You can do this directly by saying, in an encouraging
tone of voice, “Let’s put price off to the side for a moment
and talk about what would make this a good deal.” Or you
could go at it more obliquely by asking, “What else would
you be able to offer to make that a good price for me?”
And if the other side pushes you to go first, wriggle from
his grip. Instead of naming a price, allude to an incredibly
high number that someone else might charge. Once when a
hospital chain wanted me to name a price first, I said, “Well,
if you go to Harvard Business School, they’re going to
charge you $2,500 a day per student.”
No matter what happens, the point here is to sponge up
information from your counterpart. Letting your counterpart
anchor first will give you a tremendous feel for him. All you
need to learn is how to take the first punch.
One of my Georgetown MBA students, a guy named
Farouq, showed how not to fold after being punched when
he went to hit up the MBA dean for funds to hold a big
alumni event in Dubai. It was a desperate situation, because
he needed $600 and she was his last stop.
At the meeting, Farouq told the dean about how excited
the students were about the trip and how beneficial it would
be for the Georgetown MBA brand in the region.
Before he could even finish, the dean jumped in.
“Sounds like a great trip you guys are planning,” she
said. “But money is tight and I could authorize no more than
$300.”
Farouq hadn’t expected the dean to go so quickly. But