5 tips to win any negotiation

1. Focus on the first 5 minutes

In a study published in the Journal of Applied Sciences, the first 5 minutes of a negotiation can predict the negotiated outcome. During this time, the other party is trying to figure out if you actually mean what you say or if you're merely trying to get more than what you know you're worth. Start out likable so that the other person doesn't shut down on you.

2. Start higher than what you'd feel satisfied with

Researchers say you should always start high in negotiations. These starting prices will eventually “form an anchor”, which will come to affect every other number that follows it. Even if you know the number is ridiculously more than what you would be satisfied with, you are the only person who knows this.

3. You should start your arguments first

According to this study published by Harvard Business School, you should always consider going first during a negotiation. What are the benefits of making the first offer? You are able to set the anchor number (see above at point 2). The study says that by “making the first offer, you will anchor the negotiation in your favor”. It can also show the other party that you are a confident individual.

4. Drink coffee

The more caffeine you consume, the less likely you'll budge in an argument, according to a study published in the European Journal of Social Psychology. This will probably lead to “greater agreement” during the interaction.

5. Convince the other party that time is running out

In an article published in Science Daily, researchers say that “sold-out products create a sense of immediacy for customers; they feel that if one product is gone, the next item could also sell out”. People think that if a product is sold out, it must mean that it's good. If they don't make the move now, someone else will.