10 Rules of Negotiation: How to Win Every Deal

TLDRLearn the 10 rules of negotiation to always come out on top. Rule number one: don't negotiate unless necessary. Rule number two: never negotiate with yourself. Rule number three: never accept the first offer. Rule number four: avoid making the first offer. Rule number five: listen more, talk less. Rule number six: never give anyone a free gift. Rule number seven: watch out for salami tactics. Rule number eight: avoid rookie's regret. Rule number nine: don't rush into quick deals. Rule number ten: never reveal your bottom line.

Key insights

🚫Rule number one: Don't negotiate unless necessary.

💬Rule number two: Never negotiate with yourself.

💲Rule number three: Never accept the first offer.

👂Rule number five: Listen more, talk less.

🎁Rule number six: Never give anyone a free gift.

Q&A

When should I negotiate?

—You should only negotiate when it's necessary and beneficial for you.

Why shouldn't I negotiate with myself?

—Negotiating with yourself can lead to undervaluing your position and making unnecessary concessions.

How do I avoid rookie's regret?

—Ask yourself the three trading questions: What will it cost you? What is it worth to the other party? What do you want in return?

Why should I avoid quick deals?

—Quick deals can lead to missed opportunities and disadvantages for you.

Why shouldn't I reveal my bottom line?

—Revealing your bottom line can weaken your position and give the other party an advantage.

Timestamped Summary

00:06Introduction to the 10 rules of negotiation.

01:07Rule number one: Don't negotiate unless necessary.

01:19Rule number two: Never negotiate with yourself.

02:01Rule number three: Never accept the first offer.

03:26Rule number five: Listen more, talk less.

04:24Rule number six: Never give anyone a free gift.

05:50Rule number nine: Don't rush into quick deals.

09:05Rule number ten: Never reveal your bottom line.

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