The Anchoring Effect: The Secret to Making More Money, No Matter Where You're From!

When it comes to negotiation , everything depends on the words used and our tone and body language. Today, we're diving into the "Anchoring Effect," and how you can use it to boost your bank account, negotiate killer salaries, and make your products the hottest thing since sliced bread. Exaggeration? Maybe

What's The Anchoring Effect?

Imagine you walk into a store, and the first price tag you see is $500 for a TV. Now, every TV after that either seems expensive or like a real deal, based on that first number—$500. That first price *anchors* your mind. This, my friends, is the Anchoring Effect.

How To Use It To Make More Money

1. Set The Stage When Negotiating

You're an immigrant; you've got hustle in your blood. So, you're at a job interview, and you know you deserve more than the starting offer. You gotta shoot first! Say your number before they do. Ask for $80,000 if you're expecting $70,000. That number becomes the anchor, and you're more likely to get something closer to it!

Example: My Client Puneet, who moved here from India, did this and scored a salary that was $10,000 more than what the company initially planned to offer. He did this so well that he got an additional week of paid time off. See? Anchoring works.

2. Start High With Your Products

Selling something? Whether it's luxury cars or sizzling hot tacos, start the price high. The first number customers see sticks in their heads. Let's say you're selling homemade soap. If customers first see a set for $50, they'll think $30 for a single bar is a deal!

Example: Lets say you quit your job and started a bakery. You initially priced you cakes high. Guess what? People bought 'em like hotcakes when you introduced "budget" options, which were still priced nicely for you

3. Always Negotiate From The Top Down

Let's say you're buying a car. The salesman says, "This beauty can be yours for just $30,000!" You should immediately counter with something lower but realistic, like $25,000. The salesman is anchored at $30,000, and now you've set your anchor.

Example: Ahmed, an immigrant from Egypt, knew this trick. He never accepted the first price for anything, not even for his apartment rent! You shouldn't either. Negotiate!

4. Bundle for Profits

Got different products or services? Bundle 'em up and offer a “package deal.” If you anchor the total value of the package and then give a discount, people think they're getting a steal!

Example: Another one of clients who moved here from China, bundled her graphic design services with website development. Clients saw the value and happily paid the "discounted" package price.

Final Thoughts: Why This Works For everyone especially immigrants

Listen, as an immigrant, you've got strengths many people don't have. You're adaptable, resourceful, and hungry for success. Use the Anchoring Effect as another tool in your ever-growing arsenal to conquer the land of opportunity!

To Sum Up:
1. Shoot First in Negotiations
2. Price Your Products High
3. Negotiate from the Top Down
4. Bundle Up and Cash In

So go on, use these anchors and set sail to a more prosperous life. And if someone tries to tell you it's impossible, tell them to take a hike. With the Anchoring Effect, you're not just possible; you're unstoppable.

Your past does not define your future. You are loved, you are enough and you can achieve your Goals.

Still got questions or obstacles in your way? Hit me up. I've got tailored, hard-hitting advice waiting just for you.

That’s it, folks! Now go out there and use the Anchoring Effect to make some dough.

Use it Ethically always, if you sell something, ask for more money or whatever it is make sure that provide more value in return so the one paying you always get more for their hard earned currency.

Peace out.

-Sumant Joshi