Even though President Donald Trump’s negotiating strategy can be divisive, he’s been at the negotiating game for a long time, even before he published his well-known book “The Art of the Deal” in 1987.
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According to Patrice Williams-Lindo, a career strategist and CEO of Career Nomad, there are lessons of his learned that regular consumers can apply to reduce their expenses.
Here’s what she recommended:
Set Your Anchor High
As both a civilian and as President, Trump always makes a bold request first, Williams-Lindo pointed out. Consider doing the same.
“Customers can request $120 instead of $180 if their cable bill is $200. Since businesses will probably ‘meet you in the middle,’ it creates the conditions for compromise in your favor,” she said.
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Have Confidence in the Project
“Trump never scuttles into a transaction,” Williams-Lindo said. You can adopt a similarly steady approach. “Avoid using an apologetic tone when negotiating bills,” she said. Tell the company you’re negotiating with how long you’ve been a devoted customer and that to stay, you need a better rate. “Being confident lets people know you’re serious.”
Have the Courage To Walk
Trump’s not afraid to walk away from a deal he can’t clinch. Williams-Lindo suggested that a little bit of the threat of loss can work in your favor. “You can walk [away] with cable, insurance, or phone providers –they have rivals.” She recommended a simple script: “I’d like to keep my service here, but if we can’t find a better rate, I’ll cancel.”
It Pays To Persevere
Trump emphasizes not accepting the first no in “The Art of the Deal.” Thus, Williams-Lindo said, it is reasonable to escalate bills two or three times, “once with a representative, once with retention and once with a supervisor.” Beyond that, the savings might not be worth your time.
Use Strategic Bundling
Trump repackages agreements to increase their size, she said. Customers can also combine phone, internet and streaming services, as well as some insurance plans, to receive even greater savings. Businesses will frequently pay for “stickier” clients.
Take Advantage of Competition
Trump leverages offers from rival companies, Williams-Lindo noted. “Customers ought to do the same: present evidence of a cheaper price from another supplier and request that your business match it.” Frame your negotiation as “keep my business, or I’ll move it.”
Present a Win-Win Scenario
Even Trump is aware that agreements are most successful when both parties gain, she said. Say something like, “If you can lower my bill, I’ll stay for another year,” rather than portraying it as a loss for the business. “They benefit from retention, and you benefit from savings,” she said.
Recognize Your Boundaries
Trump’s aggressiveness is part of his brand, Williams-Lindo said, but if customers push too hard, it can ruin negotiations. “The rule is to never shout or insult. Remain professional, firm and prepared to change course.”
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This article originally appeared on GOBankingRates.com: How To Negotiate Your Bills Like Trump Negotiates a Deal
