Successful Negotiation Techniques

Whether we are working with prospects or long-standing customers, negotiation is a very real element of the buying process for many of us. Successful negotiation does not only mean meeting your clients in the middle between your price and theirs; it can involve creative thinking, addressing issues standing in their way, building a stronger relationship, etc… So, here are some key points to know to increase your chances of being successful in any negotiation.

Theory: The “Barter Story”

You own an apple orchard.

Your neighbor owns an orange grove.

You approach your neighbor to make a barter or trade … your apples for his oranges. In this scenario above Who is the buyer? Who is the seller?

The answer is … Neither. And as a result, neither has more leverage than the other, neither feel the pressure.

However, if one takes the same scenario but replaces his oranges for cash, suddenly, you are now the seller and he’s the buyer and much of the leverage moves over to him. Why is that? Is it not just a barter still? Aren’t you trading your apples for his cash in an equitable manner?

Think of the act of selling like the act of making a ‘trade’ or ‘barter’. This will impact your attitude right from the get-go. To successfully start negotiating, think of your discussion like two people coming together each wanting to make a trade.

A “formal” negotiation at the “11th hour” may be too late because their perception of your offering is likely already set.

The Process:

The People: