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Young Millionaires

7 Practical Tips Coming From The Youngest Highest Paid Internet Consultant In The World

7 Practical Tips Coming From The Youngest Highest Paid Internet Consultant In The World
Image credit: Entrepreneur India
Guest Writer
Founder, One Percent Mindset
6 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Everybody would improve their lives if they knew how to negotiate better. You could be negotiating anything from telling your kids to go to bed, getting a discount at a store, asking for a raise, to doing multi-million dollar deals. I recently had a +3-hour session with the Youngest Highest Paid Internet Consultant in the World, Matt Pocius and look if he's able to make +$5,000 an hour consulting at 18...then he has to be a master negotiator.

You don't make that type of money by being lucky.

So within that time frame when I was interviewing him, he said something very powerful I will always remember.

“When negotiating – find a common enemy.”

Once he said that I automatically tried to rewind back to the past hour or so to see if he did that from the very beginning of the conversation.

But even if he did…would I know it?

That’s when I knew how powerful he is at negotiating.

Here are 7 tips you need to know about, coming right from the man himself.

Ask About Exceptions

I was once at a book store. I was going to purchase 19 books. I asked the cashier if they give discounts. They said they don't. I then asked: "has there ever been an exception". The cashier thought for a second and then said that the store manager once gave a 20% discount, because it was the biggest order at the time of all times. I then asked, how many books was that. He said 16. I had 19.

I got the 20% discount.

Find Out About Their Standards

Right before boarding a plane, I was told I can't carry my hand luggage with me on the plane, not because it's too big or too heavy, but because there is no more space available. I was told I was randomly selected and I will have to send that luggage with all other big pieces of bags, meaning I couldn't carry it on the plane, but they would do that free of charge.

I asked if I could bring on that piece of luggage with me on the plane, but I was told that the rules are the same for everybody.

I then looked around and I saw a sign promising "satisfactory service guaranteed". I asked the person is satisfactory service really guaranteed. The reply was yes and I was explained that's why it will cost me nothing extra.

Create New Context for Their Standards by Asking Questions

I then said that when I will be in London, I will have to attend an important meeting and I asked them if I am late for that meeting, because my piece of luggage is the last one to arrive, would the service be satisfactory, considering the fact the reason why I only have hand luggage is to make sure I am not late?

The representative looked puzzled for a second and then said: "okay... yeah... it wouldn't then... hold on for a second and I will find somebody else who would be swapped with you and who will not be in a hurry after the plane lands."

If I didn't ask about the standards, I would have been anxious the whole flight thinking about what excuse I will have if I arrive late, but knowing this saved me.

Be Dispassionate

I was once negotiating with a sales person working for me. The employee was furious, because it was thought the compensation plan was unfair. Other person had much higher commission percentages.

I listened for 5 minutes. Very calmly. I didn't say anything.

At the end I asked: "so, the only thing you are mad about is that this is unfair?"

I was told yes.

I then showed that the other person is a contractor and that he pays taxes on his own. In fact, the contractor made less in commissions after taxes percentage wise. It took me a while to put all of the numbers and documents, so there wouldn't be a shadow of a doubt about the validity of the numbers. At the end the employee agreed to accept a lower commission percentage than what was set earlier for this same employee.

The standards of "fair" have been used against this very person, it would have been more beneficial for the employee not to even mention the compensation plan in the first place.

Why Using Logic Is Not Logical

In a world that's filled with people that usually act on emotion and then justify it with logic you will have very little luck if you just use logic. I used to make this mistake every single time, until I discovered that according to Satoshi Kanazawa, the author of The Intelligence Paradox, humans haven't changed even a little bit evolutionary for more than 10,000 years, meaning, we are just as emotional as we used to be.

In a perfectly logical world, convincing others logically would be the best thing to do, but not in the real world, where the emotions, the egos and the pride is often involved.

In this context the most logical thing to do is use emotions and not logic to make a case. Always appeal to people's emotions first and then give them a reason to justify it logically.

6. Trade Things of Unequal Value

One country grows rice and another one potatoes, but none produces both. However, the country that has a lot of oranges and no rice doesn't consider oranges as valuable and vice versa. You can still sell oranges to that country, but at a much lower price than rice. Trade what's called things of unequal value.

Often times when negotiating, people try to give oranges to someone who already has a lot of them. Find something they consider valuable but you don't consider valuable at all. Find the "potatoes".

7. Listen First

Let the party talk. Collect as much information as possible. Ask as many questions as you can.

Look for unequal things to trade. You might be thinking that it is very important for your boss to have you in the office every day 9-5.

But you may find out he doesn't care about that at all, he just cares about the result. So, you might tell him you will work from home and you will increase your results by 20% and if you don't, you will go back to working from office at a lower salary.

You might be twice as productive at home and happier working from home and your boss will be happy as well - he's getting better results. Just assuming it and never listening and without asking questions, you would have never known. Listen first.

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