Discover more from The Weekly Walkaway
🎶 We're all going on a Summer Holiday! 🏝️
Remember you're the Haggler when you're negotiating at the local market place
The Weekly Walkaway highlights negotiation in its ‘good’, ‘bad’ and sometimes ‘downright ugly’ forms. Newsletter Issue No. 43 (4th August 2023)
What to expect?
Thought of the Week - Remember you're The Haggler when you're negotiating at the local marketplace!
This week’s Quotes of the Week
“Bargaining has neither friends nor relations.”
“Necessity never made a good bargain.”
Remember: You are a negotiator!
You are always managing some form of conflict, a difference of opinion or interest.
Thanks for reading The Weekly Walkaway! Subscribe for free to receive new posts and support our work.
Click ❤️ please help to share the community. Thank you. Go on, smash that ❤️
THOUGHT OF THE WEEK
🎶 We’re all going on a summer holiday! 🏝️
As we all head off on our summer holidays (I’m sure some of you are already there!) It’s a timely reminder that when we find ourselves down at the local marketplace, buying those memorable trinkets, we will inevitably meet and negotiate with the most quintessential of negotiators, ‘The Haggler’.
As an effective haggler, you must learn how to manage those haggling with you.
You can not hide from The Haggler.
You must acknowledge The Haggler and face them, or else be exploited!
These are the most uncomfortable of negotiations and can create the most conflict and competitive behaviours in us, but they are also the baseline, negotiation 101, the foundation blocks, for all negotiations.
Preparing to get the best deal with a Haggler
Remember, this is a one-off deal. You don’t need them, and they don’t need you. Act appropriately. Price is king. Neither you nor the market owner is looking to make this deal any more complex. You don't trust them, and they don't trust you.
In fact, there is no need for any trust.
Regardless of how many cups of sweet tea they give you…
What is your B.A.T.N.A? (Best Alternative to a Negotiated Agreement)
Remember, you may like the product, but you don't need this one. The market stall owner would like you to buy, but they don't need you to buy.
Do your research, walk the market length to length, and get a feel for prices from a number of the stalls.
It is a delicate balance between desire and necessity. Don’t be a prisoner to your desires.
The solution lies in your alternatives, your B.A.T.N.A's.
Remember, you are much more equal than you think.
There are plenty of tourists, and there are also plenty of other market stalls selling the same products.
So you must increase the perception of ‘power’ with the haggler. Here are a few of our favourites:
Knowledge is Power
Know the value of what you are buying, do your research, and look at the prices on the other stalls.
Power from Anchoring
The price is on display. They know the value of their product, and they are in charge and in control of you. They have anchored you to their number and changed the perception of value in your mind!
Unless you 'Anchor' first. Get your proposal out on the table first and keep repeating it.
Power from Silence
The three things an effective Haggler can do are
Make proposals and;
then be silent!
Power from Behaviour
There is appropriate and inappropriate behaviour depending on your situation. You must consider this very carefully.
Remember - Behaviour breeds behaviour...
So be aware, and be in control of them and yourself!
If you behave 'Parentally'; cold, hard and dismissive towards someone, even arrogantly, you may be able to control them for a while but go on too long, and you risk turning them off.
If you behave 'Childishly', submissive, emotional, illogical or even overly excitable towards someone, you may be able to manipulate them as a short-term tactic may be to defuse or calm the other person’s parental behaviour, but you can also be dismissed easily.
We would always recommend behaving as an 'Adult'; calm, confident, logical, rational and ready to deal with truth, facts and figures. The most powerful behaviour, but do not discount the others. They all have their place in negotiation.
So how do you plan for the Haggle?
Oh, the sweet game of negotiation!
Z.O.P.A. stands for Zone Of Potential Agreement, and it's within the Z.O.P.A that you and your negotiation counterpart will find a deal. The rules of the game are simple, achieve the most of the Z.O.P.A to maximise any negotiation.
Once you know ‘your’ walkaway and have guessed at ‘theirs’, you have the ‘zone of potential agreement.
You must always…
Know the ‘value’ of what you are buying.
Ensure you have your B.A.T.N.A.
Know your walkaway. (the most you are willing to spend)
Make your best guess at their walkaway. (the most you think they will sell for)
Open Extreme, so you have room to move and give them satisfaction
Flinch at every proposal they make until you agree on the final number.
Open Extreme and move to give them satisfaction. Employ the law of reciprocity as you move towards where you have assumed their walkway is.
Then plan to move in ever-decreasing sizes towards where you think their Walkaway is. Do not think about your own walkaway, or you will end up there...!
Then…Observe and Deduce Sherlock!
Good hunting, fellow Negotiators!
Remember : You have the right to negotiate!
Meanwhile, Kahvay is taking some time off for a hard-earned summer break. Normal service will resume in a few weeks!
In the meantime, enjoy watching one of our favourite clips from the classic Monty Python from the BBC, showing you how The Haggler is done for real…
We’d love to read your comments or thoughts.
Discuss or request more about this or other topics that interest you. (email@example.com)
Thanks for reading The Weekly Walkaway! Help Us Grow. Subscribe for free to receive new posts and support our work.