Anchoring
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title: Anchoring description: The first serious number can shape the entire conversation.
ANCHORING
Whoever puts the first number on the table may define the conversation.
THE €20M EXAMPLE
I say:
€20 million.
Suddenly, we’re no longer discussing the value from zero.
We’re discussing whether €20M is too high or too low.
The first number has created a reference point.
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WHY IT WORKS
The human mind tends to adjust from an initial reference point.
That is the anchor.
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BUT…
An anchor can be too extreme.
If I say something completely absurd, I may lose credibility.
A useful anchor should therefore be:
ambitious + legitimate + justified
I need to be able to explain where the number comes from.
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THE MOVE
Before the negotiation, I should know:
- my target
- my justification
- my evidence
- my limits
- their likely expectations
Then I can decide whether anchoring first makes sense.
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CONNECTED IDEAS
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REMEMBER
First number = gravitational pull.
