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How many times have you heard, “You’ve got to drop your price by 10% or we will have no choice but to go with your competition?” Every time you hear a statement like this, you’re in the middle of a difficult sales negotiation. How you handle that negotiation will determine whether or not you close the sale and how profitable that sale will be.
Here are four key steps that will greatly improve your chances of making the sale without giving away the store.
- Be prepared for a price negotiation but don’t lead with your wallet.
- Think like the buyer.
- Be brutally honest with yourself as to what your added value is really worth.
- Be aware that the negotiation starts when you say hello.
The choice is not either you negotiate a good deal or you have good relationships. You can have both. You can really negotiate hard over money and other issues, and still come out with a total and complete win-win.
Successful negotiating can be about big successes, but it is primarily about adding up lots of little successes. If you can consistently improve your results by 1, 2, or 3%, ultimately that adds up to huge increased profitability for your business.
Silence can be a very effective negotiating tactic indeed. This article will help you to use silence effectively when you are negotiating and also show you how to defend against it.
Authority limits is a tactic that can be used in many ways. Here’s how to use it and how to counter when it is used against you.