Negotiation and LIM’s Rule

LIM is a Chinese businessman I got into a conversation with when we were stranded at an airport in Hong Kong due to a heavy snowfall. We got talking about sales and marketing, and LIM was especially interested in talking about negotiating and his strategies. His overriding one was what he calls, and I call LIMs Rule.

LIMs rule says there are three prices you must have fixed in your mind BEFORE going into negotiations.

The first starts with the letter L. It’s the price he’d LOVE to get and always starts out with.

The second starts with the letter I. The price he INTENDS to get and will really fight for.

The third starts with the letter M. It’s the price he MUST get, or he walks away.

Maybe LIMs rule will work for you too. It works for me just great!

Cookies help us deliver our services. By using our services, you agree to our use of cookies. More Info | Close