Question: What Is The First Key To Opening The Door To Huge Bargains?

When investing with a mutual fund your return comes when the value of the fund increases True False?

When investing with a mutual fund, your return comes when the value of the fun increases.

It is impossible to find a 12% rate of return on your investment.

you want to invest in mutual funds that have a positive track record for at least the last 5-10 years..

How do you negotiate a deal?

Share information. We often approach negotiation being very guarded and wary of showing our cards. … Rank order your priorities. … Go in knowing your target price and your walkaway terms. … Make the first offer. … Don’t counter too low. … Counter offers make both parties more satisfied.

Why is silence powerful when negotiating a deal?

With most people, whenever there’s a silence, someone will speak up to fill the gap. That desire to fill a void in conversation doesn’t go away during a negotiation. This makes silence a very powerful tool in certain situations. After all, in a negotiation, you want to gather as much information as possible.

Which of the following is true about the ʺIF Iʺ take away technique?

Which of the following is true about the ʺIf Iʺ take-away technique? This technique involves negotiating the lowest price possible, then throwing something else into the deal. Which of the following is not recommended when selling something you own? Find an uninformed buyer and charge the highest price possible.

What is the If I take away technique?

Use the “If I” take-away technique. You use this one near the end of the deal, after you’ve pretty much figured out the lowest price possible. The point is to agree to a price, but then throw something else into the deal.

What does the KISS principle stand for?

keep it simple, stupidKISS, an acronym for keep it simple, stupid, is a design principle noted by the U.S. Navy in 1960. The KISS principle states that most systems work best if they are kept simple rather than made complicated; therefore, simplicity should be a key goal in design, and unnecessary complexity should be avoided.

What are the five steps you should take before making a significant purchase?

Test Review – Chapter 6 – Consumer AwarenessABWhat are the five steps you should take before making a significant purchase?1. Wait overnight, 2. Consider your buying motives, 3. Make sure you understand what you are buying, 4. Consider the opportunity cost, and 5. seek wise counsel45 more rows

Why is cash a great bargaining tool?

A great deal often just happens by accident. Using cash gives you more bargaining power than using credit. Being married (or emotionally attached) to a purchase will cause you to lose bargaining power. … Shopping for bargains is part of a healthy financial plan because it makes your hard -earned money go further.

Why is it important to be honest when negotiating?

Stark and Jane Flaherty write: “The more confidence your counterpart has in your honesty, integrity and reliability, the easier you will find it to negotiate.” When you develop trust, you can more easily accomplish what they say is the ideal outcome in almost any scenario: win-win.

How do you negotiate a liar?

7 Ways to Negotiate With a Liar. Scientific research has shown that humans can’t help lying, but you can use these strategies to stop a liar from ruining your business deal. … Tell the truth. … Address their weaknesses. … Keep asking questions. … Don’t be desperate. … Pause and listen. … Offer options. … Have a contingency clause.

Is it unethical to lie during negotiations?

There are many reasons not to lie during a negotiation: lying is unethical, it may be illegal, and it’s often poor strategy. … On one hand, lying creates an ethical dilemma—a choice between doing what is right and doing what might benefit you most.

What are the three keys for getting bargains?

Terms in this set (14)What are the 3 keys to getting bargains? Learn to negotiate everything. … What are the 7 basic rules of negotiating? Always tell the truth. … What are places to find a great deal? … Integrity. … Markup. … Negotiating. … Patience. … Walkaway power.More items…

How do you haggle?

Top tips for haggling like a proPick the right moment. … Head straight to the top. … Mind your manners. … Know the competition. … Know what you’re comparing. … Think outside the box. … Bundle products. … Don’t settle for the first deal.More items…•

Can lawyers lie during negotiations?

The American Bar Association has an ethics rule governing lies during negotiations. The ABA, of course does not directly regulate lawyers. … It surprises many people—including some lawyers—that the ABA Model Rule prohibits (or, more precisely, limits) lawyers in lying to the opposing party in the course of negotiations.

Why is bargain shopping an important part of a healthy financial plan?

Shopping for bargains is part of a healthy financial plan because it makes your hard-earned money go further. Most of the items at the pawn shop are stolen. Being emotionally attached to a purchase will cause you to lose this. … The exchange of goods or services without the use of money.

What are the seven rules of negotiating?

Seven basic rules of negotiating are: always tell the absolute truth, use the power of cash, understand and use “walk away power”, shut up, “that’s not good enough!’ , good guy, bad guy and the “if i” take away technique.