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The Gentle Art Of Negotiating And How To Do Exceptionally Well.

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I seem to be teaching a lot of people in their 20’s lately about negotiating. There’s an art to creating a mutual win also known as negotiating.

Negotiating is a skill many people never learn. That’s why we say yes to an offer we’re not happy with or have regrets that we could have gone the extra mile and requested more money/people/resources etc.

Here’s how to negotiate properly and do well:


Never go first.

No matter what happens, never go first in the negotiation. Think of negotiating like a game of poker.

You want to see what cards they have first before you make your move. The moment someone knows what cards you’re holding, they may choose to take advantage of you (they may not as well).

Leave it to the other side to make an offer first.


Always be respectful.

The biggest problem with negotiating is people’s egos get in the way. Lead with respect and you’ll get what you want. Respect means understanding their point of view and trying to see things from the other side of the fence.

“Listening and rebutting their arguments with respect is how you master the gentle art of negotiating”

No one wants to see and hear your big fat ego and be spoken down to. You may have more money, a bigger company or more success, but that doesn’t mean anything if you don’t show respect.


Counter-offer.

Many of my millennial friends make the mistake of thinking that the first offer is all that’s on the table. The first offer is normally what is referred to in sales as a “low ball.”

The first offer is where the other side is testing the water to see what you’re thinking. Don’t fall for the low ball. Think of the first offer as research and not as genuine and final.

Once the first offer is out there, it’s time to counter-offer. They’ve tested the bottom and now it’s time for you to test the top.

Go with a really high ‘ask’ or number. Observe their reaction carefully. They’ll probably hit you back with an offer that’s in the middle or lower than yours.

There’s no magic trick here other than keeping the idea that mutual value is a must for a successful negotiation.

If you get all the wins, then the deal could fall over later on because of it. When both sides are happy, you’ve mastered the gentle art of negotiating and mutual value.


Walk away from the deal.

There will be times when the other side only wants to give you one offer or won’t go any further. If you haven’t reached a point of mutual value, walk away. If your gut feeling doesn’t feel right, walk away.

There will always be another deal, another opportunity.

Having regrets is far worse than any other outcome that can stem from a negotiation.


Sleep on it.

Walking away doesn’t end there. You can always re-join a negotiation even though you probably think you can’t. You have to battle this mental block and see blue sky and opportunity.

Nothing is ever final. The other side will almost always come back to the deal table. If they don’t, the deal wasn’t meant to be.

After you’ve walked away from a deal, my recommendation is always to sleep on it. I have the same advice for making important decisions, dealing with haters online and deciding who your next romantic partner will be. Always sleep on it.

When you have loads of energy after a good night’s sleep, you think differently and you act differently. I walked away from a deal that meant a lot to me and after I woke up the next day, I realized I wasn’t grateful for the offer I had received or the relationships I had built.

I rang up the other side and told them this flaw from the negotiation we had been going through. They were so happy that I had come to this realization and offered me something even better than what we were discussing previously.

Always reset that million-year-old brain of yours before making any negotiation or decision final.


Try a different angle.

If the negotiation is not going your way, then try another angle. Think of something that is totally counter-intuitive and different to what you pitched previously. Find another way. Change your thinking.

Sometimes the best negotiations are ones where both sides realize they were thinking about the deal wrong.


Allow the other person silence to think.

People that understand silence are superhuman. In a negotiation, when you make an offer, you need to shut up.

The worst thing you can do is keep talking. You need to allow the other side to think about what you’ve said and the offer you have put on the table.

Big gaps of silence in a negotiation are a good thing. It means you have the other side’s attention. It’s a sign that you’re reaching a middle ground — also known as mutual value.


Don’t ever answer your own questions.

Questions are the main tool you use in every negotiation. Don’t say something dumb like “Would you accept my offer of $20,000 to do the project? That offer is probably too high though isn’t it for you?”

Answering your own question takes the offer you’re proposing off the table straight away. If you know the offer you’ve pitched is dumb, then you probably shouldn’t have pitched it in the first place.


Create urgency through deadlines.

Some negotiations, like Slack conversations, never end. They go on forever and an end is never in sight. You need to create urgency so that the negotiation will come to an end. Even if the endpoint is made up, you must have one.

If you’re waiting for the other side to respond to your offer, then give them a timeframe. Tell them a legitimate reason why your offer is time critical. Say this why thinking in your head “Everything is time critical including life itself.”


Bring in a third party that they can never talk too.

The deal may be going too fast as well. If you need to buy time you can slow everything down by introducing a third-party that the other side can never meet. The classic example of this is in the home improvements business.

A builder may go to visit the home and provide a quote. At the end of the quotation, they’ll ask for the business and the homeowner will say “I need to talk to my partner to see what they think.”

The builder can’t talk to the partner because they’re not there, so it slows down the negotiation. The same can work in business, your career and your personal life.


Finish the negotiation on a high.

No matter the outcome, finish the negotiation on a high. Tell the other side how much you respect their position. Finish with this line:

“I’m always open to opportunities, so if you see something that may interest me, my door is always open.”

If the negotiation is in the other parties’ hands, finish with this line:

“Whatever you decide, if the deal is not right, I’ll shake your hand and wish you all the best.”

Those two lines are how you finish a negotiation on a high.

“In a negotiation, people remember the person you are, not the deal you’re negotiating”

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

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Entrepreneurs

10 Lucrative Buy and Sell Businesses to Start in 2024

The buy-and-sell business model provides opportunities across many niches

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Businesses to start in 2024

In the dynamic landscape of 2024, starting a business that capitalizes on buy-and-sell models can be incredibly lucrative. This article explores ten different models that entrepreneurs can consider. These ventures range from real estate flipping to trading in domains and luxury items, providing a broad spectrum of opportunities regardless of your initial capital or interest area.

1. Car Flipping

Flipping cars can be a very lucrative business venture for an individual with business acumen, an eye for value, and mechanically adept at cars. It involves buying under-priced cars, restoring, and selling them for a profit. For deeper insights and opportunities in this market, refer to sca.auction.

2. Real Estate Flipping

Flipping real estate—be it houses, condos, or even commercial properties—remains pretty solid business, especially in markets where real estate values are on the way up. Investors buy properties relatively low, do rehab or renovation, then sell at a profit.

The success of the area is endowed with a huge potential spotlight, the ability to juggle various elements such as local real estate market knowledge, and efficient management of renovations.

3. Vintage E-commerce

With the advent of technology, it became easy to sell vintage or retro items over the online selling platform. Be it clothes, furniture, or even collectibles, consumers these days prefer something unique that is eco-friendly and which may have a nostalgia quotient in it. Hence, it brings the opportunity to open an e-commerce shop effectively.

4. Domain Flipping

If you have the skill to predict catchy phrases or business names that would be popular in the future, then buying and selling domain names would be a very profitable business. Register prices are available to purchase domains, which later can be sold at high prices to interested parties or businesses that wish to get an early online identity.

5. Luxury Items

One of the most promising buy-and-sell businesses is the luxury market, and what makes it very attractive is its less sensitivity towards economic downturns. Some of the common items in the luxury market include high-end watches, jewelry, and art, rare cars, all with high yields. Most times, items do appreciate, especially when they are limited editions.

6. Sports Memorabilia

While the sports memorabilia trading business can at times seem lucrative, especially when one focuses on big personae or big events, authenticity and rarity can definitely help items fetch top dollar. Provenance and limited supply both go towards inflating their values.

7. Sneaker Reselling

In recent years, the sneaker resale market has exploded, fueled by a commodity of scarce releases and athletic brand collaborations with a list of celebrities. Today, with operations such as StockX and GOAT, it’s really that easy to break into the worldwide market. It’s pretty easy to find your buyers and make a very good profit if you’re targeting the right trend and releases.

8. Book Flipping

Flipping rare and first editions can become a really meaningful, and yes, one more profitable, business for a book lover. Sometimes the signed ones, rare manuscripts, or those early editions of famous novels could sell for thousands of dollars, usually done by collectors or academic institutions.

9. Furniture Upcycling

Upcycling furniture consists of restoring and using second-hand furniture to sell it at a higher price. For the environmentally aware consumer, this business model has great appeal. It could be pretty profitable if done with good taste and talent in design and restoration.

10. Electronics Flipping

Smartphones, tablets, and laptops resell at values significantly high; hence, business ensues. Buy, refurbish, and sell in better condition to appeal to budget-minded consumers looking for technology at more affordable price points. 

Overall, The buy-and-sell business model provides opportunities across many niches. Be it real estate flipping or vintage item upcycling, you can succeed in both models with market understanding and trend application. That, with careful planning and strategic investment, will throw huge financial returns for these business models in 2024.

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Entrepreneurs

How Your Business Can Outmaneuver Your Competitors by 85%

Did you know that companies that master big data can outmaneuver competitors by 85% in sales

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big data strategy

Did you know that companies that master big data can outmaneuver competitors by 85% in sales and more than 25% in gross margins? Sounds inspiring, right? But the thing is that data alone isn’t enough. Rather, it’s the strategy behind it that unlocks these enviable boosts. So, this article explores how to make the most out of your big data and build a strategy that’s functional and competitive. (more…)

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Entrepreneurs

Most Entrepreneurs Fail to Do This and It’s Killing Their Success

Celebrating progress also provides entrepreneurs with the psychological sustenance needed to endure the marathon of building a business

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celebrate your milestones

The journey from a mere concept to a tangible reality is one of the most exhilarating yet challenging paths an entrepreneur can navigate. This odyssey is punctuated by milestones that stand as testaments to perseverance, innovation, and relentless hard work.  (more…)

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Entrepreneurs

9 Ways Augmented Reality Gives Your Business a Competitive Edge

By embracing AR technology, companies can unlock new opportunities for growth, innovation, and success

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augmented reality in business

Leveraging Augmented Reality for Business Advancement: Exploring Applications

In the ever-evolving landscape of business innovation, Augmented Reality in business emerges as a transformative force, reshaping traditional paradigms and unlocking new opportunities for growth and advancement.

Through a comprehensive examination of AR’s capabilities, applications, and business benefits, this article serves as a roadmap for enterprises seeking to harness the full potential of augmented reality to propel their success in the digital age.

UNI.Agency as a forefront developmental agency tailors unmatched digital products and immersive experiences. They help companies outperform their competitors and customers’ expectations. And now, there is time to delve deep into the AR realm.

Gaining Insight into Augmented Reality

From revolutionizing customer experiences to optimizing operational efficiency, AR in retail is poised to drive significant advancements in how businesses operate and engage with their stakeholders.

Augmented Reality (AR) seamlessly integrates digital information and virtual objects into the real-world environment, offering users an immersive and interactive experience through devices like smartphones or AR glasses.

It revolutionizes various industries, from entertainment to healthcare, by enhancing perception and creating innovative opportunities for engagement and exploration in the digital era. AR not only enriches our understanding of reality but also opens up new possibilities for creativity, communication, and problem-solving, making it a powerful tool for businesses seeking to enhance customer experiences and streamline operations in an increasingly digital world.

Differentiating Augmented Reality and Virtual Reality

Augmented Reality (AR) overlays digital elements onto the real world, enhancing the user’s perception of their environment. Virtual Reality (VR), however, immerses users in entirely virtual environments, blocking out the real world. There are some core differences between these two technologies in gear and display approaches:

  • AR enriches reality with digital information, while VR creates entirely immersive virtual experiences.
  • AR typically requires less specialized hardware, like smartphones or AR glasses, while VR often involves dedicated headsets.
  • AR is commonly used for enhancing real-world experiences, such as in gaming, retail, and navigation, encouraging augmented reality shopping. Whereas VR is primarily employed for immersive simulations, training, and entertainment in fully virtual environments.

The Influence of AR on the Customer Experience Journey

As of 2024, Augmented Reality (AR) has evolved into an indispensable tool across various sectors, offering immersive and interactive experiences that seamlessly blend digital elements with the real world.

Stimulating Interest

Augmented Reality (AR) captivates customers by offering visually engaging experiences that spark curiosity and intrigue, enticing them to explore products or services further.

AR’s ability to overlay digital content onto the real world creates an immersive and attention-grabbing experience, drawing customers in and igniting their interest.

Educating and Empowering Users

AR in business empowers users by providing interactive and informative experiences that educate them about products, services, or concepts in a visually compelling manner.

Through AR, customers can interact with virtual models, animations, or informational overlays, gaining a deeper understanding of the features, benefits, or use cases of the offerings.

Exploring Further Depths

AR encourages customers to delve deeper into products or services by offering immersive and interactive experiences that go beyond traditional marketing materials.

By allowing users to explore virtual representations of products in real-world contexts, AR in retail provides a unique opportunity for customers to visualize how offerings fit into their lives, fostering deeper engagement and understanding.

Business Benefits of Augmented Reality

Businesses utilize AR for diverse applications, including product visualization, virtual try-ons, and enhanced customer engagement. In education, AR transforms learning experiences by providing interactive simulations and visualizations.

Additionally, AR has become integral to industries such as healthcare, where it facilitates surgical training and patient education. With advancements in AR technology and widespread adoption, it continues to shape how we perceive and interact with our environment, ushering in a new era of innovation and connectivity.

Let’s look at why AR has become so indispensable as a business tool nowadays.

Revolutionizing Training Methods

AR in business transforms training by offering immersive, interactive simulations that replicate real-world scenarios, enhancing employee learning and skill development.

It’s lucrative for hands-on training experiences. Since there’s no need for physical equipment or environments, reducing costs and logistical constraints while improving knowledge retention and performance.

Boosting Productivity Levels

Augmented Reality in business boosts productivity by providing real-time access to information and guidance, allowing employees to complete tasks more efficiently and accurately.

Through AR-powered tools and applications, workers can streamline workflows, troubleshoot issues, and collaborate effectively, resulting in increased output and operational efficiency.

Implementing Dynamic Marketing Approaches

AR enables businesses to implement dynamic marketing strategies that captivate and engage audiences in unique ways.

By integrating AR into marketing campaigns, companies can create interactive experiences that drive brand awareness, customer engagement, and sales conversions, setting themselves apart in a crowded marketplace.

Fostering Product Development

Augmented reality and marketing foster innovation in product development by facilitating virtual prototyping, design iterations, and collaborative decision-making.

With AR, teams can visualize and test product concepts in 3D, gather feedback from stakeholders, and make informed design decisions faster, leading to faster time-to-market and more successful product launches.

Creating Tailored Customer Experiences

AR creates personalized customer experiences by allowing users to interact with products and services in customized ways.

Through AR-enhanced applications and experiences, businesses can tailor content, recommendations, and promotions to individual preferences and behaviors, enhancing customer satisfaction and loyalty.

Amplifying Brand Recognition

Augmented Reality shopping amplifies brand recognition by providing memorable and shareable experiences that leave a lasting impression on customers.

By incorporating AR into branding initiatives, companies can create immersive brand experiences that spark conversations, increase social media engagement, and strengthen brand loyalty, ultimately driving business growth and success.

Final Thoughts

In conclusion, Augmented Reality in business stands as a transformative force, offering a multitude of benefits across various aspects of operations. From revolutionizing training methods to boosting productivity levels, AR empowers businesses to thrive in an increasingly competitive environment.

By embracing AR technology, companies can unlock new opportunities for growth, innovation, and success, while delivering immersive and engaging experiences that resonate with customers and stakeholders alike.

As AR continues to evolve and integrate into everyday business practices, Uni will incorporate the best practices to promote business advancement and drive meaningful change for the clients. We’re to shape the future of commerce to your benefit.

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