Some individuals look upon negotiating as an unpleasant and stressful chore and, as a result, get the short end of the bargain. As you know, successful negotiations may result in improved bottom-line, promotion, or increased budget.
So, before you sit down to negotiate with your prospect, you should keep three important points in mind:
a) The maximum amount you can charge. That’s the highest figure you can request without blowing away your prospect.
b) The minimum amount. This is the lowest figure you would settle for.
c) The goal. Now I am talking about a realistic figure you have a good chance of getting. Usually it’s between 50 and 75 percent of the maximum figure.
When negotiating, go for your goal but be always prepared to accept any offer between the minimum and the maximum. Sometimes, the maximum can be approved without any argument. But in certain cases, your opponent will not even grant you the minimum.
I hope you will be able to improve your negotiating skills by following a few simple suggestions below.
- Make sure you are in control of the situation
What you need to do is set the guidelines by saying: “Before we begin, I would like to go over the situation as it stands and outline what we need to accomplish here.”
- Don’t get bullied into a negotiation
If you are not prepared, don’t be afraid to say to your customer: “I am in the middle of a rush job and I have a meeting coming up. I will call you back tomorrow to discuss the details of our project.” This way, you will have more time to prepare and plan your course of action.
- Gather all the Facts, Statistics, Case Histories, etc.
One well-known marketer maintains that printed evidence is especially potent. I couldn’t agree more… Oftentimes, people are skeptical of oral arguments but assume that words that appear in printed articles, books or reports are accurate and true. Don’t forget to highlight or underline key facts to make them leap off the page. I know from experience that people who have the most facts are more likely to succeed in debates or negotiations.
- Don’t Be Hasty
In my opinion, it is okay to accept a certain degree of ambiguity during your negotiations. If 90 percent of the issue is resolved, and your prospect is beginning to grow restless, you may let the remaining 10 percent go for a while. Don’t insist that every last detail be buttoned down that day. You may end up losing the ground you have gained. That said, don’t start giving in to your opponent just because you feel tired and are ready to go home. What you can do is sum up where you are so far and suggest wrapping it up
in a future session.
- Remember That You are Dealing with Human Beings
You will have an edge only if you learn as much as possible about your opponents before you sit down to talk. Make sure you understand their personalities, needs and all the challenges they are dealing with, and adjust your “sales pitch” accordingly. For example, top executives are extremely busy and usually want to get to the bottomline in a hurry. When responding, show some sympathy or genuine concern by saying: “I understand how you feel”, “I agree with most of that, but…”
- This isn’t war, it’s a negotiation!
When most of us think of negotiating, we assume one of two things will happen: either we will win or we will lose. The truth of the matter is, a successful negotiation is one in which BOTH sides feel like winners. You may score major victories but concede small points.
Last but not least: nothing is unchangeable and everything is negotiable. Knowing this fact is a powerful advantage in bargaining.
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About the Author:
Angela Kambarian is a President of Essential Communications in Long Beach NY. She provides marketing consulting and writes powerful results-driven marketing communication materials for different companies, organizations and entrepreneurs. For more information, please visit her website at www.kambarian.com
