How to negotiate using the law of scarcity?

Scarcity (less supply, more desirable) doesn’t work well in workplace negotiations unless it’s true, or you risk losing credibility in future interactions. Try reverse engineering the law of scarcity 3 ways:

1. Admit your idea/offer is not for everyone. Describe who they are for, e.g. innovative, inclusive, independent thinkers. That usually gets people talking; and you can use the feedback to tailor inducements to seal the deal.
2. Share enthusiastically about the people who love your idea/offer! Abundance not scarcity is the father of FOMO!
3. Walk away. In 2006, I saw a vendor in a bargaining stall walk away when negotiation stalled with a customer. He wasn’t rude; he confidently moved on to another customer with his sale – guess who was now willing to pay full price?! The law of scarcity works wonder this way anywhere.

SEE ALSO:

How to negotiate and persuade timely delivery of project milestones?

How to persuade clients to accept your idea?

View more project management tips like this one

View more tips on personal and career development like this one

Own 100 Skills 100 Days