e-Nagar

This tactic is supposed to be used only when you have an upper hand. If a weak party calls for an action then it is likely that the reserve price is not reached and you will be screwed/have to call for an re-auction.
You call in multiple buyers/seller together, then explain them clearly your proposal and pitch then what are the likely benefit etc . And them ask them to outbid each other.
Normally people are competitive and in the heat of the moment loose tract of the difference between object and desire. In such a scenario there is a high likelihood that the sight of loosing onto this coveted object makes the party to enter into a pyrrhic war. (quote a price which is way beyond what the party can afford)
This tendency is often more seen in case of a Dutch Auction. Where the buyer has to pay not the price he/she quotes but the next best offer. Hence there is an incentive to quote higher price. No wonder RBI these days does all its auctions via this mode.

Got this advice from Karthi

and also this gift from him.

It is always good when you sign a contract, to have an in-build profit sharing model.
1. It builds trust. The other party realizes that you are willing to put in your money where your mouth is
2. It shows you are honest and not only trying to make a convincing sales pitch
3. Since you share the loss in case your product and services does not yield the desired effect, you in effect share the risk with your buyer.
4. There is an incentive for performance. Hence it is always seen that the products and services delivered under profit sharing model are superior.
5. You can also help manage the decision making bias: i.e. the seller always thinks more highly of his product than the buyer. Hence even though you think your product will result in a 100/- of profit (and want to charge accordingly) the buyer rarely would perceive the value to be 60/- and would like to pay you accordingly.
6. Since a revenue/risk sharing contract has higher element of trust, it is very effective when you are planning to pitch an innovative and new design/idea/concept, something whose results and effects are hard to measure beforehand.

Most of us when check the rates at makemytrip, yaatra and othertravel websites and book the lowest possible fare. However these websites often do not do an exhaustive search of the various airline options available esp PSU airline like Air India express.

A friend of mine could book a delhi to lucknow flight at 1195/- at Air India Express. Whats more that it is a fully refundable ticket because the airline has a policy of fully refunding taxes and surcharge. Also the flight takes off at international terminal. So he can stop by at the duty free shop and buy some discounted liquor
All this because he used a lesser known search engine easytrip

A comparable flight at jet light (next best option) would have a charge of 100/- as passenger ticket and 1700 as taxes and surcharge. = 18000 (almost 50% more expensive)

If you guys know of any other airline or search engine that could help me cut down my travel cost, please let me know.

The two lesbians who live next door gave me a Rolex for my birthday. That was nice, but I think they misunderstood me when I told them, “I wanna watch!”

As Pat Paulson once said, “All the problems we face in the United States today can be traced to the unenlightened immigration policies of the American Indian!”

Thought For The Day: No job is too difficult when you don’t have to do the work!

A well-respected surgeon was relaxing at home one evening when the phone rang. He answered to hear the familiar voice of a colleague on the other end of the line. “We need a fourth for poker,” said his friend. “I’ll be right there,” answered the doctor. As he put on his coat, his wife asked, “Is it serious?” “Oh, yes, dear. Quite serious,” said the doctor gravely. “In fact, three doctors are there already!”

From my interactions with industry and a couple of consultants, here is the list of reasons I could list out why consultants are hired:

1. Because it is fashionable to do so: Till about a decade or 2 ago, forming a committee was the managements way of assuring the rest of the world that the problem at hand is being dealt seriously by professionals. Today this role of committees and action groups is being replaced by Consultants and scores of PSU and govt bodies are hiring them.

2. There are a lot of tasks which are important, but are do mundane and distasteful that management is unable to find anyone in the organization willing to undertake it.
Eg: downsizing.

3. Reassurance and rally support: The promoter or the CEO wants a certain course of action. However he wants to look professional. Hence the consultants are hired and they need to find 101 reasons why that brainwave is good.

4. Cover Your Ass (CYA): It is easier to blame an external body for any ill advice in case the project fails rather than shoulder the blame yourself. Hence consultants double up as the fall guy

5. Resolve a Dilemma: Imagine a scenario: CEO with is 20-25 years of experience is clueless, the Board of directors are perplexed and the functional heads of the departments are unable to make up their mind about how to resolve a problem at hand. Here comes a bunch of blue eyed generalists who have no idea of what you do or what you want, yet they solve your problem.