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0:00So, number three. I learned this from a different mentor. They call it MISO's, but basically multiple equivalent simultaneous offers. So, what does that mean? That means that I present offer A, offer B, and offer C. Or just offer A and B, it doesn't really matter. You can have two offers, you can have three offers. And each of these have different prices and terms associated with them. And so, what happens is when you make multiple equivalent offers, it's like embedding reciprocity. It's like, "Hey, I'm trying to be reasonable. I just want to figure out what works best for you." Cuz all three of these work for me, but which one's better? This is a way of actually teasing out what someone else's priorities are if they're not willing to tell you. Cuz a lot of times you want to hold your card close and not say, "What are the things that are most valuable to you?" Now, over time you build some trust, you build some rapport, and you will be able to share because ideally something that's important to you is not important to them. And they give you this one and something that's important to them that's not important to you, you give to them. And that's fundamentally a good negotiation. One of the big things that I misunderstood in the beginning is that I assumed negotiation was a zero-sum game. And it's never an a zero-sum game. Because you're a different person, you have different needs. You're always going to have some things that will be more important to you than other people. And in that situation, it's like you want to just interlock the things that matter most to each person. That's where it becomes a positive-sum game. Both parties are better off from basically giving and taking in places that are less meaningful to them and more meaningful to the other person. Journal of Personality and Social Psychology showed that presenting multiple equivalent offers simultaneously increases the likelihood of finding mutually beneficial solutions. This approach demonstrates flexibility while also maintaining your core interest because you're the one who's presenting all the offers. It's almost like a reverse assumed close. Hey, I'll do any of these three things. And you just pick the one that works for you. And then the thing is they're picking all any of these I said already worked for me. Let me give you like a real-world example. So, let's say option A is lower monthly fee with a longer commitment. Option B has a higher monthly fee but has premium support. And then option C is kind of like a pay-as-you-go with slightly higher rates but maximum flexibility. Right? So, all three options are giving you similar overall value, but you might look at them and be like, "I just want to know which one meets your needs better. From their answers, you'll be able to understand their motivations. Now, let me tell you some knowledge from the street. If someone gives you multiple offers, if you're on the other side of the table, what I like to do is say, I like the best part of this one, and I like the best part of this one, and I like the best part of this one, and why don't we make an offer that is the best of all three.

2:20And I learned this from my friend Sharran. Guy's done more deals than anyone I know. I was like, "Ooh, that's good." So, the flip side is you can ask someone, "Hey, can you give me two or three versions of what the deal might look like?" And then they come up with their versions of the deals, and then you say, "Great. I like this piece. How do we do option D?" And what's nice about this is it also shows some active listening for you. You countering with something like this, or even taking two of the three components, two of those components might be meaningful for you and not for them. Again, cuz they put them in the different deals. You might find out that you can get more of the things that you want just by asking.

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