Nonstop Sales Boom: Powerful Strategies to Drive Consistent Growth Year After Year by Colleen Francis

Author:Colleen Francis
Language: eng
Format: mobi
ISBN: 9780814433775
Publisher: AMACOM
Published: 2014-08-12T14:00:00+00:00

You must be told you are the winner (proceed to negotiation) or loser (proceed to closed/lost).

The implementation phase is being discussed.

Partner agreements are complete.

An action plan with firm timelines is agreed to.

Target close date is refined.

You are guaranteed there are no other approvals or filters.

All these mean that a decision has been made. You are now ready to begin negotiating your final terms.

NEGOTIATION: BE INVOLVED AND HOLD FIRM

Submission of a final proposal is generally the penultimate step in the sales process, followed by degrees of negotiation, from a handshake to an arm wrestle. Legal departments on both sides will often be involved in the terms and conditions, and all individuals involved in the approval and signing stages are identified at this point. Note that all negotiations are not about pricing, nor do they all involve legal teams. And remember that while a negotiation indicates your deal is moving along, many deals fall apart during the negotiation if they sit too long without action. I once lost a deal due to the inaction of two legal teams. While they did nothing to move a deal to final conclusion a tornado ripped through Fort Worth and destroyed the headquarters building of my client. Six hundred thousand dollars gone in five minutes.

It is essential to manage this stage ruthlessly. Avoid abdicating responsibility for negotiation to the legal team, HR, or your manager. Of course, those teams may have to be consulted and apprised, but remember the longer the negotiation takes, the more at risk the opportunity is. Only you have the sense of urgency required to ensure the deal is moving along.

Towards the end of negotiation, you present the contract to the client, confirming the transaction path and required paperwork. The discussion of contract terms is the final piece of the negotiation stage. Let’s take a look at the most common objections you will face and a model to apply that will help you handle them successfully.

My husband, Chris, loves to negotiate. So much so that whenever I need to buy new running shoes, he always buys a pair, too, with the hopes that he can swing a “deal” with the store by buying two pairs at once. Of course, he never gets a discount, but what I find fascinating is the number of times he asks for a discount, doesn’t get it, and still buys the item at full price anyway.

I started thinking about this from the seller’s perspective, by analyzing my own negotiation techniques and those of my clients. The questions I wanted to answer were: Exactly what makes a successful negotiator? And what do they do differently from the rest of us to get the price they want, while still leaving their customers feeling that they’re getting a good deal? Thinking this way led me to the Engage Four-Step Negotiation Plan.

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