Get Referrals For A Discount

Summary

• If someone wants a discount, offer a deal: reduce the price if they introduce you to three friends. This way, you get more customers even if you earn less from one sale.

• When dealing with other business owners who try to negotiate prices, don't change your rates due to ethics. Instead, offer a price reduction if they refer others to you.

• Start by asking for three referrals in exchange for a $100 discount. If they refuse, negotiate down to two. This adds more value to negotiations and can help secure more sales.

• Use these strategies to change the terms of a deal, allowing for more flexibility while growing your customer base.

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How To Take Action

I would suggest implementing a strategy that turns price negotiations into opportunities for growth. When someone wants a discount, offer them a deal: they get the discount if they introduce you to three friends. This way, even if you earn a bit less upfront, you gain more customers in the long run.

A good way of handling negotiations, especially with other business owners, is to stick to your ethical pricing while offering a referral-based discount. If they want a price cut, ask them to refer three other potential customers. This creates flexibility, boosts your sales, and grows your customer network.

Start with asking for three referrals in exchange for a $100 discount on your service or product. If the customer isn’t comfortable with that, you can negotiate down to two referrals. This approach not only secures the sale but also increases your customer base through personal recommendations.

Using these strategies effectively changes the terms of the deal, making the negotiation process worked in your favor while maintaining your pricing integrity. By focusing on referrals, you're leveraging low-cost methods to achieve high-value outcomes, which is crucial for small businesses and entrepreneurs aiming for growth. Keep this in your toolkit for any price negotiations you might encounter.