Coke Reciprocity Negotiation
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Sam shares a story about using psychological influence principles to negotiate the price of a motorcycle.
"I went to buy a motorcycle from a guy who was asking $3,000 for it. I thought I'd be willing to pay about $2,200. So I went and bought two cans of Coke. When I showed up to the place, I opened one and started drinking it. I said 'Hey man, you thirsty? You want a Coke? I was just down the street and bought one, thought maybe you'd want one too.'
He opened it up and started drinking it. I then said 'Cool motorcycle, I'll give you $2,200.' He responded, 'Everyone's been offering me that, I'm not gonna do it, but you seem like a nice guy, I'll do it.'
I don't know if the Coke was the reason, but that's just an example of these little tiny things that if you do them effectively, they kind of add up to be pretty effective."
Sam Parr
Host of MFM and fitness influencer
Sam Parr is a serial entrepreneur and business media pioneer.
In 2016, he founded The Hustle, a business news media company that started in his kitchen with just $12 and grew to eight figures in revenue.
Sam led the charge in making newsletters popular when few believed in their potential.
After four successful years, he sold The Hustle to HubSpot, a publicly traded company. Now operating as HubSpot Media, The Hustle reaches 3 million readers daily, employs a team of nearly 100, and has been the launchpad for dozens of its staff to found their own media companies and newsletters.
Sam remains the host of the popular business podcast, My First Million, and continues to start and sell companies. He also co-founded Hampton, a highly vetted community for entrepreneurs, founders, and CEOs, and teaches people to write better through his platform, Copy That.