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Negotiation: how much do you know?

Welcome to this Negotiation Skills Quiz!   

Take the quiz and see how good you are, and also learn a bit more.
 
It's not a pass or fail quiz, you don't get a score, it's like a conversation with a coach ....or me!
 
Each of the 15 questions are followed by the correct answer, so you can see how you did, ....and then onwards to the next question.
 
I hope you enjoy it, and learn from it too!
CC

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Question 1 of 30

Do you feel comfortable and in control when you negotiate?

Do you feel comfortable and in control when you negotiate?

Answer - It’s never going to be 100% easy but if you’re well prepared and you follow the process it’ll be MUCH easier and you’ll get much better results

Question 3 of 30

How should a person set their opening offer?

How should a person set their opening offer?

Answer - Just beyond the best you might hope to get

Question 5 of 30

Is it better to open first and put a stake in the ground, or to try to get the other person to open first?

Is it better to open first and put a stake in the ground, or to try to get the other person to open first?

Answer - Definitely get them to open first, in case it’s good news.  If it’s not good news you can just ignore it, but the chance of getting good news makes this well worth a try.

Question 7 of 30

Should you show any emotion when the other person makes their opening offer?

Should you show any emotion when the other person makes their opening offer?

Answer - Yes, you should flinch and act shocked, whether you are or not.  Otherwise they will think they didn’t go far enough and they won’t move from there.

Question 9 of 30

Is it better to have a fixed walk away point or to stay flexible and get what you can?

Is it better to have a fixed walk away point or to stay flexible and get what you can?

Answer - ALWAYS have a fixed walk away point that you NEVER go beyond, even by a small amount.  This is the source of all of your power.

Question 11 of 30

What should you prepare before a negotiation?

What should you prepare before a negotiation?

Answer - Your walk away point, your opening offer, the tradeables that you can offer and that you’ll look to get, and their potential weaknesses

Question 13 of 30

What can you do if you are feeling weak before or during a negotiation?

What can you do if you are feeling weak before or during a negotiation?

Answer - Focus on THEIR possible/likely weaknesses rather than yours.

Question 15 of 30

What is the Vice?

What is the Vice?

Answer - It’s a tactic where the buyer says “You’ll have to do better than that…” and if you give them a bit they keep asking for more – turning the screw.

Question 17 of 30

What is the Salami?

What is the Salami?

Answer - It’s a tactic where one person asks for lots of small things, which all start to add up  Also called “What’s mine is mine and yours is still negotiable” – see course for what to do about it

Question 19 of 30

What is the Nibble?

What is the Nibble?

Answer - A tactic where someone asks for a small extra AFTER the deal has been done – and this small item can significantly affect the overall viability of the deal

Question 21 of 30

What is the correct answer to “Split the difference?”

What is the correct answer to “Split the difference?”

Answer - The answer is “no, I can’t go any further” and they will answer “OK then”

Question 23 of 30

Is it OK to ask “Is that your final offer?”

Is it OK to ask “Is that your final offer?”

Answer - No!  This will force them to say “Yes” and then you have dug them into a hole from where they can’t move.

Question 25 of 30

What should you say if asked “Is that your final offer?”

What should you say if asked “Is that your final offer?”

Answer - The best answer is “Yes, with the deal as it is” and then explore for a better combination of tradeables.

Question 27 of 30

What’s the best answer to “Could you reduce that price a little bit?”.

What’s the best answer to “Could you reduce that price a little bit?”.

Answer - Say No, and wait to see what they say  If they say “OK then, just thought I’d ask” then it was lucky you held firm.  If they say “In that case the whole deal is off you can reel them back in with “Well, let’s see, there must be a way to get this resolved - how about if…” and offer a different combination of tradeables

Question 29 of 30

What’s wrong with an opening offer of £20,000 (regardless of what it is, and regardless of whether you are buying or selling something).

What’s wrong with an opening offer of £20,000 (regardless of what it is, and regardless of whether you are buying or selling something).

Answer - It’s a round number, and invites attack because it’s clearly made up.  Always open with a non-round number.

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