Ever hear that expression before? There could be nothing more true in both your professional and personal life.
Today I am dealing with our personal / consumer life but know that you must take the same approach in your professional career!
So what do I mean by this statement? In too many instances we as consumers accept whatever we are told the price is. Never once do we think to negotiate the printed price or ask for more.
This is costing you thousands and even tens of thousands of dollars in your lifetime in both initial cost and interest paid!
ANYTHING FOR SALE IS NEGOTIABLE in some form!
Nine times out of ten ANYTHING you plan to purchase can be negotiated regarding price or added extras. The key to success is Simple…ask the question!
Here is a quick example that I experienced just last week…
I found myself in their store having my phone serviced. When talking to the representative and complaining about how high my bill was I asked if there was any way she could reduce it. After several minutes of going over EVERY plan they offered the representative finally told me that I had the best plan by far. My reply, “I see advertising specials and other offers from your competitors so I will go see what they can do for me”. The agent assured me that I had one of the most competitive rates out there! I again said “OK, well I owe it to myself to verify this”. That simple statement (and the other 25 minutes I spent discussing my plan with this representative) convinced this person that I was willing to look at the competition and take my business elsewhere!
The representative did not want to lose my business and realized that she needed to offer more!
She could not just reduce my bill BUT, she could give me a price reduction if mine or my wife’s employer had a plan with Sprint. In this case I received an 18% discount on my entire bill equaling $432 per year…serious money savings that can be applied to anyone’s debt.
Here is a rarely used secret! Many retail establishments offer discounts to consumers if the company the consumer works for has an arrangement with that particular retail company. The key again…ask the question!
So what is the lesson?
ALWAYS negotiate anything you plan to purchase provided the amount is high enough to have an impact. Trying to negotiate a pack of gum would not be worth it!
NEVER accept the price listed without discussing the price with a decision-maker first. I am referring to the manager or owner…someone who has the power to reduce the price.
THINK of your options and exercise them.
1) Reduction in price…You should negotiate this first.
2) Reduced interest rate if financing after you have locked in the final price.
3) Company, club or employee discount again only after negotiating the best price.
4) Offer your own terms including but not limited to paying with cash.
5) Be all business and leave your emotions at home. Too many times we allow our emotions to drive our decisions. As I discuss in my book, leave yourself a cooling down period BEFORE purchasing. In many instances once you get past the emotions you will realize that you can live without the item or at least wait until the price goes down. (Look at the iPhone 3G – half the price it was when it first hit the market!)
6) Be creative and come up with your own ideas. The economy is tough, leaving more and more retailers willing to cut deals never seen before.
Remember…You don’t get what you deserve…you get what you Negotiate!
