The Psychological Power That Wins Every Negotiation Before You Sit Down | Ep 981

Alex Hormozi· Host0:00

Over my career acquiring and scaling businesses for acquisitions.com, I've done a lot of deals. I want to put the five most brutally effective tactics that I know in one video for you. A lot of these things I didn't actually learn from books. I learned them from mentors and actually seeing them do it and learning it like in the streets, in the real world. Most itty-bitty tactics like don't actually drive the needle, but these five actually have gotten deals done and improved my situation or standing in the deal. So let's dive in. There's three contexts that you're gonna use each of these skills with. The first is with employees, and this goes both ways. If you're an employee trying to negotiate with an employer, then that applies. The second is gonna be vendors. Now, this also applies if you're a vendor who's dealing with customers. And then third, you've got what I would consider partners. This is when you do deals, M&A, things like that, investment. So these are kind of the three big vectors that all of this stuff applies to. So if you're like, "I'm not sure if this will work for me," you for sure, even if you don't have a business, you are an employee. And if you are an employee and you don't want to use that, you certainly have vendors that come to your house and do things for you like this is the fruit of life. You have to negotiate, and you get what you negotiate, not what you deserve. That may sound not fair, but it's also the truth. Number one, this is actually from a Harvard Business School thing that I learned from Sharon Servata. It's called BATNA. Now, I didn't know the fancy term for it, but it means best alternative to a negotiated agreement. So what does this really mean? Research has shown that having strong BATNA, basically a strong alternative, gives you