Whether you’re trying to finalize a home purchase, or negotiate a multi-year, multi-million dollar service agreement, there are some things to remember in order to keep things moving and get what you want.
Local negotiation expert Mike Milich runs SwiftNegotia with his partner Satish Mehta and they work with small and large companies alike to build better negotiation skills for sales, vendor management, and mergers and acquisitions.
I asked him recently about some of the finer points he emphasizes in his consulting and training. He said when it comes to sales remember these three tips:
- Unless there is a strong history of a give-and-take relationship with the other party, your generosity will not breed gratitude, it will breed greed and create an insatiable bear of a customer.
- In order for problem-solving to work, the other party must be willing to tell you what the problem really is. People rarely want to reveal problems when asked directly due to confidentiality or pride. Instead, ask about what they would change about a service or product. It’s easier to answer that question.
- Buyers often have bosses they want to impress. Think about how a deal can be structured to allow the buyer to say to his boss in one way or another “we got a great deal, we won!” Co-marketing or industry recognition opportunities can be very effective in this area.
No need to give away more than is necessary, or try to guess at what someone really wants. Remain collaborative, stay focused on your goals, and look for ways to sweeten the deal with time, terms or other add-ons that get everyone across the finish line.
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