Negotiations 5 – Planning to Win

Create a plan to win. Don’t go into negotiations unprepared.

Here are 5 elements of a good negotiations plan.

1. Understand what you want as the desired outcome, what you will accept, and what are the related parameters.
Understand how strong your relationship is with your customer and what is their win. And about your buyer, what is their goal? Will they try to create multiple levels of negotiating? If you give too much too early, you might have nothing left to give when you are finished.

2. Brainstorm on how you can establish value on both sides (make it a win-win), while maintaining a mutually beneficial relationship. Identify potential areas where you can give something while getting something in return.

3. Before resorting to cutting price, identify alternatives. Reduce scope if possible.
Reiterate the business issues you will solve and the value your solution will provide – and the danger in reducing the scope. You can remind them “If we reduce the scope, we won’t be able to achieve these benefits.”
Know when it is time to walk away… this can be difficult, but no deal is usually better than a bad deal.

4. Lead your negotiating session. Remember to apply Equal Business Stature (you learned this in a prior briefing). Plan the agenda and work to control the agenda. Just letting the buyer take over and run roughshod over you is a sign of weakness where the buyer will surely try to take advantage and attempt to take a huge bite out of your profit.

5. Map out your customer’s organization – who are advocates, who are neutral, and who are potential adversaries. These personalities could either help or hurt your positioning.

No matter if your negotiation is large and complex or small and simple, create and execute a plan so you don’t cave during the negotiation.

I’m DJ Sebastian, for more info on what it takes to become an Elite Seller, visit my website at thetechseller.com

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