1. THE FUNDAMENTALS OF PRICE NEGOTIATION Video 1: Introduction

2. “How to stop discounting, eliminate stress, and get better relationships with your clients.” Video 1: Introduction

3. Exercise Video 1: Introduction

4. You are talking to a new client, Tom. Bureaucratic delays, no signed contract. The project deadlines can’t be changed. You start your engagement without a contract. “About that contract… I was hoping you could give us a discount.” IMAGINE THE FOLLOWING SCENARIO Video 1: Introduction

5. Pause the video. Take a minute, and write down in front of you your response to that question. BEFORE MOVING FORWARD Video 1: Introduction

6. OUTLINE 1.DIAGNOSIS 2.DETACHMENT 3.CURIOSITY 4.ABUNDANCE 5.HOW TO SAY NO Video 1: Introduction

7. Why is dealing with a request for a discount hard? Because we are doing it all wrong. DIAGNOSIS – CENTRAL QUESTION Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

8. THE MISTAKE WE MAKE Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO PUSHBACK Say no. Justify. Make excuses. GIVE IN Say yes. Say no, but give in on something else. Say yes under certain conditions.

9. CATCH - 22 Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO PUSHBACKGIVE IN

10. Need FAULTY ASSUMPTIONS Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO Need Discount Budget, look good, savings, cash flow, unfair price, etc.

11. There are many reasons why people ask for a discount… Deferring payment. Looking for creative financing options. Do things that might make them look good. Educating them on what is or isn’t fair. Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

12. Negotiating price is actually really simple. Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

13. They ask for a discount for different reasons, we can address those reasons without pushing back or giving in. Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

14. Emotional response Forces us to either pushback or give in. It’s the modern day equivalent of a fight or flight response.

15. We generally know what we should be doing. We just don’t do it when negotiating price. CENTRAL CHALLENGE / BAD NEWS Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

16. Attachment Certainty Scarcity 3 MINDSETS Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

17. When we put an offer on the table we become overly emotionally attached to it. Problem solving doesn’t happen. ATTACHMENT Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

18. We become emotionally certain that we know why they are asking for a discount. Problem solving generally doesn’t happen. CERTAINTY Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

19. We see the situation as win-lose. If we assume someone will lose, pushing back or giving in makes total intuitive sense. SCARCITY Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

20. As long as you are thinking in terms of certainty, attachment, and scarcity, negotiating price is ALWAYS going to be hard. CENTRAL CHALLENGE / BAD NEWS Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

21. Attachment THE WAY OUT Certaint y Scarcity Detachment Curiosit y Abundance

22. Being able to attain distance from your price, emotional distance, so that you can talk about it in a more relaxed way. DETACHMENT Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

23. We have to assume that we don’t know why they are asking for a discount. Our gut reaction is always going to be a question. Problem solving becomes possible. CURIOSITY Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

24. There are an abundant number of options that you could agree to, not just one of two prices. ABUNDANCE Diagnosis - DETACHMENT - CURIOSITY - ABUNDANCE - HOW TO SAY NO

25. Next video: Two essential concepts that you need to be aware of if you want to remain emotionally detached and in control. Video # 2: detachment