When discussing a debt workout offer and compromise, never use a range of numbers.

It is a very common presentation, it goes like this: I will pay you $3,000 to $5,000. So let’s see, which number do you think the creditor may accept? Obviously, it’s the $5,000. Which number do you think the man offering the compromise wants to pay? Clearly, it’s the $3,000. So why do we create this obvious disconnect? It means wanting to soften the blow by appearing to offer more and wanting it not to look as bad or as low as it needs to be.

Personal weakness, wanting to suggest more but pay less, it never ever works. But business owners very frequently apply this strategy, with obvious and clear failure in store.

So here is the very simple rule. Never do this. Stop, consider what the number should be and offer it. Do not offer a range, it is silly, it does not work and it costs you money. Then negotiate if you must, but from the point you provide. Do not do your vendor’s job for him. Do not give away what you do not want to pay.

It is another example of wanting the other person to feel better and like you more, by weakly suggesting you will pay more than you want or can with a hope he will settle on the lower end of your range but letting him know you can pay at the higher end…Really, when has this ever worked out? Do not give it away unintentionally.