Welcome back. What we're going to look at in this video is obviously the preparation part. And once again, and we're going to look at it, as I mentioned previously, because it's so crucial and so important for you to achieve success in your negotiation. What we're going to talk about right now is what are we going to do? How are we going to focus on the time we have prior to negotiation, and there's a few important things I want to share with you right now. And one of one of them is, even before we meet the counterpart, even before we see them shake their hands for the first time, we need to understand who they are, we need to understand where they're coming from, we need to understand that culture.

And we need to understand obviously, that title as well. One piece of advice I want to share with you, though, is that the title in my world is not so important. And the reason for that is that I've met so many vice presidents and even president that haven't even had the mandate to buy a stamp on behalf of their Corporation. So the title itself doesn't necessarily give so much away. But adding something to that is you basically only want to negotiate with somebody who got the message. to sign off on the deal, and why is that?

Well, if you're negotiating with somebody that has to go back to their own company and get approval, you might get several negotiation. This is also what we call the salami technique. That means that they might come back and say, You know what, I could get approval on eight out of 10 items, but the last two were not approved. So we have to renegotiate those. So one of the things that I encourage you to do opening negotiation is actually asking the counterpart, are you authorized to sign off on this deal when we conclude later today, and obviously, you should be in a position where you are authorized yourself as well. One other problem with many, many of us as human beings is that we are very self centered.

We think that we have monopoly and understanding how the world really works. So we sitting in this bubble, and we believe that everybody is basically circling around ourselves. So if somebody else views the world in a different way that we do, we have a tendency to think that it's so sad that Martin don't really understand how the world really looks like because obviously His opinion of view of the world is different than mine. If you remember back to my Chinese approach, Chinese story about the approach into into negotiation, once again, and I'm just repeating it because it's so important, they are thinking very much about the counterpart. So we need to understand the counterpart as well. And one thing we need to understand is different cultures.

And very often, when I open it open the topics on culture, people start thinking, well, that means if I'm leaving the US and going to Malaysia, that's a different culture. If I'm leaving the US and going to Colombia, that's a different culture. Well, that's true. But that's not the only thing that I'm talking about when I'm talking about culture. Culture is also leaving one states in the US and going to another state is actually leaving one city in the US going to another city. And it's basically just leaving one company and gone to another company.

Think about where you're from originally, think about how many cultures you may have to locally right now. Think about the company that you're involved in right now. How many cultures that even might be intact. company. So one company may have hundreds of different cultures that could collide. So you have to think about that the same way, when you're stepping into real life negotiation, you may meet a counterpart, a person from a different organization whose culture not only because they're from a different place in the world, but just because of the culture in the company might be very, very different.

When we are talking about opening negotiation, this small talk is very crucial or talking about the weather, whatever you would call it, and we have a tendency, sometimes not to be too good at that, because time is important. We need to be done, we need to catch the flight, we need to get back home. But what we can actually utilize in that talking about the weather, the small talk part is actually one creating a relationship and that is generating a higher level of trust. And sometimes even we get more information about the content and the negotiation than we would otherwise get because the second bill actually sounds meaning the negotiation is starting Everybody's holding a cup a little bit tighter. So what can be a benefit, it's actually setting off time separately. So when you go to negotiate on how to negotiate, but also just for the purpose of creating that relationship, getting to know the counterpart, seeing pictures of the kids showing pictures of your kids, telling about where you're from telling about where they're from.

So it's actually human beings sitting there across from each other, and not so much just cooperation that is meeting each other as well. I had a mentor for many, many years. And unfortunately, he's not among us anymore. But he said a lot of clever stuff to me, and I was not always paying attention. But one of the things he told me so many times was kelty said you have two ears and one mouth. And I just kept talking and then he repeated it and said, Can you have two ears and one mouth and I just kept talking again?

And he repeated it many, many times. And one day, I suddenly realized that now for the first time I understood what he was actually saying, in a negotiation. You have to listen more that you're talking, you know, negotiations It's not like a television show where we have some judges sitting up there and then giving points to people participating. It's not like that nobody is actually sitting up there judging you. So it's not about looking smart. It's not about looking clever.

It's not actually about being the most frequent talker in this negotiation, it's actually about picking up the information. The winner in a negotiation is the person who leaves the negotiation table with the highest the biggest amount of data, the more information you have, the more you're actually going to be successful. So when I'm talking about listening is not the same as being quiet. Listening in my, in my world means that we're very, we're very, very active with questions, but questions are open questions. So that means why is that you want that? What is the purpose?

What will be the benefit? Would that give you any and so on and so forth. So think about that when you are listening. Another thing I want to share with you a is doing obviously, during a negotiation, that's a lot of interaction, a lot of numbers, a lot of data, a lot of information going back and forth. So summarization is really crucial. And I have a trick question for you right now, who should summarize?

Should you summarize? Or should it be the counterpart who summarizing, I would definitely advise you to ask the counterpart to summarize. I know that answer might surprise some of you. And the reason I'm saying that is, when you during negotiation, asking for verbal summarization, asking the counterpart to do that, you are sometimes getting additional information that you wouldn't have got otherwise. And what is even more important is that communication is a difficult thing. So what you thought you were sending off may not necessarily be the same thing that the counterpart might be receiving.

So they might get a different understanding of what you're saying that what were the intention from you. So by asking them to summarize, you're actually going to get a feedback whether they understand the situation the exact same way as you do. So please think about summarization as the counterpart to do with that urge to do that. That's the verbal part the written summarization. Please do that. yourself that's not something we want the counterpart to do.

And then I would also see that you have to understand and be in the same line in in agreement with the counterpart. So you understand at what level are we Where are we going? Now I had a very funny experience. I want to share with you a very quick one when I was a very, very young guy. I was traveling around Europe to learn about different cultures and seeing different countries and meeting different people. So I was going through a lot of different countries and I never forget one point I was arriving in Turkey in Istanbul and Istanbul is an outstanding exciting, pretty old, old city.

And they have something called the Grand Bazaar in Istanbul, which is a huge marketplace. And a marketplace in Turkey like in the Middle East, basically selling everything you can get everything from chicken through to drinks through food, obviously through car tires, through carpets, through you name it, everything is available on a market like that. And I never forget what happened. I was walking into this huge market and I was stopping in front of a tent. That was still carpets. And I was very young, I was very naive.

And I knew absolutely nothing about carpets. And I was just standing outside the tent, looking at this huge pile of carpets that the owner had. And I've only been there for a few seconds when the owner came up to me running out very quickly. And obviously, you could quickly identify that I was not the local Turk. So he approached me and absolutely perfect, fluent English. And he said, Can I help you with anything, sir?

And I said, Absolutely not. I'm just curious. I'll just go get your conference. I'm not getting anything. And he said, Where are you from? Where's your accent from?

He said, and I said, Well, I'm actually from Denmark, and he said, Denmark. That's, that's a pretty exciting country. I was up there last year, visiting my cousin who lives just outside the city called Oh, who's and everybody up there. The locals were so friendly to me. They showed me so much hospitality. They invited me in for lunch and everybody was so friendly.

So if you know what, according to our traditions in Turkey, and I would love to actually pay back that hospitality invite you inside for class of turkeys t Now, I don't know how you feel in a situation like that. But he was a guy who was just standing there praising your own country and saying everybody was so friendly. And then he said, I have to repay that hospitality by inviting you in for a cup of tea. Now, I thought, obviously, he was a very friendly guy. And I thought I should probably say yes, for two reasons. One of them is that I didn't want to offend him by saying no, and not saying yes to us hospitality.

And secondly, I was actually curious because I haven't tasted Turkish tea and I heard about it. So I said, Yes, please don't be lovely. So he invited me inside was sitting down on the floor. And while we were sitting small talking, he had an assistant who started to prepare the tea. Now tea in the Middle East and Turkey is not prepared the same way that I typically would prepare tea. The way I prepare tea is I bought some water, I take a tea bag, throw the tea back in and boom, I got a cup of tea.

That's not the way to do it. There. He had an assistant standing there preparing the whole thing. And that took about 20 minutes and when that was done, the tea was serving a very high glass on a metal plate with some cheese on it. And we look for it very, very pretty. And I was very amazed about the whole thing.

Now while we were sitting there, as I just mentioned, my host was small talking with me because he was asking me questions like, so how long time have you been in Istanbul? And I said, Well, I just arrived in Istanbul, one and a half hours go and he said, that's a very short time. So have you been anywhere? I said, No, I just went straight to the Grand Prix style here. I haven't been anywhere else. And in in eastern Poland, he said, so you just arrived at the Bistro.

How long time have you been into the bazaar? And I said, probably three minutes before I stopped in front of of your tent. And he said, Oh, do you know what? Are you going to continue into the person walk around? And I said, Yes, I am. And then he said to me, do you know what I have?

I have a piece of advice for you. And that is there's a lot of pickpockets in here. Have you got cash on you? And I said, Yeah, I got I got local money here. Look at that. And he said, You have to be very careful because they are sneaky.

And they are quick. So I will be careful about that amount of cash you got there. I said, thank you so much for that advice that was very, very useful, then is that When are you leaving again? And I said I'm actually leaving tomorrow morning and he said That's a shame. So I, I can't really be your host for for much longer than a day. Then I said no, actually not.

He said, Where you going? Then? I said, I'm going into Bulgaria into Sofia. And he said, That's a beautiful old city. I can recommend that. And by the way, where did you come from before he arrived in Turkey?

And I said, Well, it came in from Romania. And he said, I never been there. Could you tell me a little bit about how is Romania and I was talking about that for a little bit? Then you had another question that is so while you're here in Istanbul tonight, what we're going to stay what hotel Are you staying at? Sorry. And I said, I'm just staying at Hilton Street, two streets away from me.

And he said, excellent choice. That's actually a very, very good hotel. Now, you know what, ladies and gentlemen, what I realized years later, was that he actually embarked into a negotiation. I thought we were sitting there drinking tea and small talking, but what was it he knew about my situation? After just 20 minutes, he knew I had no experience about the market condition on the Grand Bazaar, he knew adjust arrived by both nice and bold and on the ground facade. He knew that I was leaving very early.

The next day, so he actually managed to sell me a carpet, I wouldn't be able to have time to come back and complain if I discovered that it was a bad deal. He also knew that I had cash on me and he could see the pile of cash was enough, obviously, for him to sell me a carpet. And last but not least, he also knew I was staying at the Hilton, which was a reasonable expensive hotels, so he knew that, hey, this guy must have some sort of money brought along. Now I thought we were drinking tea and didn't see this as a negotiation at all. After we're done with the tea, he looked at me and he said, I can see you a very intelligent young man. And I said, I don't think I'm anything specific at all.

And he said, No, you know what, I would love your opinion about something. And then he took me out in the back behind the tent, but there was a huge pile of carpets. And let me just share this with you. When you buy something on a marketplace in Turkey or the Middle East. There's not a price level label on it. There's not a fixed price on it.

And then he asked me the following question. And this question was, do you experience that there are any stores Indian That was so complex like that. Let me just repeat what I just said. I know nothing at all about real carpets. But the carpets I looked at look very much like carpets you could buy in a store in Denmark. So I looked them in and said, Yes, I'm pretty sure you can get copies like that.

And then he's final question came. And I'll just pause for one second to let you think about what do you think was his final question? His final question was, and how much would a copy be in a store in Denmark? Now obviously, I just threw out some numbers what I thought it might be. And if anybody of you is wondering if I actually bought a copy it I can tell you? Yes, I did.

And it took me several years before I figured out that that counterpart I was sitting in front of was actually negotiating the whole time. And what he was really really good at was actually listening, getting the information, asking the questions, figuring out my situation and understanding the basics on how he could continue this negotiation and conclude, I think when you're going negotiate, you have to negotiate as a team. And that means that you need three roles basically. Now, the testing we have off negotiation in week four and week six is not allowing you to be a huge team. But in real life, we should actually be ahead of the negotiation team, a calculator, and one who's doing summarization. Now the note taker was during the summarization is basically the memory of the team.

Because as you probably already know, and will experience very soon as a lot happening in a negotiation for, for the head of the negotiation team, it is almost impossible to keep track of everything that's going on. And it's almost impossible to remember what has been said and recorded and how we continue. So the no tech guy in the team is the one sitting down just addressing everything. And the good news is is not only the head of the negotiations team that is supposed to say something and talk. The calculator and the note taker are very welcome to participate as well. They calculate This role is obviously just having control and being in control of all the numbers doing all the math.

So the great news for the head of the negotiation team is that he or she doesn't really need to understand how far we've gone into this negotiation, he or she doesn't really need to understand how much we have covered already. And the head of the negotiation team doesn't really need to understand either how the economics are looking, because obviously we need trust in our systems in what they have figured out and what the latest information from them might be. So one thing I need you to address when you are going into negotiations, obviously, what roles you should divide. And please do that very early on, perhaps even before you step into preparing the actual negotiation and the content. Another thing you should do is obviously figuring out what are the responsibilities and the function of all of these members. And you should also address for instance, if you want role playing what's role playing?

Well, if you're watching a series on television, you might see one of those police investigations where they are investigating and interrogating our potential suspects. And very often police are using the technique of good cop and bad cop. So the good cop is the one offering Coffee and Cigarettes and being very friendly. And the bad cop obviously is the one that is throwing around with stuff in the interrogation room and shouting and screaming and and creating that that fear. So that's an approach police are using in many countries around the world to to be good cop bad cop. That's what I'm talking about when I'm talking role playing so you could discussing your team when you're negotiating if you want to use some kind of role play as well.

Then you also need to address guidelines for internal communication in your team. And that means how you're going to communicate with each other during negotiation are going to sit then whisper to each other you writing notes are going to have a break every time you need to discuss something. And the final point I want to share with you is also decision making. You're going to have Pathak read as a team. How are you going to read a final decision? Is that something that the head of the team can do by himself or herself?

Or is it something that the whole team has agreed on how we're going to do that? I talked about earlier expect the unexpected and very rarely negotiation goes accordingly to what we expected. You know, when human beings are involved, something new often happens, something new is being said something differently is, is being conducted something we couldn't prepare for. So my advice to you is just don't fight for the route, the purpose the target that you've planned, you should actually take a break. Taking a break is probably one of the easiest and most simple advice I can pass on to all of you taking a break in negotiations have saved so many negotiators from losing out. And by taking a break in a negotiation you should obviously not say my God, I'm confused right now.

I don't know where we are what's up and down, or I'm very stressed right now or whatever. You could just be using an alibi like I need to go out and call the office just to check up on some numbers. I need to go to the restaurant for second I need to go out together. A bottle of water just you know, throw out something like that and a brain doesn't have to be an hour break doesn't have to be a day, a break. could basically just be three or four minutes. From a psychology point of view, just you, removing yourself from that environment of stress, that conference room you're sitting in, will actually give you a lot of new oxygen.

And we'll have to give you the benefit of stepping aside and actually looking at the whole thing. So you're not losing track of where you're going. So please use a break and even use a break during week four and Week Six, when you're involved in negotiation yourself, also have a next best alternative the NBA method, and that means always have a next best alternative to the main approach that you got. So don't just depend on negotiation with one approach, because if that approach is not working, what are you going to do then? And then as I had been saying, before, get more information about the counterpart, ask them questions, and figure out what is the real cost and value to them? If you're focused on trying to create Neko economics, it's all about information.

It's all about knowing what does that cost, what does that benefit on each variable? What would it what impact would it make If we actually asked for longer delivery time, would that cost them more than we would gain? Or would we actually gain more than if there would be a cost to them. Now, if you look at the sheets that is available to download, we have something called the negotiation planner. And that's a tool I created some years ago to assist my clients and students to prepare their negotiation. And that means it both makes the preparation easier.

And it also makes it easy actually, to conduct the real negotiation. And if you download that piece of paper right now and either look at it on the screen or print it out, because I'm just going through right now, how I want you to use this negotiation plan and you need it for both negotiations you are going to conduct on this online course. So what we got basic, as you can see, we have one area, one column up that is called the variable. And the variable we are talking about out here is basically what is negotiable. So everything you got in here is what is negotiable. So when you receive the actual simulation, you're going to conduct In Week Four, you're going to receive a simulation with some variables as well.

And you are only supposed to negotiate what is a variable. So something that is controlled by company policy, or by law is not a variable. So that's not negotiable. So what I would recommend you to do when you're sitting with the blank negotiation planner is basically leaving everything out and only starting with the variable column. So fill out first and foremost, what is a negotiation variable in this case, the next one you got the next column is point of departure. And part of the part is basically your starting point, depending on what side of the table you're on.

And the third column you have is the arena and that means the negotiation room. So in this case, just to give you a small illustration of how this would work, we have the price up here. And let's say in this case, we are the supplier and we actually getting out there and we are offering our counterpart, the customer price of 9 million, but our financial director have actually told us that we can reduce our price to 8,000,004 165 so that's obviously a threshold of pain. That's our negotiation arena. The next item down here terms of payment, we have offered our counterpart 90% to be paid upon delivery, and 10% after the warranty period, and our finance director saying, Well, you know what you're flexible, you can basically negotiate whatever terms of payment that you feel comfortable with. It's all down to you.

And the final variable we got is time of delivery. And imagine that our client had been asking for delivery time of the end of August, but our manufacturing director now company is actually saying we will be able to deliver June 1, and you know what he tells you, it might even be a benefit for us if we will be allowed to deliver earlier. So looking at this one out here, the arena should actually be our threshold of pain, it should be all possibilities or within the limits. Let's look at what happens when we expand this negotiation planner because the new column we got on is change a condition and that basically just means what happens if we Utilize the arena Are we going to when are we going to use? Now back to the first one up here the price, obviously, we have been offering 9 million, we could go down to 8,000,465.

And naturally, we would lose money. Now in a real life negotiation, I would actually write the difference here. So the difference obviously, would be the difference between the 9 million and the 8,000,465. So I would write a minus and then write the number up here because that is basic what I would be losing out obviously, if I reduced the price, terms of payment, well, what we know is that we have been offering the 90 days and then the 10% or sorry, the 90% paid at delivery 10%. After the warranty period, we have flexible as we heard, but we know that we have an 8% internal interest rate. So offering a longer terms of payment obviously will cost us 8%.

And if we get the money in earlier, that will give us a benefit of 8% and the last variable we got was time with delivery and the customer has asked for interval but we would love to To deliver June 1, and we would love to do that because we know we have free capacity internally in the company. So it would be a benefit to off if we were allowed to deliver earlier because we have that capacity. Now what I need you all to think about is how can I capitalize the change of condition into monetary value. And that is regarding whether it's euros or British pounds or dollars or Japanese general or whatever, not important, you just have to translate it into a mutual common currency. So you need to address all of the variables and move them into a value. So let's just focus on one of them.

We got up and the one we have focused on right now is just the time of delivery. What I'm doing in this case is I'm actually translating the benefit of us delivering June 1 into monetary value. And we have calculated internally that that will give us a benefit of 185,000. Now what we don't know obviously is what is the cost for the counterpart And is that even an option? So if you look at the last part of your negotiation plan, what you can see on the other side of that vertical black line is we have the arena and the counterparts condition. And that basically means the counterpart negotiation area and the conditions what happens if they utilize their arena?

Now I put a question mark in there for two reasons. One of them is we don't know it, obviously. And secondly, we have to ask a question. We're never allowed to guess or assume something in a negotiation. Please remember that. So I have to ask a question.

And listen to what I'm trying to act out in the next minute. I would go into the counterpart and ask them My dear counterpart, would it be okay for you if we delivered on June 1 instead of of the end of August, as you requested? Now, the counterpart might look at us and say no, do you know what absolutely not we're not interested in Nordea at delivery. We just wanted on the original date we have requested we shouldn't give up right there. So we have to peel off the next layer of the onion and ask the next question. And then the next question would be, what is the reason that you wouldn't accept an earlier delivery?

The counterpart might be looking at us and say, Nope, I wouldn't accept an order delivery, because the equipment you're delivering is going to be installed in a building that is not finished at that point. So we're not ready to receive it. Okay, that was the second layer of the onion, then we have to ask a third question. And that third question would be, would it be an option for you to speed up the process of finishing that building? And if yes, would that have a cost to you? The counterpart might look at us and said, You know what, it is actually an option to speed it up, but it would cost us money.

Our fourth question, would that be as you know, the amount it will cost you to speed up that finishing of the building? And then the counterpart might say, Yes, that would cost us 120,000. Now we're using the very famous technique of listening, summarize and luck because our final question to the counterpart would then be if we're willing to come saved you for your cost of speeding up finishing the building of 120,000. If we pay that for you, would you then accept our delivery on June 1? Now what happened Ladies and gentlemen, if the counterpart says, Yes, that's okay, what happens is you have just quantified the potential of macroeconomics, because you had a gain of 185. And the cost to the counterpart, as you might remember, was 120.

The difference between the two numbers here obviously, is 65. And that's a sum of neck economics of 65,000. So in our savings very simply is bigger than the counterpart cost, we have created an added value. Just to wrap up this short video right here, look at our quotation in this way, a very traditional zero summer approach into negotiation could be getting in there with a quotation, opening up negotiation. By doing a presentation, argue why the content of the proposal is as as it is, you might be sitting there waiting for the counterpart respondents are they going to counter argue what's going to happen. And you may have offered a price of 110, your threshold of pain is 90.

The room for negotiation, obviously, is the 20,000. Because that's only the traditional room for negotiation. And your boss has been telling you try and sacrifice as little as possible this time. So we make some money. And your method might be a funny combination of concession, combat compromise, and something else just happening, accidental. That could be a very typical zero sum approach into a negotiation.

What I would love you to think about is not doing this zero sum approach, as you can see on the screen right now, instead, I would love you to start with thinking creatively and thinking out of the box. So think about this way, is there anything any factors we can remove? Is there any factors we could transfer to the counterparty, the counterparty cost of handling something is low than ours, well, then it would certainly generate a benefit. Would that carry of value for us? And how much of that value could we give to the counterparty, you could also look at the other side of the table and saying how much of the packets could be reduced to low or no expense without having value for the counterpart and how much concession could we ask in in return for doing something on their behalf. So that means think about the approach entered into a negotiation, as is not about winning at the expense of the counterpart.

It's winning and at the same time making sure that the counterpart is making a profit. Last couple of slides I want to go through with you regarding preparation is find the added value that means focus on economics, and that's one of your challenges and where you will gain points on the exercise and we boil in six that is simply focusing on how do we utilize generate and capitalize macroeconomics. So one of the advice I have for you is start off with the negotiation planner and write down all variables. So when you get the simulation, start off understanding the case the content and variables, define your room for negotiation. I don't want you to embark in any negotiation before you actually know your room for negotiation. So that means your starting point, your target and your placeholder pain.

What would happen if you take advantage of your room for negotiation? How's the counterpart room for negotiation looking like and what happens if the other party takes advantage of his room in this negotiation? And please remember this very simple phrase out here, if your costs are lower than the profit of the counterpart, you have identified nickel economics. The last slide I want to share with you is the bargaining phase. And that basically means how are we going into negotiation exchanging information. So that's actually phase six, as you might remember, the 10 phases we talked about in the beginning of this course.

And please remember the problem is that a lot of negotiator negotiators are afraid of closing the deal. So They might end up in what I call the ketchup effect. Does that make any sense to you what I want to catch effect might be? Well, you remember the old days when you only getting ketchup in a glass bottle, remember that. And then you're taking the lid off this glass bottle, and then you're trying to get the catch about in the beginning, you're just sitting there and trying to get the kitchen out and nothing happened, right. And nothing would happen.

At any point. Even though you push this button a lot, then you will usually find a knife, you will shuffle the knife up there and just shake the knife around. And then you would turn the bottle again, and shake it once more. And now what will probably happen, you would get ketchup everywhere because all of the kitchen was now basically coming up, catch up on the ceiling and the flow on yourself and everybody else that sometimes happens in negotiations as well. People are so reluctant to open up They're so afraid of sharing information, and they're so afraid of actually reaching a conclusion so the whole thing back so that means they will never get to the final point until they have half an hour left and everything explodes at the same time. Not a good way to conduct negotiation.

So I just want to wrap up by saying, get an overview of all the options and all variables. And please remember this one concession is bad, we're going to talk about that on the different negotiation styles. But you're not allowed to give anything away without getting something back. So this is a very crucial point. And also remember, you have to be generous, you have to be able to give something but not give it away for free, that's a trading pocketing option and start by looking for solutions that will generate value. So that means nickel economics package solution or very often superior to salami solution.

So that means if you can wrap everything up in one package that will be a benefit for you. And generally remember that the offers from the counterpart might be negotiable. So you should not just accept whatever is being said from the counterpart. And also think about how do I put pressure on the counterpart during this negotiation, you will have a limited amount of time to conduct your simulation. So you have to do it thoroughly. And you have to make sure that you get information out and At the right time, and please remember the last one down here many negotiation ends up in a compromise.

And that is not a good thing I'm going to share with you guys as well why compromise very often is a lose lose situation in negotiation. What I'm just going to focus on here is basically just one of the things in this slide and that is be very off mock office and a mock offer. If somebody is walking wondering what is a mock up a mock office really when you are offering something that is way too high or too low. Imagine that I was selling my brand new MacBook Pro from Apple. And I think the store price in the US is about $2,000 and if I was offering that for you and you said I'll give you $50 for that, that'll be a mock offer. It will be something that is so low balling so it's almost offending the counterpart.

So be careful about not getting too far away from the realistic world.