Episode
#166: How Creatives Should Negotiate
1:40:40
Published: Wed Jun 15 2016
Description
This episode is actually a workshop on negotiating. Out of all the resources out there on how to negotiate, 99 percent of them are piss-poor -- but I guarantee you this isn't one of them. The teacher is Ramit Sethi. These lessons are all taken from a multi-day course Ramit taught on CreativeLive.com, which is one of the fastest growing startups. [Full disclosure: I am an advisor.] If you are an entrepreneur, perhaps just getting into entrepreneurship, thinking of taking the dive into entrepreneurship, or you just want to get out of a trap of your own making, I think you'll find a lot here. Pay a lot of attention to the exact scripting that Ramit uses. And if a particular section isn't clicking with you, just skip ahead 20 minutes or so and you'll find yourself in a new lesson. In this episode, you will learn about: Positioning Smart negotiation vs. dumb negotiation Overcoming mental barriers related to entrepreneurship What you should charge or how you should think about charging for your services Mock interviews And much, much more Enjoy! This podcast is brought to you by TrunkClub. I hate shopping with a passion. And honestly I'm not good at it, which means I end up looking like I'm colorblind or homeless. Enter TrunkClub, which provides you with your own personal stylist and makes it easier than ever to shop for clothes that look great on your body. Visit trunkclub.com/tim, answer a few questions, and then you'll be sent a trunk full of awesome clothes. They base this on your sizes, preferences, etc. The trunk is then delivered free of charge both ways, so you only pay for clothes that you keep. If you keep none, it costs you nothing. To get started, check it out at trunkclub.com/tim. This podcast is brought to you by Audible. I have used Audible for years and I love audio books. I have two to recommend: The Graveyard Book by Neil Gaiman Vagabonding by Rolf Potts All you need to do to get your free 30-day Audible trial is go to Audible.com/Tim. Choose one of the above books, or choose between more than 180,000 audio programs. That could be a book, a newspaper, a magazine, or even a class. It's that easy. Go to Audible.com/Tim and get started today. Enjoy. Show notes and links for this episode can be found at www.fourhourworkweek.com/podcast.***If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!For show notes and past guests, please visit tim.blog/podcast.Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Interested in sponsoring the podcast? Visit tim.blog/sponsor and fill out the form.Discover Tim’s books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissFacebook: facebook.com/timferriss YouTube: youtube.com/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Chapters
Tim Ferris, Joe De Sena, and Tim's dad discuss the "opposite game," how to make tough decisions, and the power of asking questions.
00:00 - 00:50 (00:50)
Summary
Tim Ferris, Joe De Sena, and Tim's dad discuss the "opposite game," how to make tough decisions, and the power of asking questions. Sponsored by Tim Ferris's Five Bullet Friday email newsletter.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
Tim Ferriss shares insights on entrepreneurship and language crafting.
00:50 - 07:32 (06:42)
Summary
Tim Ferriss shares insights on entrepreneurship and language crafting. He also mentions a special offer from Athletic Greens.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The speaker emphasizes the importance of negotiating in daily life by sharing examples of negotiating phone bills and car prices.
07:32 - 12:40 (05:08)
Summary
The speaker emphasizes the importance of negotiating in daily life by sharing examples of negotiating phone bills and car prices.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
Learn how to negotiate with companies and avoid switching providers over a simple money issue.
12:40 - 15:07 (02:27)
Summary
Learn how to negotiate with companies and avoid switching providers over a simple money issue. Get an actual script for successful negotiations in tough times.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
Learn how to negotiate a better deal on your cable bill by researching competitor prices and using them as leverage to negotiate with your current provider.
15:07 - 17:32 (02:25)
Summary
Learn how to negotiate a better deal on your cable bill by researching competitor prices and using them as leverage to negotiate with your current provider.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The power of starting a conversation with rapport helps people feel more comfortable and open to engaging in conversation.
17:32 - 19:46 (02:13)
Summary
The power of starting a conversation with rapport helps people feel more comfortable and open to engaging in conversation. By building a positive relationship, individuals are more likely to trust one another and feel comfortable sharing their thoughts and ideas.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The decision to negotiate depends on the situation and the amount of money being spent.
19:46 - 23:40 (03:54)
Summary
The decision to negotiate depends on the situation and the amount of money being spent. Negotiating small purchases like a hot dog is not worth the effort, but there is ample room for negotiation when buying a high-ticket item like a car.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
Learn how to effectively negotiate with clients and handle situations where they try to negotiate your professional fees.
23:40 - 27:36 (03:55)
Summary
Learn how to effectively negotiate with clients and handle situations where they try to negotiate your professional fees. The episode includes hot seat exercises to practice negotiation skills.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The gender pay gap is a very real issue that requires women to navigate complex negotiations in order to be paid fairly.
27:36 - 31:14 (03:38)
Summary
The gender pay gap is a very real issue that requires women to navigate complex negotiations in order to be paid fairly. While women are sometimes perceived as being less capable in such negotiations, simple strategies can help them to gain confidence.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The speaker shares a personal experience of sending a straightforward email that led to a successful business partnership.
31:14 - 34:52 (03:38)
Summary
The speaker shares a personal experience of sending a straightforward email that led to a successful business partnership. He emphasizes the importance of being authentic and avoiding flowery language in business communication.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
Ramit Sethi provides a script to negotiate car insurance and shares his successful negotiation techniques, which can be applied to various scenarios.
34:52 - 38:32 (03:40)
Summary
Ramit Sethi provides a script to negotiate car insurance and shares his successful negotiation techniques, which can be applied to various scenarios.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The speakers highlight the importance of reframing negative self-talk in business and using it as an opportunity to learn and grow.
38:32 - 40:39 (02:07)
Summary
The speakers highlight the importance of reframing negative self-talk in business and using it as an opportunity to learn and grow.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
Communication is key when it comes to providing services to clients.
40:39 - 43:34 (02:55)
Summary
Communication is key when it comes to providing services to clients. Understanding and addressing their concerns can help build a strong relationship and ensure a successful outcome.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
People often prioritize monetization over their skills and passions, leading them to neglect their true talents.
43:34 - 47:33 (03:59)
Summary
People often prioritize monetization over their skills and passions, leading them to neglect their true talents. The pressure to focus on monetization can distract from achieving success in one's area of expertise.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
Ramit Sethi discusses the psychology behind people's aversion to selling and their misconceptions about automation.
47:33 - 50:28 (02:55)
Summary
Ramit Sethi discusses the psychology behind people's aversion to selling and their misconceptions about automation.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
This episode features a discussion on the challenges of charging higher rates for consulting services and the need to develop different skills for different types of clients as you progress in your career.
50:28 - 53:24 (02:56)
Summary
This episode features a discussion on the challenges of charging higher rates for consulting services and the need to develop different skills for different types of clients as you progress in your career.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
An experienced consultant explains how serving higher-level clients can come with different needs and expectations, sometimes requiring greater adaptability and willingness to go above and beyond for those clients.
53:24 - 55:35 (02:11)
Summary
An experienced consultant explains how serving higher-level clients can come with different needs and expectations, sometimes requiring greater adaptability and willingness to go above and beyond for those clients.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
A photographer offers to go to a busy executive's office and provide a photo session.
55:35 - 58:56 (03:21)
Summary
A photographer offers to go to a busy executive's office and provide a photo session. However, the photographer refuses to do so until she is confident that she can deliver a product that is worth the price being paid and even offers a free photo refresh six months later.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The key is pricing your work in a way that will attract clients, but not scare them away.
58:56 - 1:02:03 (03:07)
Summary
The key is pricing your work in a way that will attract clients, but not scare them away. The goal is to build your reputation and eventually charge higher rates for valuable work.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
Working for free may seem counterintuitive, but it can be an effective strategy for gaining exposure and connections with influential individuals.
1:02:03 - 1:07:02 (04:59)
Summary
Working for free may seem counterintuitive, but it can be an effective strategy for gaining exposure and connections with influential individuals.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
Micah asks if it's wise to ask potential clients to speak to referrals first or cold call them, while the speaker emphasizes the importance of truly understanding your market as an entrepreneur.
1:07:02 - 1:12:47 (05:45)
Summary
Micah asks if it's wise to ask potential clients to speak to referrals first or cold call them, while the speaker emphasizes the importance of truly understanding your market as an entrepreneur.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
This episode discusses the pros and cons of pricing hourly consulting in packages and allowing clients to cancel at any time versus traditional hourly pricing.
1:12:47 - 1:15:51 (03:04)
Summary
This episode discusses the pros and cons of pricing hourly consulting in packages and allowing clients to cancel at any time versus traditional hourly pricing. It also highlights the importance of finding the sweet spot in hourly pricing.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The speaker discusses the impact of narrative in the perceived value of commodity products, using examples of products sold at a higher price due to their story.
1:15:51 - 1:20:23 (04:32)
Summary
The speaker discusses the impact of narrative in the perceived value of commodity products, using examples of products sold at a higher price due to their story. He also shares his personal struggle with smiling and how it affects him neurologically.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The speaker discusses how individuals should balance their confidence level during a job interview based on their own personalities and behaviors.
1:20:23 - 1:22:59 (02:36)
Summary
The speaker discusses how individuals should balance their confidence level during a job interview based on their own personalities and behaviors. Some may need to tone down their confidence while others may need to increase it.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The best performers are knowledgeable enough to acknowledge their weaknesses and are candid about them.
1:22:59 - 1:25:40 (02:41)
Summary
The best performers are knowledgeable enough to acknowledge their weaknesses and are candid about them.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The speaker shares experiences and tips on how to improve negative interactions, such as being curt or terse with coworkers, in the workplace, including attending institutes and communicating clearly.
1:25:40 - 1:27:55 (02:15)
Summary
The speaker shares experiences and tips on how to improve negative interactions, such as being curt or terse with coworkers, in the workplace, including attending institutes and communicating clearly.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The speaker discusses the commonly asked interview question about one's greatest weakness and offers a way to turn it into a positive answer.
1:27:55 - 1:30:27 (02:32)
Summary
The speaker discusses the commonly asked interview question about one's greatest weakness and offers a way to turn it into a positive answer.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The speaker argues that taking into account their track record, desire to grow, willingness to learn, and potential contributions, they would be the best candidate for a certain opportunity.
1:30:27 - 1:33:52 (03:25)
Summary
The speaker argues that taking into account their track record, desire to grow, willingness to learn, and potential contributions, they would be the best candidate for a certain opportunity.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The key to acing your job interview is to prepare thoroughly by thinking about your skills, strengths, and relevant experiences, and how they relate to the company you're interviewing for.
1:33:52 - 1:36:48 (02:56)
Summary
The key to acing your job interview is to prepare thoroughly by thinking about your skills, strengths, and relevant experiences, and how they relate to the company you're interviewing for.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
The fear of saying one's own name aloud can be a real social hurdle that affects opportunities.
1:36:48 - 1:39:19 (02:31)
Summary
The fear of saying one's own name aloud can be a real social hurdle that affects opportunities. With media training, however, this bizarre fear can be managed and overcome.
Episode#166: How Creatives Should Negotiate
PodcastThe Tim Ferriss Show
Tim Ferriss discusses how he improved his podcast hosting skills through practice and being able to anticipate the needs of his audience.
1:39:19 - 1:40:38 (01:19)
Summary
Tim Ferriss discusses how he improved his podcast hosting skills through practice and being able to anticipate the needs of his audience. He also promoted his weekly email newsletter called Five Bullet Friday.