Negotiations: Winners

posted: Friday, May 10, 2019

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Many sales are completed with products being purchased at predetermined prices and any and all add-ons completed at prices in addition to the original sale. These sales generally do not require the finesse of negotiation, merely scan the UPC codes and the computer generates the dollar amount of the sale. Period.

For some sales, in other industries, negotiations are an integral part of the transaction. For these types of sales, bargaining skills translate directly into income dollars. Finely developed abilities make this component of completing the deal a low-stress venture!

  • SOLUTIONS: Many people view the negotiations process as an exercise in finding solutions for price vs. value. The goal is to find the perfect balance of price vs. value through a sense of fairness and compromise. When the people agree on the worth of an object and its financial implications, that outcome is balanced. At times, discussions of the merits of the object as opposed to the payments for it may require considerable debate on both sides. As a salesperson, it is important to use the information available to push for the greatest payment, while the customer is often more concerned with the value per dollar of investment. Keeping a sense of fairness to yourself and satisfaction for your buyer makes reaching those agreements faster and easier.

  • PATIENCE The ability to relax and allow the process to work may take a while. Rushing a negotiation to conclusion upsets the price/value balance and either one of the persons involved in the negotiations ends up feeling dishonored in the transaction.

  • COMMUNICATION Being open to continued discussion for find that sweet spot of transaction balance, not pushing toward a specific outcome keeps everyone's options alive. If the communication bogs down, it might be a good time to review the progress that has already been made. Are there objections that have remained unanswered? Are there different options that could be discussed? Taking a pause to carefully check in with one another can often resolve some unspoken issue so that the process can be concluded to everyone's satisfaction.

  • TO THE PLUS SIDE Every effort needs to happen to keep the entire conversation positive and productive. Stubbornness and negativity do nothing except start a reputation (about YOU and/or your COMPANY) for being stubborn or negative. Every time a negotiation looks as if it could go south, take a step back and consider the big picture, then create the Win-Win for you and your customer!

  • GROW At the completion of every negotiation, it is helpful to examine the successes and the areas for further development. Give yourself the best opportunity to grow your skills with this component of the sales process through self-examination, role-playing, and conversations with your sales managers. Whatever it takes, commit to gaining smoothness and calm in the negotiations game!

FINAO - Brad Huisken

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