the valuable skill of negotiation
The art of negotiating is a key skill every sales Professional needs to nurture
The basics of negotiating skills consist of -
1. Plan, Plan, Plan & plan some more
Great planning involves assessing every aspect of the negotiation, from the pre-negotiation tasks to the signing of the contract.?The better prepared you are the less likely you will be taken by surprise & sign a bad deal.?But - don’t get do bogged down so much you don’t get to ACT.
2. Successful negotiations create win-win situations
A successful business deal should never be a competition. A true negotiator is able to broker a winning solution acceptable for both parties.
3. Know your Customer
Thoroughly research your Customer & their business before entering into any negotiation. The more information you have, the better you are pre-armed.
4. Know your competition & your Customer’s competition
Chances are your Customer has looked at your competitor offerings as well & is looking for the company that best meets their needs.?
Therefore you need to know what your competition can offer them, enabling you to differentiate your product from theirs.?
This is what empowers you to make it impossible for a Customer to claim a competitor can do X, & what can you do to match that.?
4. Know your limits
Of course it is important never to sign a bad deal.
Therefore, it is crucial to understand your limits to prevent that occurring.
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6. Use deceptive tactics carefully
Ok, let’s get this straight - behaving unethically will only come back to hurt you & your company & is NOT what I am inferring. ?
But some deceptive tactics are just part of the negotiation process.?
It is never a good tactic to share all your information at once.
By telling out your whole offer, you have lost all ability to negotiate.?
Holding that information in reserve gives you room to forge that win-win deal.
?7. Use emotions
We all buy on emotion. So, work your Customer up.
Through the use of the 5 senses, build a picture of the desired outcome for your Customer visualize what benefits your odder & deal will bring to his business.?
8. Know your power & knowing how to bring it about
Your power, is in your ability to bringing about a winning solution, from which, your Customer - & you company - can both benefit.
The moral of a great deal -
In business, you DON’T get what you deserve, you get what you negotiate