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07-31-2019, 08:58 AM #1
- Join Date
- Aug 2018
- Posts
- 286
You go High, I go Low...
A car wholesaler is asking for $15,000 for a car.* The car dealer wants to buy it for $13,000.* The car dealer makes an opening offer of $11,000.
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An office equipment supplier is quoting an insurance agency $300 per desk.* The insurance agency believes that $225 is reasonable.* The insurance agency tells them they don’t want to exceed $150.
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A buyer is offering a manufacturing outfit $1.60 per widget.* The manufacturing outfit can live with $1.70, thus it starts its initial position at $1.80.
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These are real-life examples of what small business owners engage in every day: bargaining with vendors.* The lifeblood of their business’ growth depends on them finding and making deals.
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Why would they act any differently with you?
But you’re a*Funding Pro, their*Trusted Advisor.
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At first pull, you are a vendor just like the rest, and there is always a deal to be made.* Trust and rapport through quality of service will have to be gained.
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You got the merchant approved for $25,000!* Great job.
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(Merchant really thinks he needs $50,000 for their project, their objective.)
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Merchant tells you that’s not enough, he needs $75,000.*Sound familiar?
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The merchant asked for more than he could expect to get so he can use the*Bracket Technique*on you.
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What is the Bracket Technique?
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Its’ when you*ask for more than you expect*to get by proposing a position that is an equal distance on the other side of your objective as their proposal.* The assumption here is that you’ll meet in the middle between the two opening positions.*It doesn’t always happen, but it happens often enough that merchants will deploy this on you every day.
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So, does the merchant really need that $75,000 to get the deal done?
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Be on the lookout for the Bracket Technique being used on you.**How have you worked through this in the past to serve the merchant and get the deal closed?
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-FundingStrategist
https://fundingstrat.com
https://fundingstrat.com/you-go-high-i-go-low/
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