The 4-Hour Workweek, Expanded and Updated: Expanded and Updated, With Over 100 New Pages of Cutting-Edge Content.

by Timothy Ferriss

Rejecting First Offers and Walking Away (3 Days) Before performing this exercise, if possible, read the bonus chapter “How to Get $700,000 of Advertising for $10,000” on our companion site, and then set aside two hours on a consecutive Saturday, Sunday, and Monday. On Saturday and Sunday, go to a farmers’ market or other outdoor event where goods are sold. If this isn’t possible, go to small independent retailers (not chains or mass retail). Set a budget of $100 for your negotiating tuition and look for items to purchase that total at least $150. Your job is to get the sellers down to a total of $100 or less for the lot. It is better to practice on many cheap items rather than a few big items. Be sure to reply to their first offer with, “What type of discount can you offer?” to let them negotiate against themselves. Negotiate near closing time, choose your objective price, bracket, and make a firm offer with cash in hand for that amount.48 Practice walking away if your objective price isn’t met. On Monday, call two magazines (expect the first to be awkward) and use the script on the companion site to negotiate, minus the last firm offer. Get them as low as possible and then call them back later to indicate that your proposal was refused by upper management or otherwise vetoed.