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Master the Art of Negotiation

How to Master the Art of Negotiation: Learn these 4 Core Strategies from Harvard University

Today we share key ideas from “Getting to Yes” by Ury and Fisher, focusing on achieving mutually beneficial negotiation outcomes.

Negotiation isn’t about winning or compromising; it’s about understanding and addressing underlying interests.

There are four strategies:

Focus on Interests, Not Positions: Instead of arguing over what you want (positions), delve into why you want it (interests). This fosters empathy and opens doors to creative solutions.

Use Fair Standards: Rely on objective criteria like market rates or regulations to make decisions. This removes personal bias and creates a level playing field.

Invent Options for Mutual Gain: Brainstorm solutions that benefit everyone. Differences can be the source of creativity, leading to win-win scenarios.

Separate the People from the Problem: Maintain a respectful relationship while addressing the issue head-on. Be firm on the problem but understanding towards the person.

Compare Interactive Brokers Fixed Pricing and Tiered Pricing

Compare Interactive Brokers’ Fixed Pricing and Tiered Pricing | the Winner Goes to Tiered Pricing

The conclusion is that Tiered pricing is cheaper compared to Fixed pricing in terms of the commissions you have to pay when buying and selling stocks using the Interactive Brokers platform. In this content, we calculate in detail how much commission you have to pay in different scenarios including how big is your trading amount, buy or sell, whether you buy on the bid or ask. Hopefully, our insights can help as many investors as possible to reduce their investment costs.

Comparison of Gross Profit Margins of Major Car Manufacturers - cover

Comparison of Gross Profit Margins of Major Automobile Manufacturers | Recent Overview of the Automobile and Electric Vehicle Industry

The figure compared the gross profit margins of major international automobile manufacturers over a period spanning from the second quarter of 2022 to the fourth quarter of 2023, totaling seven quarters. In the fourth quarter of 2023, the gross profit margins of each car manufacturer from highest to lowest were Toyota at 22.3%, Honda at 21.7%, Tesla at 17.6%, General Motors at 7.7%, Ford at 5.5%, and the startup Rivian at -46%.

Surprisingly, Rivian had a staggering gross profit margin of negative 193% in the second quarter of 2022, likely due to insufficient production capacity, possibly inadequate yield rates, and insufficient sales. However, fixed costs such as management expenses continued to be incurred, demonstrating the significant challenges faced by capital-intensive startup companies. Since its inception, the company has yet to turn a profit for any quarter. Nonetheless, its electric pickup truck performance and camping experience are remarkable, and there is hope for Rivian to perform well in the future.