The Art of Cutting a Deal

Sales negotiation is a very important skill for a sales person. Being a good negotiator can easily differentiate a good sales person from a great salesperson. A great sales person knows how to effectively negotiate a deal that gives them the best possible outcome, or at least a much better outcome than they could have gotten otherwise. There are no hard and fast rules. However, there are some important thumb rules that can help you to become a better negotiator:

• Be Prepared:

Negotiating takes determination and preparation. Figure out what objections you may face during negotiations and be ready with questions to overcome them. Understand the person who you will be negotiating with, which will help you predict potential objections. See the objections from their point of view. Have an ample knowledge of them and their business. Be ready to give a counter proposal.

• Be Flexible:

Everything in life is negotiable. Make sure you don’t allow yourself to get stuck. Focus more on the solution and less on the problem. Sometimes people think they know what the other person is thinking and they often like to decide the outcome for others. You wouldn’t know whether the answer is yes or no until and unless you ask them. It is simple. It is all about what you are willing to give and how much you need.?

• Be Straightforward:

There are a lot of opportunities out there but you miss them if you don’t ask for them. You have to meet your needs without having any preconceived reservations in asking for it. You will never get it if you never ask for it. However, be aware as to not be blunt about putting across your perspective. We often get through to our listeners much better by being sensitive and polite in the way we express our points of view.?

• Listen More:

Ask more and more questions and get answers for it. The control over the way conversation goes is in the hands of the person who is asking the questions. As you wait, get used to the silence. The questions are of course important but the wait for the answers is even more important. There is a reason we were born with 1 mouth and 2 ears.

• Read:

Sometimes negotiations require paperwork which is to be signed by you. Before you sign the negotiation papers make sure that you read it carefully and understand it. Ask for help, if you find it difficult to understand legal terms while you are reading. Sign it once you understand it.

Some people start thinking that “What am I gaining from this?” Remember, whoever you are negotiating with is thinking the same as you are. Show them how much you care, asking questions shows how much you care and that’s when they start listening to you. Don’t focus on defeating the other person and winning the negotiations. As Dale Carnegie said, “Each party should gain from the negotiation”. Focus more on how you can end the negotiation with a win-win result. Every negotiation doesn’t always need to have a winner and a loser. Work on solutions which benefit both parties.