What do you teach your children about the art of negotiation?

Question

From making minor purchases to major purchases.

From selling your car, to hiring a contractor.

From getting hired for a job, to hiring an employee.

The art of negotiation is all important to success.

I am raising three children.

I would like to know what the masters of negotiation teach their children.

Please include where your experience comes from.

Thanks in advance for sharing your knowledge and experience.

Answer 1

My father and his father before him who ran businesses their whole lives gave each sibling a set of 10 things all of us really wanted. Told us to set-up "stores" and barter/ trade them but to do our best to get everything we want without a fight. We did this many times growing up, then he had us run yard sales as teens and gave us all 100$ to buy and sell things as older teens.  The first sibling to turn the 100$ into 1000$ got a car. Two of us own businesses now. I own 3 and 2 are highly successful.

Answer 2

1) Always ask for more than you want and then settle for less - less being exactly equal to what you wanted in the first place.

2) Always be more prepared than the other guy.

3) No deal is too important to walk away from if you can't get what you want.

I hope this helps - good luck!