How to Negotiate (or, "The Art of Dealmaking") | Tim Ferriss

Tips, techniques, and resources for negotiation and dealmaking.
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About Tim Ferriss:
Tim Ferriss is one of Fast Company’s “Most Innovative Business People” and an early-stage tech investor/advisor in Uber, Facebook, Twitter, Shopify, Duolingo, Alibaba, and 50+ other companies. He is also the author of five #1 New York Times and Wall Street Journal bestsellers: The 4-Hour Workweek, The 4-Hour Body, The 4-Hour Chef, Tools of Titans and Tribe of Mentors. The Observer and other media have named him “the Oprah of audio” due to the influence of his podcast, The Tim Ferriss Show, which has exceeded 400 million downloads and been selected for “Best of iTunes” three years running.
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[@Cherrybomb888]

In my 23 years of Sales I’ve found that the latter art of avoiding negotiation by perfecting my presentation & being my most authentic self works best.

[@csgecko]

this

[@olliedoteth2763]

If you avoid negotiation.. how do you know whether that was best? (I am currently in the running for 2 jobs and have not had the wage discussion for the job I am more interested in despite having 3 interviews)

[@kaleidoscopegaming7261]

thanks for the wise words

[@VittamarFasuthAkbin]

@@olliedoteth2763 you don't know it. You decide for what to do for certain things, which means sacrificing others.

[@A-Clear_View]

5th reply

[@compound26]

Books mentioned in this video: 1.Influence by Robert Cialdiani 2. Secrets of power negotiating by Roger Dawson(Tim listened to the audiobook) 3.Getting past no by William Ury (“This is like a follow up to the getting to yes book. “ -Tim Ferris) 4. Getting to Yes by Roger Fisher and William Ury 5. Selling to the affluent By Dr.Thomas J Stanley

[@Champakiya]

Tnx

[@bond7565]

Thank you

[@LeoandLongevity]

There is a wonderful book on the subject by Howard Raiffa called the Art and Science of Negotiation.

[@VAZZU]

In India; you ask for the price: they quote a price: you half it: they dont agree: you pretend to walk away slowly: they pitch a middle ground: you repitch your price: they disagree: you nod heads: they ask for a couple dollars more while packing the product for you: you agree and give a few dollars less: they accept it with dismay: you do the walk of a winner

[@gregk.6723]

What did you pay for that cow ?

[@VAZZU]

Greg K. Lolllll love it.

[@toshi456]

Cannot stand that mindset. Cancerous

[@harristengku7153]

@@toshi456 Its an art in some places. If you don't barter they seller will feel insulted in Arab's marketplaces

[@meowmeow1004]

lol sounds like mexico

[@hristokassovski]

Herb Cohen and his book Negotiate this is a masterpiece.

[@KeithSoOfficial]

Yes Tim! I agree this is one of the best skills to master for life! 1. He or she who cares the least wins 2. Practice fear setting 3. Don't have to flinch, pause instead. Ask "Is that the best you can do?" 4. Avoid negotiation by having structure of your offer (e.g. charge premium - the best price is now because it could go up soon)

[@craft018]

Thank you for these valuable videos (and books and podcasts) Tim. You have no idea how much you've changed my life for the better. Seriously, thanks.

[@ShervinShares]

Killing it with creating KZbin videos! I love these Tim!

[@KR-ei2fw]

Thank you! You are incredibly generous. You have become one of my favorite teachers.

[@mylesjoseph]

I just got my degree in International Business & Entrep. One of the last classes I took was titled The Art and Science of Negotiation. This was one of the few useful classes I've taken in my four years and yes I picked wisely. A lot of the themes discussed in this video and the books recommended were all taught in my class. What I'm getting at is I now have regained confidence in college education. Haha.

[@blessingejedohgerald5222]

What school did you apply for that?

[@artemkuchuk3073]

Shouldn’t that have devalued college education? Going by the premise that that information could’ve been acquired through a 8 minute KZbin video?

[@coreydavis2894]

Yea that doesn’t seem like a confidence builder in college. It shows college is useless lol. Thousands in dollars of lifetime debt? Or watch KZbin videos for free?

[@gedewahyu.p]

It's not that easy. Their degree confirms the quality of the content, that the quality is robust, not devaluing their college education.@@artemkuchuk3073

[@A-Clear_View]

5th reply

[@theuniverseofothman7660]

I love you Tim Ferris. Thank you so much. This multitude of effective info arrives at the right time in my journey. Note: To rewatch video. And download all influence books. ☮️🙌🏼

[@chrisfiacco7173]

I have been loving all the short videos you have been putting out recently, and the Kevin Hart podcast was excellent. Thanks for that Timbo!

[@MMPearl5A18]

I would love to hear Tim Ferris interview Dr. Robert Cialdini!!

[@danikhan5185]

Tim should have more subscribers and viewers to the type of content he is putting out.

[@aatikchopra]

appreciate your re-visited format of KZbin videos, Tim. excellent content that was missing from this platform.

[@A-Clear_View]

5th like

[@Inspired_Leaves8]

Hey Tim. The tips to negotiation in this video were very helpful. 💙

[@TheHumanRanger]

Thanks for all the great videos Tim!

[@maw4855]

you forgot "never split the difference" ... relatively new book but very good

[@user-yu4uh8gr9o]

amazing, eye opening material to get into this topic. Bravo!

[@thiagoslivak5894]

Quick summary: Book: Influence - Robert B. Cialdini He or she who cares the least wins Fear setting Make the counterpart negotiate with themselves: Get the other person to make the first offer (show their hand) -> Then you flinch (ahhhh, ohhhh) or Pause... Wait... Is that the best you can do? Book: Secrets of Power Negotiating - Roger Dawson Book: Getting Past No - William L. Ury. Book: Getting to Yes - Roger Fisher and William L. Ury. Avoiding Negotiation (structure your life to avoid some tipos of negotiation Everyone prepays / Don’t offer discounts / Charge a premium Book: Selling to the Affluent - Dr. Thomas J. Stanley

[@MMPearl5A18]

“Getting Past No” is my number one recommendation for a book on negotiation! I would love to hear Tim interview William Ury someday.

[@alyssaevelyn88]

You are a great mentor. Thank you and namaste 🙏🏻

[@federico83bg]

Thanks for all these recomendations!

[@evijalai7463]

Comments?..All the above. ..And I love the way you explain things, easy to understand and convert, execute in life. Thank you.

[@ArchitecturalAesthetics2046]

excellent video, very informative, thanks for the reading list recommendation.

[@Talkinglife]

Swallow your fears and make the first bid. ... Use silence to your advantage. ... Definitely plan for the worst, but always expect the best. ... Never set a range. ... Never give without taking (in a good way). ... Try to never negotiate "alone always go for win win

[@thetechbox911]

What a great person this Tim ❤ Thank you

[@salemmohammed4023]

Thank you, I needed to hear that today.

[@erikdavidek7063]

Love the little video nugget, Tim! Like a Tools of Titans podcast for my eyes.

[@emanuelperdis8289]

I Love your content Tim... so, on the money... It's Pure & RAW and that's why you as a branded product ROAR!!

[@MayaNazareth]

Thanks for such a helpful video! It really inspires me, your competence at wearing so many hats!

[@taowaycamino4891]

I always have to remember that negotiating or selling starts with self and the life ideas I negotiate or buy into on each and every moment of my life. I've always seen negotiation or selling books in the category of "Business", "life directing" or even "spiritual books"(as odd as that may sound), because I find they are part of such category(or at least I negotiate, sell or buy myself into such idea. Pun intended).

[@taforth]

Definitely some good points were made, however I disagree with having the other person start. This can often result in the negotiation getting pulled too far towards what they would ideally like, and it can then be very difficult to get the to compromise towards an equitable agreement for both parties, without them losing face.

[@ChiChi-sw5iu]

I was wondering why this guy is so good. Oh it's cuz it's Tim Ferris

[@harrypidd4755]

This was super helpful, thanks!

[@hjalmarxyz]

Golden tips! Thanks Tim!

[@JasonSilverstein]

Good video. I remember listening to Roger Dawson's program many times. I have it on cassette tape.

[@TheScottGillies]

I read Getting to Yes at a pretty young age, will definitely check out Getting Past No.

[@p1aym_vlog]

Very useful video! I also really liked the booklist here. I was wandering to read new books, came up to Tims book club and found there very few really good books. I wish Tim had a bigger book club or a separate book list. I was looking for a new book on marketing mostly and I wish I had some of these books recommended earlier. Anyway... Once again amazing video, very fastinating!

[@user-nl8ow3jo8f]

Thanks Tim!

[@TheOptimistsPodcast]

am gunna apply this tomorrow morning... Goin in strong

[@Nathan-ls4xt]

Tim my good man, do you also offer transcripts for these short videos as well as your podcasts? I use your videos with some of my English students and they absolutely love them.

[@elmacaplin6397]

Tiffani Bova's "Growth IQ" is one of the best books about optimizing sales that I found. In order to grow profit, we need to maintain a high level of customer experience. The likelihood of selling to an existing customer is 60-70% whereas the likelihood of selling to a new customer is 5-20%. Business intelligence on potential customers is therefore key.

[@ayushthakur6112]

Great advice!

[@truenorthaffirmations7049]

Bringing our mind and beliefs to the next level🔥🤘

[@dusanhein5970]

Thanks, Tim

[@jimihendrixx11]

Selling to the Affluent sounds like a good one. Theres another gem - The art of negotiation or something like that Harvard Business Review - Negotiation is like Jazz - that quote stuck with me...I think that is a must read

[@ashleylemmer8016]

Thanks Tim

[@EpicFinance]

When I grow up, I want to be like Tim.

[@thehari75]

I guess ur a 27 yr old kid

[@EpicFinance]

Harris 05 Actually i’m a 31 year old kid! Thanks for the compliment!

[@markdanielle2135]

so, you want also to be bald

[@EpicFinance]

Mark Danielle 😂 I don’t wanna be that much like Tim. Only the mind ;)

[@butchledesma2368]

You have to went through alot mentally if you want to have his kind of thinking.

[@KylerGamesT]

Genuine advice and mentor

[@princessmepartieslosangele9883]

Thanks Tim! Great book recommendations. Added them to my playlist. The practice of using a locked in price for your podcast advertising rather than negotiating and changing the price as you grow must save so much time. Time is money

[@rodrigomaroja5758]

Great Advice!!!

[@TheTeeProd]

Great video

[@rockyp3917]

Great Video Tim-Tim

[@ervinvillagran958]

Thanks Tim, it's all i can say

[@MultiAustin86]

I’m hoping the person I’m going to negotiate with hasn’t watched this...

[@user-gi8pm2mz9v]

😂😂

[@chadwalkaden6375]

More of this and in different format!

[@Vampurp]

my hero

[@arminrau-makingstartupspro7878]

Great advice, Tim. Ties in neatly with a video I made for my own channel called "Horses For Courses" :-)

[@blockchainbrudda3051]

Got pulled over after picking up my car from the sprayshop. Car had no number plate. Cops pulled me over instantly. And took me to the pound. Had to pay $100 to get the car released. I tried to negotiate but I folded because I was scared and felt in the wrong. I could have handled this better but I learnt a valuable lesson. Thanks for this !

[@MrHansdip]

@Tim Ferris I find the advice of Barry Nalebuff from the Yale Business school to be very helpful.Would be great for you to have him on the podcast.

[@romobeat1771]

Never split the difference by Chris Voss is the best book I've ever read about the subject.

[@SamMartinPeakPerformance]

That one is a serious gamechanger

[@operationblackbishop4785]

Yeah, strange it was not mentioned.

[@begensis]

Tim is such a good writer. Avoiding using the art of deal

[@BLAISEDAHL96]

Sweet! I’m assuming you’ll be uploading videos about writing and public speaking?

[@juanmasanchezcervantes1647]

Great advices. I’d like just to add one more: to win is not the most important thing you can do in your life.

[@mycomage]

Never Split the Difference by Chris Voss

[@nothingbuttest4458]

Wow !

[@bradleygerdes138]

Any exercises or tips on how to practice real negotiating on a small scale?

[@Benjamin-Chavez]

Great Vid. Love Tim. (or Tom depending on who you are asking or how drunk he is..)

[@joep973]

Good stuff=)

[@franz5998]

I can‘t believe you did not mention „Never split the difference“ by Voss..

[@ja.935g67]

What i found what works is when negotiating price is asking for the persons name and then saying I want the "insert their their name here" price and you say it in a funny way that make them laugh 😂

[@operationblackbishop4785]

I've read all of them and top for me would be Influence by Cialdini and Never Split the Difference by Chris Voss.

[@stormtrooper3381]

I find I make fast rapport with my prospects. Which leads some to ask for discounts. Outside of standard responses like thank you for this question can you explain to me what we are missing or our software covers all of your needs. Maybe I just need to push back on them and say we should be higher priced already. That we intend to raise our prices soon? Which isn’t false because that reality is coming. Feedback on discount would be great.

[@JurijPopotnig]

Go for a win win if it's no win win it's no real deal. That's the only advice I need. :)))

[@Chefboyarcezz]

I’m glad I clicked on this

[@zhaolabs]

So funny...just started a sales job. This video came at the perfect time

[@lordpimpjuice1503]

Check out Grant Cardones old videos

[@zhaolabs]

@@lordpimpjuice1503 ty! Appreciate the recommendation

[@johnbrooks527]

Do one of these on public speaking.

[@lettucemuncher582]

tried the techniques now my land lord pays me monthly

[@1091Floyd21]

He could have elaborated a bit more on the "is that the best you can do?" question. As in what's the intention of it, and how do people react to it.

[@MrMango083]

Never Split the Difference by Chris Voss is a better negotiation book I think. I wouldnt mind hearing Tim interview him.

[@abdulref]

Hey Tim, Chris Voss is one of the best out there when it comes to negotiations. Would you consider a podcast episode?

[@hotlucky5622]

best method of negotiating: "take it or leave it", peace of mind maxx

[@carcessoriessingapore5074]

How are these advise “negotiations”? Seems like jus “doing business skills”. Was looking for negotiations microskills.

[@lbrry0290]

❤️❤️❤️

[@shamatemple]

I am on a NO-negotiation lane 😗 less headache

[@ligmaballz1]

I am in a high-end ($$) sales / procurement industry and when the person whom I'm negotiating throws out a price, even if it's below what I want to pay, I always wince like a have a tooth ache, then let the silence marinate. They'll often then start to negotiate against themselves. teehee

[@Timtalks_]

Only thing I'd add to this, is that you can't successfully negotiate without leading with the right questions

[@tamarawanderlust]

🥰

[@mnejc]

Never Split the Difference by Chris Voss, the FBI anti-terrorist negotiator.

[@Nash4Nashville]

The Art Of The Deal?

[@bastianrivero]

I can sit in silence, no problem 😂

[@pineapplaplatypotamus]

It’s a really awkward art isn’t it

[@negadayyy258]

Ничено непонятно

[@pranakhan]

Of all the wicked problems that I face in this world today, I'm trying to figure out how you shave your head during all of this Great techniques. Do you think you could get some people together who could use these to keep America from falling apart? That would be grrreat, thanks

[@AdrianaVata]

Can you do a video about on how to live a bad/miserable/ life and put sarcasm in it? 👍🏻 i challenge you to make me laugh

[@x24gamingteam66]

This Theory doesnt work on me because I dont negotiate. When I say a price, take it or leave it. Because I care the least.

[@vmizzell]

How can I get you to read and do a video on "Never Split the Difference" by Chris Voss? Do you want people to say that you haven't read everything on the subject? Including the most powerful techniques taken from FBI hostage negotiations?

[@negadayyy258]

Не понимаю на языке угрей сори

[@xelliose]

I am trying to get this angel investor to sponsor my upcoming novel (still writing... slowwww.....) can be endorsement, money, promotion channel, etc.... figuring out what is the best deal.

[@bikin2008]

Well what are you willing to sacrifice

[@xelliose]

erm.. my womb space? thats the limit.