Negotiating is a skill you can’t afford to be without. Whether you’re buying furniture or accepting a job offer, knowing the right things to say could save you a fortune. Here are some killer insights I picked up from reading Roger Dawson’s Secrets of Power Negotiating.

Always ask for a bit more than you would expect. You never know: the other person might be willing to give it. Starting with a favorable figure makes you seem cooperative when concessions are made later. But asking for too much can make you look detached from reality.

Never say yes to the first offer. This can have two negative effects. 1) The other person will think they should have offered less. 2) They’ll take your eagerness as a sign that something is wrong (i.e. you’re desperate). Both of these reactions can sour a relationship.

Don’t reveal your bare minimum upfront. Some people like to cut to the chase by giving an inflexible figure, but this costs you wiggle room and is unlikely to be effective.

Respond to an offer with surprise or reluctance. This is an effective way of tilting the balance in your favor. But don’t get confrontational, as it backs the other person into a corner and they’ll want to prove you wrong.

Here’s how to put someone in a vise: “You’ll have to do better than that.” Without adding another word, the onus to concede is now on them. If someone pulls this technique on you, respond with: “How much better, exactly?”

Stay composed. If you lose your cool, you’ll lose the deal. Try the FFF formula (feel, felt, found). Acknowledge the other side’s feelings, state that many others have felt the same, then add: “But I have found that [insert reasonable argument].”

Do you have “walk away” power? The moment you can’t walk away from a negotiation, you’ve lost any advantage.

Never say “Take it or leave it”. This rubs people up the wrong way and risks souring any potential deal. Instead, try something like: “Sorry, anything less than X and I’ll have to back out.”

Ego often gets in the way of a good deal. Don’t shoot yourself in the foot by pushing too far; try to give back a little something so that the other party doesn’t feel like a sucker.