Everyday Espionage Podcast - The Secret Shortcut to Winning Negotiations | Andrew Bustamante

Introduction

In this section, Andrew Bustamante introduces himself and the topic of the video.

• Andrew Bustamante introduces himself as the host of "Everyday Espionage".

• The video will discuss how to make sure that every proposal, bid for work, or negotiation puts you in a position where you're going to win.

Mistake #1: Thinking About Yourself First

In this section, Andrew discusses the first mistake people make when submitting proposals or making offers.

Starting from a Wrong Perspective

• The first question people ask themselves is what they have to make and how much they need to earn.

• This perspective is wrong because service providers are there to serve their customers.

• Customers think about themselves first, so thinking about yourself first creates no common ground between you and your customer.

Importance of Thinking About Your Customer First

• When you think about your customer first, you have something in common with them.

• This increases the probability that you'll create a proposal or an offer that the customer agrees with.

• It's almost impossible for a customer to think about a service provider before thinking about themselves.

Trick to Making Money

In this section, Andrew explains the trick to making money.

Less About What You Think You're Worth

• Making money is less about having someone pay you what you think you're worth.

• It's more often about having people pay you less than they think you're worth.

Winning Negotiations and Proposals

• If you can win negotiations and proposals, then money won't be an issue.

• To win negotiations and proposals, start by thinking about your customer first.

Understanding Your Worth

In this section, the speaker discusses how people often undervalue themselves and how businesses value their employees. The speaker also provides tips on how to close the gap between what you think you're worth and what others think you're worth.

Undervaluing Yourself

• People often undervalue themselves when thinking about their worth.

• Businesses hire employees based on the belief that they will create 300% more revenue for the company than what they cost.

• Employees in roles that generate revenue are expected to create 500-700 times more than what they cost.

Customer Perspective

• Customers do not accurately assess your true value.

• Customers assume that you are worth less than what you are really worth.

Gap Between Business Owner/Salesperson and Customer

• There is a fundamental lack of understanding of each other's value between business owners/salespeople and customers.

• This leads to hurt feelings, arguments, and debates during negotiations.

Closing the Gap

• Assume that other people will think about themselves first.

• Offer something that benefits the other person because they are thinking about themselves.

• By doing these two things together, you can hijack the decision-making process of the other person.

Example: Car Salesman

• A car salesman should assume that a customer who walks into a dealership is looking for a car.

• The salesman should also assume that the customer does not want to talk to a salesperson but rather browse and look around.

Understanding the Customer's Needs

In this section, the speaker talks about how a car salesperson should approach a customer and understand their needs. The speaker also explains how to offer something that benefits the customer before it benefits you.

Approaching the Customer

• A car salesperson should let the customer come in and browse first.

• Introduce yourself by saying "Hey my name's Andy/Brian can I help you today?"

• Think about what the customer wants and needs.

Offering Something That Benefits the Customer

• Offer something that benefits the customer before it benefits you.

• A good car salesman knows what a customer wants.

• Show them inside cars in the showroom floor where it's comfortable.

• Make them feel good and help them move forward in the sales process.

Offering What Customers Want

In this section, the speaker continues to explain how to offer something that customers want. The speaker uses examples of bad car salesmen who try to pressure customers into buying expensive cars or financing plans.

What Customers Want

• Customers want things that make them feel good.

• They want to see inside cars, have a cup of coffee, or watch TV while browsing.

• Don't push customers into buying expensive cars or financing plans.

Focusing on Customer Needs During Negotiations

In this section, the speaker talks about how negotiations with customers should focus on their needs. The speaker shares an example of negotiating with someone who submitted an unrealistic proposal.

Focusing on Customer Needs During Negotiations

• Negotiations should focus on what customers need.

• Be direct when negotiating with people.

• Tell them if their proposal is unrealistic.

The Importance of Anticipating Customer Needs

In this section, the speaker discusses how anticipating customer needs can help in negotiations.

Anticipating Customer Needs

• By thinking about what benefits the customer first, negotiators can anticipate their needs and stay one step ahead.

• Offering something that benefits the customer up front, even if it doesn't benefit the negotiator, puts them in an advantageous position.

Proposing a Lower Price Than Your Worth

In this section, the speaker explains why proposing a lower price than your worth is an effective negotiation tactic.

Proposing a Lower Price

• Always propose a price that is less than what you think you're worth and less than what the customer thinks you're worth.

• This makes negotiations go in your favor quickly because customers feel like they're getting a deal.

Renegotiation as an Opportunity for Both Parties to Win Again

In this section, the speaker emphasizes that renegotiation is always possible and can be beneficial for both parties.

Renegotiation as an Opportunity

• There is always room for renegotiation, even in the middle of a contract.

• Renegotiation is an opportunity for both parties to win again and set new expectations.

• Customers are more open to paying significantly higher amounts after seeing that you are worth more than what you initially proposed.

Setting Precedents

In this section, the speaker talks about how setting a bad precedent can lead to distrust and control issues with clients. He emphasizes the importance of putting the client first and offering them an incredible opportunity.

Importance of Putting Clients First

• The speaker explains that if you set a bad precedent with your client, they will doubt or distrust you.

• He advises against bullying clients into lower prices because it sets a precedent for controlling their activity and price in the future.

• Instead, he suggests being forward-leaning by offering clients something that benefits them and puts them first. This will make them trust you more.

Benefits of Being Client-Focused

• When you put your client first, they will believe that you understand their needs and want to do business with you.

• If you come back to renegotiate terms in the future, having established trust with your client means that you will have more control than before.

Everyday Espionage

In this section, the speaker introduces his podcast "Everyday Espionage" and encourages listeners to subscribe and share it. He also invites listeners to join him for an authentic spy training mission on his website.

Introduction to Everyday Espionage

• The speaker introduces his podcast "Everyday Espionage," which is dedicated to educating everyday people.

• He encourages listeners who learned something new from the podcast to subscribe, review, and share it with friends.

Authentic Spy Training Mission

• The speaker invites listeners to visit his website everydayspy.com/operations for an authentic spy training mission.

• He concludes by reminding listeners that knowledge is freedom.