Access the essential membership for Modern Managers
Transcript
Narrator: Ever shy away from asking for more? Better working arrangements? A bigger team?
Sometimes you might stop short of asking for what you really want. But, doing this can put your long-term opportunities at risk.
For example, when you do ask for something, say, a 5 percent discount on a new car, you might get the deal straight away. But this can leave you with buyer's regret. You wished you'd ask for more.
Next time around, try the anchor effect. This is when you set a bargaining range to help steer the direction the way you want it to go. When setting your anchor point, be realistic. Anchor too high, and the other party might walk away. Make sure you've researched your position, and that of the other person you're negotiating with.
Going in at 15 percent will likely get you higher than 5 percent. Plus, you'll have a more fruitful discussion. So, anchor first, and anchor high. You'll get a better result if you do.
Reflective Questions
Once you've watched the video, reflect on what you've learned by answering the following questions:
- What are the things you want at work, but have never asked for?
- What's stopping you from asking for what you want?
- Have you ever used the anchoring technique in a negotiation? What was the outcome?
