The first number casts a long shadow.
Direct answer
Anchoring is the tendency to be influenced by the first number mentioned. In negotiation, a well-researched first offer can pull the final result in your favour. If the other side anchors first, resist by recalling your own research and proposing your own figure with reasons.
Using it
- Research a fair range.
- Open at the ambitious end, with a reason.
- Stay credible. Extreme numbers can backfire.
Responding to an anchor
- "That is higher than I expected. Based on X, I was thinking Y."
- Ask how they arrived at the number.
Where Teyro fits
Teyro's Negotiation Skills for Beginners course turns this into short lessons you can play in a few minutes a day. It has 50 lessons, and you can start free.
The bottom line
Do your homework so the first number is yours.
