NEGOTIATIONS
All this while, I was in McComb's Business School in Texas. There, we had a seminar on NEGOTIATIONS and one of the professor gave us a lecture on a principle called "The Power of Three"
Thereby, i just thought that it would be good if i discuss about this principle with all my readers so that it can help us in every negotiation we meet. The Theory goes like this.
- Fall in love with THREE of almost everything
- Visit your THIRD favourite first
Theory 1 says that in our lives, when we have to take decisions, we have one top most favourite. Every person has to take decisions in their respective fields. Students have to take decision in which college they want to get in, housewives have to decide which place to shop, etc. So, the theory says, when we have to decide on what to pick, we should not rely on only 1 stuff, but at least 3 stuffs. By doing this, we will not depend on only one, but we will have options.. If, we have only one favourite, we will not be in a situation to negotiate. Suppose, if you want to but a SUV, and you are determined to pick only Honda, then when you go to a Honda Dealer, he will give you a quotation, you think its too much! but you cannot do anything about it as all you want is a Honda. On the other hand, if u have 3 choices, Honda, Toyota and a Chevrolet, then you have the power to negotiate with each one of them. So, that explains why we should fall in love with 3 things at a time.
Theory 2 says that we should visit our third favourite first, this is because, by the time we visit our top favourite, we get to know so much about the deal and we are all set up to negotiate. Lets continue with our example of SUV. If my top favourite is a Honda, then come Toyota, and then finally comes the Chevrolet, You gotta visit the Chevrolet first then the Toyota and then The Honda dealer. This is because, by the time you reach your favourite, i.e, Honda, you will have a pretty good knowledge about the market, the price, the features and you will end up with a pretty decent deal..
This was the "THEORY OF THREE", hope all of you use it and implement it in your daily lives.
Cheers,
Akash Poddar
