Kevin O'Leary: How To Negotiate, From Salary To Cable Bill
"Squeeze heads every time you can."
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On ABC's "Shark Tank," Shark Kevin O'Leary is known as one of the toughest negotiators on the show, digging his heels in on deals he thinks are fair and fearlessly pushing for what he believes he deserves. And he's got some good advice on how you can negotiate for the things you want in your own life too, whether it's your salary or your cable bill.
"You know, in life, you'd be surprised if you ask for things, sometimes you get them," O'Leary tells CNBC Make It. "Squeeze heads every time you can. Yeah, it sounds like work, but it's worth it."
Negotiating your salary
While O'Leary says as an entrepreneur he's never asked for a raise - "The only person I've ever asked for a raise from is me, and I was very accommodating," he jokes - he's been on the other side of the table.
O'Leary says when it comes to salary, wait until you've been at your job for at least a year and have been doing well, then speak up.
First, arm yourself with the facts, says O'Leary. Research what other people are making at your level in your industry and sector. Understand what the highest and lowest salary is and then aim to get yourself in the top 25 percent of that range.
"If you're doing a good job [at your job], you want to start asking for more," O'Leary says. "They expect you to ask for more. If you don't ask for it, you won't get it."
Negotiating your bills
With something more simple, like your cable bill, play hardball for a better package or fewer fees. For example, if you are paying for channels you don't watch, "call up your provider and say, 'Tell me about your other packages, because if you don't give me a better deal, I'm leaving,'" O'Leary says.
"I've done this my whole life," he says.
"Believe me, they will hop to. They want to know what it's going to take to keep you as a customer, and you want a reduction in fees. You're going to find a happy medium pretty quickly. You'd be surprised.
"Your job is to squeeze a cost cut and a savings out of them," says O'Leary. "You can do it. It works."
In terms of bigger loans - like a mortgage or business loan - O'Leary says you can try to negotiate your way out of lender's fees. Start by saying you simply don't want to pay the fee, O'Leary suggests, and if they don't budge, offer half of what they are asking for. You'd be amazed at what you can get simply if you just ask for it, he says.
"You can push back hard on that," O'Leary says. "They want to loan you the money because the core profit is the interest they charge you."
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'Shark Tank's' Kevin O'Leary: This is how to negotiate, from your salary to your cable bill | CNBC Make It.
Пікірлер: 176
“If you don’t ask, you don’t get” Words to live by
@billyjohnson9166
5 жыл бұрын
Exactly. I go by that saying.
@tiendoan1333
5 жыл бұрын
And it is also true that "If you ask, you may lose it all"
@JohnLee-fr6pi
5 жыл бұрын
@@tiendoan1333 that means you were not worth it in the first place.
@chrislanejones
4 жыл бұрын
True... I like the squeaky wheel gets the grease too!
@dchawk81
4 жыл бұрын
@@chrislanejones Squeaky wheels at my employer get ignored until they catch fire and fall off.
This guy would negotiate with a parking meter.
@swordstrafe
5 жыл бұрын
He tried to negotiate with Tesla... for 4 hours... he got exactly 0 cents....
@cardenfoy
4 жыл бұрын
aint nothing wrong with that. i park a half mile away to save $7 i just earned $20 an hour.
@gabrielhillceo
4 жыл бұрын
What did he try to Negotiate with Tesla?
@chrislanejones
4 жыл бұрын
Ha... I negotiated a parking ticket... I got it waved!
@HilmyA.S.
4 жыл бұрын
*AND WIN*
The cable thing is so true. Call centers for subscription services are trained to try and keep you on the plan if you say you don't enjoy the service. That often means sweetening the deal a little. The cost to acquire a new customer is much more expensive than retaining a cheaper one.
@TheLegendOfSG
5 жыл бұрын
Cable definitely. I called them and they made my bill from 125 to 25 dollars 😂.
@zendannyy
4 жыл бұрын
Gurjit Singh please elaborate on this deal lol
@ivenstorm
4 жыл бұрын
Yeah, not true where I live. I tried that, and they pretty much told me that I couldn't get a better deal. That their "deals" were only available to new customers and not existing customers. So I was paying something like 130 for all 3 services(phone, cable, internet), while new customers were getting that same deal for 90. Sadly they hold a monopoly in my area, only 2 companies and the other one is even worse.
@Times397
2 жыл бұрын
Any advice when it comes to Netflix? I just called the customer service department and they basically said they don't know what a retention department is.
Broooo this worked got 50 dollars off my T-Mobile plan
@blixx87
4 жыл бұрын
Lmao. ive done the "im leaving" to my mobile carrier and got mad discounts too. I pay $30 a month for unlimited EVERYTHING
@jrmorales822
4 жыл бұрын
Omg how?! What did you do? Any tips or advice on what to say? I also have T-Mobile (4 lines for $190). I want to try to bring that down. **anyone else who sees this please chime in**
@kairos2687
4 жыл бұрын
@@jrmorales822 just like what he said in the video, whatever way you say it the topic should be you are looking at another company as they have a better deal, works good if you have been with yours for awhile.
@maxs2845
4 жыл бұрын
Ezekiel Morales call them, tell them you are hitting hard times, that you don’t want to leave them, but you have to to find a cheaper line then ask them to work with you.
@jrmorales822
4 жыл бұрын
Max S appreciate your response, thanks 👍🏽
I have negotiated with cable, insurance and it has worked. Buying a car is a different story. Kevin could you do a video on that process? Thanks
@theoakman80
5 жыл бұрын
Buying a car is even easier. Just tell them you went to the Toyota dealer an hour before and are leaning towards their car.
@JohnLee-fr6pi
5 жыл бұрын
Be willing to walk away. Then ACTUALLY walk away. They will bring in their manager and the manager will offer you a lower price. Then say it's still too much and be willing to walk away. Then ACTUALLY walk away. The manager will bring ANOTHER manager! And they will offer you an even lower price. You keep doing this until you're actually walking out the door. That's how you know you got the rock bottom price. Then turn around and walk right back in and say you're willing to do the deal for the last price offered if they waive those unnecessary fees that they try to tack on. Good luck!
@gord2358
4 жыл бұрын
@@JohnLee-fr6pi - Awesome advice!
@cyenkwang
4 жыл бұрын
You may consider buying a Tesla.. great deal online and no negotiation needed.. also there’s additional rebate you will be entitled to, tax saving and rebate
@Smexy_af
4 жыл бұрын
Say you want to buy a Toyota. If you say that you're leaning towards an equivalent Honda then they will try to sell you features, cost of ownership, etc. Just visit multiple Toyota dealerships because they are franchises managed by different companies. Compare prices for the same car with same options and trim level and go to the ones that are offering you the lowest cost. The other dealers will call you and you can just say that you got a better deal elsewhere and 9 times out of 10 they will give you an even better deal. If you're willing to sway a bit with options, just say so and they might just give you a car for dirt cheap that is already in their inventory.
If you don't take care of business, business will take care of you.
@ronaldmiller156
5 жыл бұрын
In America, you take care of business. In Mother Russia, business takes care of YOU!
Being a good negotiator is a fantastic skills for success!
@hacker010010101
5 жыл бұрын
ummm obivously?
@sfrealestatedealmaker6001
5 жыл бұрын
paasuke - 👆🏼That’s a SPAM BOT. Why are you replying to it? 😂😂
This is true I called up Netflix and talked to their retention officer and told them I don’t watch house of cards or 13 reasons why and all those other TV shows. Now I only pay $5 for Netflix
@johnyfausman959
5 жыл бұрын
actually?
@wsharifi123
5 жыл бұрын
NukeFace :D in my experience anytime i try to cancel a service they offer a temporary reduction in price, 1 month usually or 3 months, then it goes back to normal pricing
@Elonfuckingmusk
5 жыл бұрын
In my case the retention officer wrote up a contract for me and guaranteed me the $5 price for a year.
@lessemo
5 жыл бұрын
Your joe rogan thumbnail is funny lol
@Elonfuckingmusk
5 жыл бұрын
lessemo thank you
I ll be getting a job offer tomorrow, i am gonna ask for an increase and see how it goes Update: I chickened out 😭😭😭😭😭😭😭 Update 2: finally got guts to speak and before the signing day contacted them and asked for raise and other terms. All i can say is 😁 😁 😁 💷
@InvestingBookSummaries
5 жыл бұрын
: ) You're the boss, baby
@MBisFrenchy
5 жыл бұрын
@Mike G Agreed. Say I've done X Y Z above my requirements of A B C and do it well.
@rnt7929
5 жыл бұрын
Tell us how it goes
@chee1989
5 жыл бұрын
Go out there and squeeze heads!
@likeasambud9817
5 жыл бұрын
Well? What happened? Were you successful?
Do this with your AT&T, Time Warner Cable, Verizon, Sprint, etc etc. It works 100%
@hlboerr
5 жыл бұрын
I'll be calling them tomorrow!
@brewanalysis2764
4 жыл бұрын
Not always. Verizon refused to lower my bill even after repeated phone calls, talking to supervisors, and threatening to leave. They would not negotiate.
Kevin O Leary is awesome, by far my most favorite Shark Tank guy!
me: I'm not paying for the donuts friend: you gotta pay what you owe me: I'll pay half friend: ok biznes 100
The retention officer thing really does work. I used to work at this job for a small TV network and they had to make calls to Dish for their channels' customers. I learned what finessing truly was when she was able to get discounts all the time through this method lol.
On mortgage and buying houses his words are gold. You literally need to look at every line item on fees the lender charges and ask why? Shop around with a couple of other online lenders for loan estimates. You will save thousands by doing so. It’s a lot of work but it’s your money that you worked hard for, so make sure you keep it with you.
I sent this to my wife: She doesn't think you should have more than one credit card. She doesn't think a internet bill can be lowered. She didn't think I could ever afford a house. I have proven her wrong in so many ways... Too bad I can't say the same for her mother.
The one thing that surprised me that people don’t negotiate on is jewellery. Engagement rings you can get up to 20% off if you go in towards the end of the month. I was shocked that people didn’t know that!
If I don't like what I'm offered, I always resist at least ONCE and often that's enough to get something more up my alley.
I tried doing this with Geico and they didn’t even care when I cancelled my insurance with them.
@MrTmenzo
4 жыл бұрын
Lol
@dogestranding5047
4 жыл бұрын
@@MrTmenzo doge
@need4spe3dBeast
4 жыл бұрын
Choose a different insurance lol
The key to successful negotiations if for both sides to benefit. Get to know your boss well, make it clear to them your abilities, then ask for higher salaries in exchange for more work. That way both sides feel like they've won, the boss gets more labor and you get more salary.
"learn to ask" funny... Nardwuar did a TED talk about the benefits of simply asking... Cool.
Negotiating doesn't always work. I threatened to leave Verizon if they didn't lower my insane bill. They refused. I talked to a few supervisors (probably just the person in the next cubicle), retention, even went to the store, everybody said no. I ended up going with prepaid and cut my bill in half.
Those are really good advice from him! MR. Wonderful love MONEY and it's always beneficial to take his advice.
Great advice Kevin, thanks for sharing! I will just say in my opinion (from the employee POV), sometimes if you (as the customer) overdo it and are completely unreasonable with the negotiation, it can sometimes rub people the wrong way and make them just decide to not give you anything lol. At least that has been my experience so far. When I have a customer who negotiates reasonably and respectfully, it can be very effective. If a customer goes about it in a rude and entitled manner however, I'll be honest and say it makes me not want to deal with them, so they are much less likely to get a discount/reduced rate
Love these advices, I’m sure we all know these but sometimes we need more encouragement.
Does this work for probation officers too?
Mr. Wonderful properly informing the public one’s again, per usual . What and amazing public serve this man is doing 👏🏼
How do I get my car insurance, mortgage and phone bill payments down? What do I say? Help anyone
@need4spe3dBeast
4 жыл бұрын
Say that you are not satisfied and you are seriously considering leaving. Dont even bother for mortgage though ill tell you that much man.
His attitude of “I’m not paying” or “I’m going to leave [the subscription]” is inspiring I’m just imagining me saying that like someone who practices in front of a mirror for asking out a girl on a date 🤣
I always do this with every single service. I have saved thousands of dollars on everything from fees to subscriptions. Be polite, yet firm and always be 100% ready to walk away from a bad deal. In many situations, they can sense when you’re going to walk away they will cave. They have time invested and would rather take a hit than lose that time they invested.
@InvestingBookSummaries
5 жыл бұрын
Yes, the moment they think you're walking out it when they'll give it up!
Ask and it’s given. Love this guy.
I went into a Verizon store, asked for a phone, they told me $180. I told them $90, they told me $130, I asked to see their manager, I got it for $95. I kept $85 in my pocket in only 5 minutes. Wow, I could have probably saved thousands of dollars over my lifetime.
Why the music and the dumb pictures... kevin O'Leary is more than fine. For this kind of video.
@CommandoMaster
5 жыл бұрын
Exactly. The music and dumb pictures detracts from the point of the video.
@sanjarsocool
5 жыл бұрын
I think it worked well
Have not seen this video before , but I live life this way. If theres a deal or a whiff of wiggle room for negotiation , I will push it.
I recently named an arbitrary price with my car insurance. I said I want to be under X amount of dollars per month. They basically said ok we'll make a small adjustment to your deductible and boom. Done. Now I'll save about $200/year
I love this guy
What if you get an employee who flat out doesn't care if you leave or not. Say cable company or cell phone. "OK sir sorry to hear you're leaving, check back with us if you ever change your mind. BYEEE" How do u deal with THAT? 😂
I love the stock videos! They fit so well lol
So an ultimatum 😈 this relates to knowing your worth...
I think I’m going to do this with my car insurance company! I keep getting ads for much lower rates. Maybe if I tell them that, they will give me a discount 😁
Thank you sir
Simple and true! Love Mr.Wonderful!
I do that all the time to reduce my bill. It works 💯 of the time!
Some solid tips 🧡
The only video that changed my life.
"I never worked for anybody" hmm, a lot sources say otherwise ... "In 1978, between the first and second years of his MBA program, O'Leary was selected for an internship at Nabisco in Downtown Toronto" Stop the capping, Kevin.
What if the negotiations back fires... if they say wont cut the loan fee.... should I go to another bank????
Good tips
In the book "Never Split the Difference." the author mentions that if you are too good at negotiating, you actually lose money. Nobody wants to do business with you.
@gord2358
4 жыл бұрын
Kevin Whitsitt - So true. I worked for a guy once who tried to chisel the owner on a building lease so much that the owner said eff you. It was a perfect location with tons of exposure for what we wanted to do.
@Arkprog
4 жыл бұрын
You’re not good at negotiating then
I try to negotiate anything
How can I negotiate if I'm in a union??
Hey Kevin, how would you like to be the president of CBC for a year,what changes would you make?
Could I negotiate with a phone bill? My Mom pays $65 a month for her unlimited plan on AT&T.
You get paid for the value you bring not by demand
There is a first time for everything.
Great advice!
I have to admire this guy. Tesla? 😂🤦
Nice but i don't work for people
Don't pay "Document fees" when buying a vehicle
Yay! Kevin O'Leary!
Bottom line: ask and you may receive and everything is negotiable!
When you ask, ask with conviction. I've called people bluffs when they want to cancel an account plenty of times. Sometimes I don't actually cancel, but talk like I'm one button push away until they interrupt with - "NO NO NO STOP", the ones who were being a rude about it, those ones I will cancel and politely tell them their cancelation request has been fulfilled.
Last time I told timewarner im shutting you guys off, its wayy too expensive. I got transfered to someone who can help me get canceled.
The US President just walked, wonder if that's part of this idea.
Got my rent from 925 to 766
One of the few people I actually listen to.
Nice
He talks alot of bs sometimes but 2:48 is just true.
You good, Ask
Who gave this guy a show..
Squeeze heads everywhere you can.
Fun fact wealth and brilliance don't go hand in hand. (Perfect example)
Boutta call up netflix.. hol up
Take it from the poorest negotiator on Shark Tank. I’ve only seen his offers get rejected, wtf CNBC Make It?
@brendanryan3493
5 жыл бұрын
ProPaleo he’s worth 400 million
Kevin O leary is basically saying "This is why you're poor, and i'm not"
The BRoll doesnt actually help the production value. Just to let you know.
being a billionaire is easy to get what you want in the other hand (us) it ain't so
The music and dumb pictures detracts from the point of the video.
I hate lucky baby boomers.. One good investment during a economic boom and suddenly they know it all. 😑
@MarkTravisMusicPage
5 жыл бұрын
Eroxx omg are you a communist or something. Stop with the victim mentality
@brendanryan3493
5 жыл бұрын
Eroxx he’s worth 400 million with 15 companies
Sounds like Kevin has been skimping on Netflix by being a Karen.
Listen to this Kevin O'Leary carefully.
It's funny that he mentions this because this actually a skill set and also why the poor stay poor. They too afraid or ignorant enough to be aware to negotiate in everything.
Bet most viewers came here to find out how to get paid more with less work and competencies.
Isnt worth making more money and taking on more stress.
@huongyi
4 жыл бұрын
Having less money is more stressful. I'd rather stress over a problem at work than stress over not having better living condition. Both are manageable and solvable. Gotta choose your wars I guess.
I thought his first job he got fired from
Hold my beer
I want a reduction on cable bill or I'll cancel.. cable company ok subscription cancelled. 😑 He never held a real job in his life he must know the struggles of middle class America great advice 😑...
@thesupergamer85
5 жыл бұрын
Eroxx you’ve clearly never called a cable company because they will lower your bill, most people are too lazy to try
@MarkTravisMusicPage
5 жыл бұрын
You obviously don’t know his story because he wasn’t born into wealth.
@MarkTravisMusicPage
5 жыл бұрын
Plus I called to reduce the cable price and they more than halfed and they added premium channels at no extra cost
If Kevin was an Indian he would have been super Badass!!
@yaj1v
5 жыл бұрын
uhhh
Is he Jewish? Lol
I negotiate with my toilet every time.
I negotiate my speeding ticket fines!
@elizabethle3460
5 жыл бұрын
Omg did actually work??!!
@Mark-sy2bx
5 жыл бұрын
@@elizabethle3460 It always works. I have it negotiated to a parking ticket, just pay fine and not on record. I've also negotiated it down to $20.
0:57 "You might even get fired!" Shows black man. Black man does not perform?
Why the black dude gotta get fired lol jk
The people who are fans of this money hungry gnome deserve all the bad things that happen to them.
@uplayulay
4 жыл бұрын
BETA!!
@SamuelLJackson55
4 жыл бұрын
@@uplayulay is that what your wife's boyfriend calls you?
@uplayulay
4 жыл бұрын
Ander Pa my wife thinks you’re a beta male too
@SamuelLJackson55
4 жыл бұрын
@@uplayulay ok
Good business personality, terrible actor.