What would you do with the spare cash saved from discounts on your
Jay reveals just how far a simple question can take you and how much it can
save you too! If you could do with a reduced phone bill, cheaper broadband or a
discounted holiday then listen to the tips and strategies imparted in this episode
of The Business Mentor Podcast and remember – don’t be afraid to ask!
How I saved £40k in just a one-year loan
Anything you do, whether you’re negotiating or if you’re selling
something, always ask the additional question. When you buy something
or let’s say you’re buying a website, or you are re-negotiating something, don’t
take anything as being the final price.
Ask them, is that the best price, is there some negotiation about that,
can we get a bit of discount? If you ask that question, more or less all the
time, you will get more and more people saying yes to you.
For example, Jay called his finance supplier and told them he’d been
with them five years and asked if there was a possibility of a discount.
The customer service advisor spoke with her manager and offered a 0.5%
discount. In recruitment the turnover is really high, so 0.5% actually turned out
to be a £40k saving in one year. A saving of £120k over three years.
Jay also negotiated his broadband, Sky, mobile phone bills, everything. Around
50% agreed, he saved about £600 off his bills that particular year.
Seven tips which will help you adopt this action.
1. Don’t be Afraid to Ask!
Start with easier things, like your utility bills, your mobile phone bills
because you are a customer, they are less likely to tell you to go
anywhere, so I would just start with the easier ones.
2. Shut Up and Listen!
When you ask a question you need to let the other person talk. The rule
of seventy/thirty. Listen 70% and talk 30%.
3. Do Your Homework!
Go in with information to help you seal the deal, for example if you’ve
been with your mobile phone provider eight years, tell them you’ve been
loyal and remind them of how much money you’ve spent with them.
4. Always be Willing to Walk Away!
Be happy to walk away. It’s not guaranteed you will always get a
5. Don’t Be in a Hurry!
If you ask them for a discount or you’re asking a client to an upsell, a
product, a second thing, don’t be in a hurry.
6. Aim High and Expect the Best Outcome!
When you’re negotiating if they ask you the question, “How much are you
looking for, Sir/Madam? What are you looking for in regards to a
discount?” I always say 50.
7. If someone says no to you, Don’t Take It Personally!
Don’t start attacking the person on the phone.
Asking the question at a corporate level. In McDonalds, when you ordered
your hamburger did they ask you the question about would you like to make
that a meal? When you go to the retail shop, when you get to the till, have you
noticed people out saying “Would you like two batteries for £1?” Simple
upselling, many returns!
Can you offer us a discount for booking it earlier? It’s a bit of fun, It’s such
a simple, method and most people don’t do it!
ABOUT THE HOST
Jay Dhillon is a well-established entrepreneur and has built up many businesses
from start-up to success.
In 2005 he built a business from 0 – 500 employees with a turnover of £5
million per year and this with no investment apart from his savings. This
business brought in major clients such as Land Rover, Jaguar, Toyota and New
Look just to name a few. His passion and skills have since allowed him to build
many more businesses.
Today Jay has multiple business in various sectors. His achievements for his
work have been highlighted in a visit to Buckingham Palace to meet with Prince
From humble upbringings, Jay feels that anyone can be successful in the
business world. With over 18 years in business, he is now sharing his knowledge
and skills to help other inspiring entrepreneurs succeed in the world of business.