Category Archives: Sales Negotiations Training
Successful Negotiations: Why it’s Critical Not to Lose Sight of the Big Picture
“Are we negotiating?”
That succinct bit of dialogue from the 1997 movie “The Devil’s Advocate” serves as a good reminder for sales professionals to heed when selling to prospects or existing accounts. Don’t take for granted that it is a mere formality or confined to the period leading up to inking an agreement. You are constantly negotiating and should not only realize this, but practice their approach.
Negotiating is certainly about prices and fees, but also about so much more. What’s negotiable? Pretty much any aspect of a sale can be negotiated from delivery date, warranty, and payment or service terms to product features, account team, and the like. What’s important to realize is that each bit of dialogue and revelation throughout the sale process enlightens both seller and buyer alike with information that will influence this deal – or the next.
Building Confidence in Sales Negotiations by Understanding the Role of Power, Time, Information, and Skill
Four basic elements determine how successful you will be in negotiation. These four factors are: power, time, information, and skill.
Power is not what people might think. Power might be best defined as the ability to accomplish things — the ability to do, not necessarily the ability to order things to be done. Power is a state of mind. It is a multidimensional concept that involves how you think, feel, and act. Power is not related to position. If you think you have power and project it, you have it. If you don’t, you don’t. Power is confidence. If you feel powerless, you cannot be an effective negotiator. You will communicate your lack of confidence.