Category Archives: negotiations training
Are You Caught in a Negotiating Trap?
Here’s a common scenario: You’ve just presented your truly tailored, well researched, totally relevant proposal. The customer, who had been nodding in agreement all along, now has a strange look on her face. The change happened the minute you mentioned price.
She says your price is too high.
It’s your move. What do you do? If you start negotiating on price, trying to find a figure that she’ll accept without hurting your business, you’ve just landed in a negotiation trap.
The trap is in starting to negotiate too early, before justifying your value. This is how a lot of money is lost, either by discounting too early or by leaving money on the table.
Getting pushback on price is a common occurrence for sales professionals. That’s why it’s important to recognize the negotiation trap and learn how to avoid it.
First, don’t start off trying to resolve any immediate price objections; focus instead on justifying the value of your proposal.
Consider the objection as an opportunity to learn more about the customer’s situation. Where does the objection come from? Is the customer at the end of a budget cycle? Would splitting payment over two cycles be workable? Or, would changing delivery options add value?
The point is, you need to understand what the customer is trying to accomplish so that you can determine which terms are most important. This can be more » Continue Reading.
How to Spot an Adversarial Negotiator
Asymmetric warfare is what military and defense experts call it when an adversary seeks to attack where you are weakest. An enemy weaker than you will often use this method as part of the idea of choosing the battlefield. In military affairs, this is a smart idea. The military’s goal is to defeat resistance. The win-win, the mutual accommodations, of effective negotiations only then can come.
Consultative negotiations, seeking win-win outcomes, following a certain structure — not a precise ritual or Kabuki theater-style performance, but a series of phases that usually occur in a certain order. Below is a quick guide to help you structure this process by understanding what to do at each phase of the win-win negotiations.
In today’s video blog, David DiStefano, President and CEO of Richardson, shares some of his best executive practices for participating in and improving the environment of negotiations.