Barry Nalebuff

Absolutely. So I'm not saying you start off with $1,000, but I also don't want you to start off with $200. I want you to start off with a number that you can justify. If they ask you how you came up with that number, a good answer isn't, yeah, I tried to pick this low number because I read in a book somewhere that's a good way of softening you up and that I can anchor you with that number.

Instead, it's, look, when I see prices on eBay for this, the price is $847. And I know that you might be able to find somebody who will perhaps overpay. They're really desperate for it. But I'm prepared to give you the same price as I could find it on eBay. would be one way of doing it.

Instead, it's, look, when I see prices on eBay for this, the price is $847. And I know that you might be able to find somebody who will perhaps overpay. They're really desperate for it. But I'm prepared to give you the same price as I could find it on eBay. would be one way of doing it.

Instead, it's, look, when I see prices on eBay for this, the price is $847. And I know that you might be able to find somebody who will perhaps overpay. They're really desperate for it. But I'm prepared to give you the same price as I could find it on eBay. would be one way of doing it.

So providing some other possibility, giving them a reference, giving them an argument and a reason for why you're making the number you're making. What else do people do wrong? One thing people tend to do is fight fire with fire. But as Smokey the Bear will tell you, you want to fight fire with water so that when somebody does something that's escalating, that is inappropriate,

So providing some other possibility, giving them a reference, giving them an argument and a reason for why you're making the number you're making. What else do people do wrong? One thing people tend to do is fight fire with fire. But as Smokey the Bear will tell you, you want to fight fire with water so that when somebody does something that's escalating, that is inappropriate,

So providing some other possibility, giving them a reference, giving them an argument and a reason for why you're making the number you're making. What else do people do wrong? One thing people tend to do is fight fire with fire. But as Smokey the Bear will tell you, you want to fight fire with water so that when somebody does something that's escalating, that is inappropriate,

Don't respond the same way. Find a way to put out the fire. In one of my negotiations, I once asked for a price that was way too high. And the person on the other side, the buyer, looks at me, says, great, where do I sign? And then watching my smile grow on my face says, just kidding. If you really think that's what is needed, I'm afraid we don't actually, it's not going to work out.

Don't respond the same way. Find a way to put out the fire. In one of my negotiations, I once asked for a price that was way too high. And the person on the other side, the buyer, looks at me, says, great, where do I sign? And then watching my smile grow on my face says, just kidding. If you really think that's what is needed, I'm afraid we don't actually, it's not going to work out.

Don't respond the same way. Find a way to put out the fire. In one of my negotiations, I once asked for a price that was way too high. And the person on the other side, the buyer, looks at me, says, great, where do I sign? And then watching my smile grow on my face says, just kidding. If you really think that's what is needed, I'm afraid we don't actually, it's not going to work out.

And it was the nicest possible way of letting me know that what I had done was just not really appropriate. As opposed to coming back and making a lowball offer in response. So that's one example of how not to respond in kind. When somebody makes an ultimatum, don't make an ultimatum in response. Figure out how to walk them off the ledge. When somebody acts like a jerk,

And it was the nicest possible way of letting me know that what I had done was just not really appropriate. As opposed to coming back and making a lowball offer in response. So that's one example of how not to respond in kind. When somebody makes an ultimatum, don't make an ultimatum in response. Figure out how to walk them off the ledge. When somebody acts like a jerk,

And it was the nicest possible way of letting me know that what I had done was just not really appropriate. As opposed to coming back and making a lowball offer in response. So that's one example of how not to respond in kind. When somebody makes an ultimatum, don't make an ultimatum in response. Figure out how to walk them off the ledge. When somebody acts like a jerk,

say, look, here are my principles. I'm prepared to split the pie with you. I'm not prepared to do a deal that's unfavorable, that's unfair to me. So if you can give me a principle in response to show me why my argument's wrong, I'm flexible on that account. Or,

say, look, here are my principles. I'm prepared to split the pie with you. I'm not prepared to do a deal that's unfavorable, that's unfair to me. So if you can give me a principle in response to show me why my argument's wrong, I'm flexible on that account. Or,

say, look, here are my principles. I'm prepared to split the pie with you. I'm not prepared to do a deal that's unfavorable, that's unfair to me. So if you can give me a principle in response to show me why my argument's wrong, I'm flexible on that account. Or,

somebody will lie to you uh and that doesn't mean that you should be lying in response so there's a lot of fight fire with fire as opposed to figure out ways to put out the fire do you think it's a good idea when you're negotiating something with someone else

somebody will lie to you uh and that doesn't mean that you should be lying in response so there's a lot of fight fire with fire as opposed to figure out ways to put out the fire do you think it's a good idea when you're negotiating something with someone else

somebody will lie to you uh and that doesn't mean that you should be lying in response so there's a lot of fight fire with fire as opposed to figure out ways to put out the fire do you think it's a good idea when you're negotiating something with someone else

So imagine a person is selling their family business and it's a gas station. And the reason they're selling it is because they want to go on a sailing trip around the world. Should they reveal that or not? Well, you could say it's a frivolous reason. And so let's keep it hidden. Let's just say I'm planning to retire and spend more time with my grandkids.