology want to do three options for
person we want to hire three options for
somebody we’re bringing in as everything
is about three options when I have three
options I can say decipher through the
three and say this is the one I want to
go with not the other two so you want to
have options when you’re negotiating
gives you a leverage and last but not
least I had this on this side here
knowing your Batna which is best
alternative to negotiated agreement
here’s what that means it means here the
guy offers me $10,000 I know in the back
of my mind I got $11,000 somebody else I
wants to do it so my number is 11,000 he
has to do Bobby 11,000 for me to do
business with them in the back of my
mind my batman’s $11,100 let’s just say
I’m walking over because I got a $11,000
deal so I know my conversation with this
is not a it’s not a big challenge
because if it doesn’t happen I got 11 K
waiting for me in anything you’re doing
always know you’re back now and the more
bad night’s you more clear you are with
your Batna it gives you leverage when
you’re negotiating with whoever you are
negotiating with so having said that
having said that by the way there are a
lot of other things when it comes up to
negotiation with mistakes this is just a
simple short video for you to be
thinking about on some of the things you
may be doing they can adjust and
remember last but not least fiber path
bet 20% off on any of the services you
use with fiber if you got any questions
thoughts comments about this video
comment on the bottom and if you haven’t
subscribed to the channel yet click you
to subscribe and click the alert button
to be part of the notification squad
take everybody bye-bye [Music]
Please follow and like us: