How to Negotiate a Lowball Offer

What is price anchoring? Between you and your client, who should say the price first? How do you know if your prospects can afford you? What do you do when a client lowballs you?
Learn more about our Business Bootcamp, designed to help you attract the right clients and grow your business: ftris.me/ZPEFUtJ
#PriceAnchoring #cheapclients #pricingcreativity #graphicdesign #thefutur #anchoringbias
00:22 - Do you put a number down first?
01:02 - Anchoring Scenario
01:57 - What is anchoring?
02:03 - Another anchoring scenario
02:38 - Ignore the Anchor
03:35 - Heuristics
Pricing Creativity by Blair Enns
www.winwithoutpitching.com/pr...
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*By making a purchase through any of our affiliate links, we receive a very small commission at no extra cost to you. This helps us on our mission to provide quality education to you. Thank you.

[@thefutur]

Learn more about our Business Bootcamp, designed to help you attract the right clients and grow your business: ftris.me/ZPEFUtJ

[@shairozkhan8560]

That’s a great video if you are offering your services and people know you. Because they recognize you and the services you offer, so in short they are kind of ready to be chopped off a bit more. Now, lets say i am buying a used car and want to get it at a price i want. The moment i low ball that person, the car gets taken by someone else. What would you do in this case? Because the market was open to the car seller. In your case the guy (as usually the case with most companies is, are not ready to do that research and don’t negotiate that much). What tips would you give in such a situation?

[@absoluteloyalty9033]

@@shairozkhan8560 This guy is giving advice that you can get literally get from a $5 book on negotiation. I really hate these self-help guys. It's so sleazy. To answer your specific question re to a used price, you shouldn't just make an excessive lowball because it will annoy the other person. And, you're wrong about the car being taken by someone else if you lowball. If the seller rejects your offer because there is a higher offer, you can just raise your offer. The seller will always want the higher price. In your particular case, you'll need to figure out what the other buyer's real bid is. The seller might be lying (and most likely will). I can't tell you exactly what I would do because it would be giving away my trade secrets but I can tell you that being persistent while being nice is key. Also, assume that everyone is lying because the guy who lies best wins a lot. Similarly to how the guy in this video convinced you.

[@ForeverFootball3]

"That's not gonna work , can you come up with a better number?" That's so good man !

[@Imchillingidk]

And what if they say no

[@ivanbolanos1536]

@@Imchillingidk then ✌

[@Barrrt]

I don't see this working - my clients would ask me "well how much would you have in mind then"

[@logan2113]

then you tell them, and make it high if you’re going to negotiate something lower with them. be in control of the situation ✌️

[@Barrrt]

@@logan2113 thanks Logan, good idea

[@chungdasian69]

This idea is also in the book called "Never Split the Difference". It's a negotiation book that's written by a hostage negotiator.

[@thefutur]

Yes. chris Voss.

[@marcgosselin945]

im going to read that book

[@tannerjohnson5368]

An ad came up for the masterclass when I opened this video.

[@cmimages3541]

@@g3osom1 I watched the masterclass. It was pretty good.

[@OnlineEntrepreneurHQ]

whats the name of the author

[@Diandrakim]

I literally just did this last week after watching one of these videos to mentally prepare my mind. A client was referred to me and called me up. After I got a general scope of the project I dropped my price first and I dropped it high. He was shocked and didn't think it would be THAT high. I refused to budge and said if this price does not work for him I will happily find him someone that can do the work within his budget. Long story short, he came back to me and said: "I crunched some numbers and I can make this work. Let's work together."

[@thefutur]

Awesome!!

[@mohd_allearz8403]

What if he said sure find him someone that can work within his budget 🤔

[@64z]

I think this is great as long as we are providing value equal or greater to what they are paying. Just because you can get away charging someone more doesn’t always means it’s the correct thing to do if you’re trying to build a long term relationship.

[@magicmulder]

My CEO does this. When we plan to buy a software license we know usually costs 10,000, he enters the negotiations with “our budget is 5,000”. When he sends me to negotiate, he says the budget is 5,000 and I should say it’s 4,000. This is an additional benefit if you’re the client - usually you can’t just go over budget without significant delays, and involving more people in the decision process - which is bad for the seller since he needs to make a sale and he knows more people involved means more chances for the deal to fail.

[@LItalianoTheItalian]

Cool!

[@paulinetayag9758]

"Say your number first and say it high" Powerful ending to the video!

[@blessing99999]

And i lost all my clients

[@MichaeldeGans]

I was watching this without sound and reading the generated subtitle and it said ‘..say your number first and say hi!’ I was a bit confused so I’m glad I scrolled through the comments and found yours.

[@bewdeyeswhitedragon]

@@blessing99999 better to loss lowball clients

[@zachdaulton]

I can't believe the solution to one of my biggest pain points was answered here. I feel like I need to pay you now.

[@thefutur]

Please do. Become a sustaining member.

[@davidiezzi4150]

Best I can do is $1000.

[@dayam4190]

reciprocity, one hell of a principle

[@JacquiMwangi]

Dan Ariely and Daniel Kahneman have done some amazing work on the psychology of anchoring. Many companies use it when they create a really expensive (and often not worth it) offer so they can position other offers around this one and make the others look affordable in comparison. Thanks Chris for sharing this and especially with a practical scenario

[@ostentatiousostrich]

This is one of the best videos I've ever watched on your channel. Clear, concise, insightful. Learned so much in so little time. Thanks so much.

[@LeoPlaw]

Gold! No long winded explanations, just straight to the point. Thank you!

[@diegobernal2168]

Thank you Chris Do and to your team! All your videos and your content out there made me realize many things that I want for my future career and also to make the necessary adjustments to get there! Many Schools and employers would like you to develop a "T" model (specialize in only one thing) but since I discover your channel and a book called "Design Currency" I'm more convinced the model that designers and creative people should develop is an "X", hard and soft skills that crossover to offer value and solve real problems...Thanks for being a mentor for a worldwide community

[@DuraanAli]

This is the best I have watched in your channel, you know what you talking about and I have seen everything you say in my dealings with clients. I just drop a number (always high), and I let them deal with it.

[@joelwatson4669]

Hey Chris. First things first. I love the new bite sized style content! It's amazing! What I've gathered about anchoring from this video is you need confidence. Don't feel guilty when they say they can't afford you because it ends up in a downwards spiral. I don't even do graphic design but it's applicable in marketing and Law. Cheers and thanks for the value

[@DonZeedle]

The jewels of insight into the design of business are invaluable. Thanks Chris.

[@destroyidiots7191]

Sadly this is actually applicable with job searching also. I was asked by a corporate recruiter what is my start point for salary, I told her six figures even though my then current job was half that. She said and I quote... " Oh we don't think we can do that. " I politely said thank you for your time, and ended the conversation. A month later they called me, and said we really worked the budget and want you to come to work for us. They sent me an offer of what I wanted that day. I now have been working there for a year and it's amazing. So this is the take away, you tell them what you are worth and stand by it, they don't know how much you are worth, you know how much. Just saying...

[@jjw3046]

That only works if you have the luxury of having options. Otherwise the employer has all the power in that negotiation to simply withdraw your offer if they're turned off by a number you've volunteered that's too high.

[@DerekElliott]

Chris playing on statues has become a B-roll staple. Great vid!

[@HERMITES]

Haven’t even finished watching and I’m in love already this is seriously the best channel on this whole planet I love you guys thank you so much (p.s. biggest Chris fan ever)

[@JBPianoCreations]

Dear God, why haven't I discovered your channel until now 😭 I've decided to binge your videos rather than Netflix. 😊😊 Love you guys!

[@jasonhounsell3297]

I did sales in my 20’s for a few places including car sales. This was intuitive as soon as you see how stubborn people are and feel like they are being exploited after saying a number and then deviating from it. Part of the process I used was to avoid them ever making any decisions on numbers because they would mess it up and then maybe be stubborn and we all lose.

[@JahmarleyGrant]

How are you blowing my mind right now..... i wasn't ready!!!! master sensei please continue

[@jeremiahcastro9700]

You know I wanted to say thank you Chris as your videos have been gold! I was inspired so much after first coming across you that I finally launched my creative consulting business! This video also helped me decide whether or not I should list my price on my site and after some meditation: I decided that it is best to show my prices. And my reasoning for this is looking at metals. Everyone understands that gold is the most valuable and precious metal and will buy it no matter the price because it is already known and perceived to be rare and valuable; silver is second; brass/bronze is third; and iron is last. I believe that Life has guided and drawn me to you because you are as valuable as gold in what you offer. Thank you again Chris!

[@thefutur]

Thanks Jeremy. And congrats.

[@poet_stowage4574]

“I can’t afford it, “monetarily “ lol

[@Nocholas]

Yeeaaa, sometimes sales guys will go on some tangent with mental gymnastics before bringing it back. If you don't take some control.

[@chabrow5459]

So she can afford it by other personal services eyy 😉

[@omarkharnivall2439]

@@chabrow5459 she worths 300usd depending on skill and passion

[@FreddyGMedia]

Was making sure I wasn't the only one who caught that🤣🤣

[@TheCrazyBarn]

Lol...there are plenty of professionals he could hire for less than 1k that will deliver well.

[@fahadfarooq54]

This new anchor trick, it actually have worked for me in past

[@dcon9708]

Wow, 4 minutes of this video showed me something I haven’t learned in 20 years of business. What an interesting way to look at negotiating, thank you for sharing!

[@thefutur]

You’re very welcome

[@maksxperia02]

I’m so glad this doesn’t have more views, keeping it at the sweet spot.

[@Numonique]

Dammit. If I saw this like... a hour earlier. I just literally lost a chance and asked first. Got a small job. Nothing big, the client needed a quick guidance for an add in a magazine to make sure the quality was the best. And I asked the client first. Didn't get an answer yet but it hurts. Thanks for the advise!

[@jbhermida2831]

New Skill Unlocked! Thanks Chris!

[@cisium1184]

I usually prefer to hear the other guy's number before I say mine. In my experience, whatever people say their price is, you can either multiply or divide that by 2 and that price will still be acceptable to them. Meaning, whatever a prospective buyer says he wants to pay, he's actually willing to pay twice that; and whatever a prospective seller says he'll sell for, he'll actually sell for half that. It doesn't always work but I am shocked at how often it does. The caveats are 1) I do that analysis with myself before meeting the prospective client, and 2) I periodically evaluate my fees to make sure I am not underselling myself. And 3) if in the negotiation I see no overlap between my price and the other client's price, I just say their price isn't going to work, thank them for their time, and move onto the next opportunity.

[@Blemiz]

I had a client on the hook who just would not close after nearly closing instantly in our first encounter. I knew he was debating whether someone could do it for less but not saying it. If I had offered to fond someone in my network who could do it for less I think it would have closed the deal or at least opened the line of communication to identify the reservation. That line is gold and I will definitely use it in the future.

[@MarkSavant]

Love this concept. As the negotiator we need to set the anchor. Great clip Chris.

[@FermionBecProductions]

This really did work for me. I used to be in sales, so I had a few habits that stuck with me over the years. I just got into business in my industry and had a sit down with my first recurring client. This video popped up in my head when there were some objections that seemed to be cornering me towards the standards of their previous contractor who couldn't deliver. After a bit of hardball.. we've signed the contract under my conditions.

[@QuietDouge]

You guys always come at the right time. Keep up the awesome work!

[@thefutur]

Thank you.

[@brauliogarcia1836]

is always a delight to hear Chris talking, you learn so much.

[@thefutur]

Appreciate it

[@simba-rashe2930]

Danm that was a proper 👌🏿 opening !

[@OPMDudong]

Content is gold. I'm glad I found this channel :D

[@bonzai0331]

Awesome advice. It works in sales too. Thank you.

[@kmgfabio]

THIS IS SALES!

[@zacharylai]

This is so true. Most negotiation book advice you to let your client offer first. Only something later in my career I realise the idea of anchoring and how it affect your negotiation. But then later again I realise that there is still an advantage to have them offer first. That when you are confident of your value and worth and is not easily sway by this anchoring tactic. Sometimes you will be surprise that the client may suggest a price way above your own perceived value.

[@avimehenwal]

Super crisp ... I would agree with the beautyful lady's answer ... I can't afford you Chris! The VALUE you bring to the table is priceless. Can't put a money tag to it. #Anchor is by default at high

[@BoldCold]

Excellent video amen. Short, sweet and very clear! Thanks for sharing, James

[@valcron-1000]

Now this is a valuable negotiation lesson. Thank you for putting out such great content.

[@bldrnnerln3894]

The first one is just wrong and the second one is super common conventional wisdom. Anchoring is basic NLP bull that "gurus" like Tony Robbins have been preaching since they started. Nothing new or special. He omitted that the naming your price first, generally, doesn't put you at any advantage. It does two things, it gives the other person a better sense or a real sense, of what you can as opposed to willing, to give, and it, depending on your timing and delivery of that price, can expose things you don't want exposed, like fear or lack of confidence. Negotiating is a little like playing poker. You're not playing against the other player's hand (literally speaking you shouldn't be trying to guess or assume what the other person's budget is beyond what's reasonable) which is the opposite of what he's teaching actually but may not have realize it, what you should be doing is playing against the other person's performance, reading their body language for example. You need to get a read on where this person might be coming from. Another big reason why you don't want to be first is that you can learn a whole lot from just observing what the person will do and if the person is experienced and smart, the other person will be doing the same. You can get a lot of information from holding fast. If you go first, then you can't see if the person is anxious or being challenged at all. That alone can put you in a power position to raise your price or lower the other person's. If the other person goes second, then the other person is likely to easily to take a cue from you. Oh, you charge THIS much? I don't need to bother in this crowded field, or this might not be worth it. Those are just a couple examples. He was leading people astray there.

[@probrickgamer]

@@bldrnnerln3894 LOL, anchoring in NLP, isn't unrelated concept. Same name, but different comcept

[@garyjoqs4480]

Man this vid is so gooooood! Thanks for this small bits of knowledge you guys share with us 💯

[@MelissaClaasen]

Loved the use of footage - that would have ended on the cutting room floor - to end the vid. The anchor high is what I've incorporated into my numbers discussion. Whatever i think they'll pay, i add a few hundred dollars on top. I'm working my way to adding a few thousand dollars on top.

[@tawandandlovu2505]

Found it ! And then some. Thank you Mr. Do .

[@AndyCarolan]

Incredible advice... why haven't I realised this before. It's such a simple concept and makes total sense. Thank you for your insight Chris!

[@thefutur]

You’re very welcome.

[@shawnsmith1865]

a 4-minute Master Class. 🔥 Fire 🔥

[@hctan9925]

I love short content like this from your channel

[@jamesbennett6443]

Thanks Chris Do for your amazing content. By far the best, most helpful channel on KZbin. You have a lot of great content both on design but life in general. This channel is a real motivator for me and my career and has genuinely been a huge inspiration to me. I would love a t shirt which has simply has 'thefutur' on it to rep you guys! You need to come to the UK, I would love to see you live. Great stuff

[@thefutur]

Thank you.

[@nicfindlay]

Very valuable! I figured this out a few weeks ago and things have been much better. I always lowball :/

[@ogbokawalter6362]

I love this. Always dropping gems. Thank you.

[@thefutur]

Glad you enjoy it!

[@micky6045]

Priceless advice all the time.. Thanks Chris

[@TheMattLeighton]

Great video! Love the negotiation tips!

[@marvelous1358]

As someone who's a terrible negotiator, this was very helpful. Thank you.

[@thefutur]

Glad it was helpful!

[@johnkaimins9998]

Fabulous advice ~ thank you for sharing.

[@CelineAdobea]

I was just thinking about you and this channel some days ago and suddenly you popped back in my notifications! Peerfect timing to ✨🦋✨

[@thefutur]

yay

[@abefroman81]

I'm not even in business but this stuff is fascinating

[@joelstatosky1817]

I was looking for a way to lowball someone on fb marketplace. Now I left with valuable lessons that will help me in my carrer of investment banking.

[@tlhogid663]

So glad I found this video👌🏾

[@ChrisEllinas]

Amazing way of thinking! nice one Chris 🙂

[@MarkAnthonyPadal]

I love this one!

[@Ajones985]

This is the best advice ever. Not sure id bother with the bootcamp after youve given all your secrets away? Go Lower!

[@mistermyself1128]

Have a lot of leverage or the perception of it. Works every time.

[@von_freiesleben64]

best advice i ever got.

[@xlnt3d01]

Great stuff. I'm using it!

[@StanleyParrishJr]

Chris is a freaking BEAST

[@thefutur]

#asianBeast

[@brycenew]

Thank you CD & TF !!!

[@arealperson]

How did he recreate the inbox sound so perfectly at 3:25

[@rahulranjit3858]

THIS BLEW MY MIND!!!! CHRIS, U ROBOT!!! xD

[@KyleAlexanderkneeGrowPlz]

Lol ikr! Had to rewind the video to make sure it wasn't artificial.

[@muhammadzazulirizki1000]

I bet he's good at beat boxing too.

[@ZaidanMhmood]

That’s part of the 1000$/hr value

[@scottmadramenxu]

Practice makes perfect

[@OtherworldlyCitizen]

Took your advice Chris and it worked! Big thanks to you for teaching me this!

[@thefutur]

Good job.

[@exceedsales]

This is brilliant and so well explained. Thank you!

[@thefutur]

Glad you enjoyed it!

[@kaicheng2228]

Pure gold

[@AriVovp]

When you can only afford a Civic and wanting a 320i, just craved for the sale man's pitch

[@hernesc]

He: "How much can you afford"? She: "Zero dollars". He: "Really"??? That lady totaly destroyed him.

[@phenommarketing8844]

hernesc watch it closely, he’s showing you how to deal with a broke customer.

[@JafRich]

Not really. If someone offered him zero dollars he just wouldn’t take the job. He’s not destroyed.

[@issasecretbuddy]

and yet he planted it in her head that he’s worth $1k / hr, so who really won?

[@SkStNk]

@@issasecretbuddy She won. Cus he doesnt cost that much FOR HER at that moment

[@kaganplant3732]

@@SkStNk Did you stop the video after she said “zero dollars”? Because in the next ten seconds she literally says he is worth $1000.

[@soumikroy6683]

Ok..1 sec R we really going to ignore the fact that he did that email notification sound sooooooo perfectly.?

[@transf1x]

That’s it!! I replayed it to make sure it was him haha

[@MANJAKOLI1]

This guy is great.

[@blacksableza]

LOVE THIS CHANNEL!!

[@gabrieldemetz622]

This is good ! Sooo good ! Thank you

[@thefutur]

You’re very welcome

[@LightSmit]

This is my kind of energy related businessman

[@kikidesign]

Can’t wait for the day I officially sign up at THE FUTUR and become a part of the pro group

[@thefutur]

hope to see you on the inside. we are now over 500 people!

[@augustfaisst1855]

Great video!

[@Kenyatta.M]

Timely advice. Thank you!

[@SomeshMathur92]

He just read 'Thinking fast and slow' by Daniel Kahneman, in case some of you were wondering.

[@BellaBeastTv]

was searching here for the book he was referencing to

[@LItalianoTheItalian]

New thing learned, thanks for sharing :)

[@hubb1115]

Love this

[@Artwareh]

❤️ Nice one

[@opeyemitemidayo5021]

Thank you for this

[@jy8659]

Exactly what I did when asked expected salary range.

[@matthewdeoliveira2073]

She just tried to pay with something else. "Monetarily, no..."

[@TheDesvendador]

wonder if he caught that lol

[@cisium1184]

@@TheDesvendador I know I caught it.

[@wingsofrichard1393]

He knows the money will go a longer way than a one night stand

[@Student4Life1975]

Can’t afford to pay anything, yet I’d bet good money she hits Starbucks 4 days a week.

[@wingsofrichard1393]

@@Student4Life1975 and is subscribed to 3 different streaming services

[@SuperDvco]

This guy has way too few views for the pieces of advice given on his videos. Deserve way more views. And I'm sure that eventually his channel will explode. Its good and high quality advices. Straight to the point

[@gustavosaliola]

"Say your number first and say it high" Black T-Shirt > Helvetica Neue Semibold in white for "Say your number first" Helvetica Neue Black in white for "and say it high" (All right justified, with "the futur" blue logo small, in the shirt down right corner). As a Designer, it's the least i can do to thank this highly valuable knowledge.

[@TomSimak]

Damn that’s some good advice!

[@firstlast_x]

I use this in sales so often lmao very easy to use

[@thefutur]

Sales pros knows.

[@erwickdsouza]

That was amazing, I learnt a lot! But what really got me was the iMessage sound you did at 3:24.

[@joanieseepersad7507]

Great information

[@VonteVision]

Just turned down a gig after walking this video. I’ll come back and leave a update if this worked for me. 🙏🏽

[@mysteria5804]

Hello, update? I'm facing the same challenge atm

[@orangecountywebsites]

Buy the negotiating course it’s so good!!

[@thefutur]

Thank you Mike.

[@Dannyk3979]

That’s a good tip Chris! I have a follow up question: how do we know that he’s able to afford 30 or even 10 in the first place? We could have started by throwing a number like 8k and it would have ended there or most probably even got lowered.

[@Archreux-Leudegrad]

I wonder this a lot of the time as well when talking with clients. Research/Experience maybe? Sometimes information is embedded in the details of the conversation, and you can glean some insight as to what their budget might be. Other time's it's completely indiscernible as to whether or not they have $100 or $10,000. I feel like it's one of those things where with enough practice you can go "Oh yeah. This is a big company, and they have TONS of money and X budget for most projects like this." or "I've worked with clients like this before, and for this type of project they have X budget.". Independent clients and VERY small businesses are much harder to gauge since there's almost no information regarding financial status usually.

[@Scottross93]

You base it off YOUR cost. What have you made for this type of work before? What do others in a similar industry charge? You don't want to be the guy who undercuts everyone else, and you don't generally want to be the most expensive at what you do, unless you have the quality to back it up. A good guideline is to sit down and honestly come up with your costs per hour/job/day/week etc. Then figure out if you have material cost on top of time, and go from there.

[@livumagoqwana]

Super helpful 🤘🤘🤘🤘🌟🌟🌟🌟🌟🌟🌟🌟

[@phenommarketing8844]

Great content, when Mr.Phenom found you. He was impressed

[@thefutur]

Welcome to the Futur

[@wasiuraji5550]

I wish I leave next door to uncle Chris, like children running to get answer from daddy :). "Education for Life" thanks

[@simbarashekunedzimwe1372]

oh thank you!

[@abhinavsirohi]

Anchoring used well

[@klipschs]

Thats a great tip! Been struggling with it. Love your work!