Improve Your Negotiations With The 5 Golden Rules.   LEARN THEM

In a recent Financial Times article about “speeding up the process of wringing money out of late payers,” one business owner offered that “the best method is to have a good relationship with a client’s accounts department.” He suggested finding out “who signs the checques” and sending “them a bottle of wine at Christmas.”

This approach may succeed because of the reciprocity rule – the research supported conclusion that most of us will try to repay – in kind – what others provide to us. Even the receipt of a small gift or favor, like a bottle of wine, will cause most of us to feel a sense of obligation to return the favor – in this case expediting the payment of an overdue bill. Of course, care should be taken to keep your small gifts or favors legal, ethical and culturally appropriate.

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