As of today we have 77,, eBooks for you to download for free. No annoying ads, no Selling & Negotiating Skills for Entrepreneurs - Start your own. Negotiation Skills Making the Most of Every Sales Opportunity Excerpts from articles and . For the last 40 years Scotwork have been examining one method by which we steer our way through inevitable conflicts, the art and skill of negotiation.
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Getting to Yes: Negotiation Skills & Strategies - Kindle edition by Katie Lenhart. Download it once and read it on your Kindle device, PC, phones or tablets. Claim your FREE copy: Improve Your Negotiation Skills Prepare to Win Even the Toughest Negotiations. Dear Business Professional,. Sam's story says a lot. Real-Deal Negotiation. Discover what Scotwork negotiation training can do for you. Real Deal Negotiating. Negotiation Skills Capability Survey. How does your .
Looking at the customer or prospect communicates confidence. Trust, Time and TacticsTrust The more trust you and the other party have in each other, the less need there will be to negotiate. The risk is in knowing whether the trust is real or perceived.
Trust only comes through time. To gauge the level of trust you have established, consider what the other person has told you about their company.
The more they tell you that is not known by others, the more trust they have in you. Perceived trust is blind and will get you in trouble very quickly. It often comes when the other party is a good communicator and is easy to get along with. If time is of the essence to you, do not allow the other party to know what your short lead-time is because a good negotiator will use it to their advantage.
The number and type of tactics a person will use is in direct proportion to the lack of trust they place in others. When youre in a selling situation where you feel you must negotiate a better offer to seal the deal, do so by discussing things other than the price. Do not get in the habit of discounting your product or service. By doing so, youll risk future profits and reduce your immediate cash flow. What is the ultimate gain the personwith whom you are negotiating wants?
When you know this, you then have the power to alter your offerto capitalize on their expectation. Where does your power lie? Where else can power be found? What do I need to do? Price Discussion: When faced with resistance to price, offer the customer an exam- ple of where they spend considerably more money on something else.
By doing so, the customer will begin to put into context the amount youre asking them to spend with you. Avoid Negotiating Over the PhoneAvoid negotiating over the phone. Use it as a means of introducing, following-up, or confirming infor-mation. A phone call, however, is an excellent way to introduce a new idea upon which you would like toreceive some feedback. Many times, it will allow criticism to be gained in a less threatening mannerthan if it were to occur in a traditional sales call.
Confidence Sells! Recently, I found myself dealing with a retail salesperson who was attempting to explain to me thebenefits of the item I was looking to download. As I stood there listening to him, I was struck not by whathe was saying but by how he was saying it. Needlessto say, I wound up leaving the store without downloading anything. Later, I found myself reflecting on the salesperson and the struggle he had making a sale. He clearlyknew what he was talking about, he was able to respond to my questions and, on a couple of occa-sions, he elaborated far more than was necessary.
Retail sales is all about providing the customer with an experience, and that experience must includehaving confidence in the salespeople. In my case, the salesperson had product knowledge but notsales knowledge. After thinking about it, I realized that every question I asked was to help me gain theconfidence that he failed to initially convey. The problem was that he viewed my questions as mydesire to know more about the item, when, in reality, I just wanted some assurance in the download Iwas thinking about making.
In the end, we both ended up wasting our time. Store managers need to take the time with every salesperson to teach beyond just product knowl-edge.
All new salespeople can benefit from being walked through the entire sales process in a man-ner that allows them to build up their self-esteem. Store managers should challenge themselves tobe committed to regularly instilling confidence in each of their employees. In the end, I decided that I probably would have downloadd the item if I had been dealing with a con-fident person who was not quite as knowledgeable.
Salespeople need to learn to be self-assuredand proud in the service they provide to customers. Negotiation Checklist to Ensure a Successful Outcome1. Never negotiate with anyone who is not qualified to negotiate. Always have room to give something the other person will deem as a perceived benefit. Know when to walk away and be confident in doing so. Know at least 5 things the other person wants that you can offer.
Know at least 5 things you can say that will discount what the other person is offering price not included.
Always treat the other person with respect and dignity. Negotiate over things and services, not personal matters. Never enter into a negotiating process until both sides are clear on what is being negotiated. Only move to a negotiating phase if you are unsuccessful. Always put the negotiated outcome in writing immediately. Do not leave issues open for further discussion. Upon reaching an agreement, thank the other party, but do not celebrate.
Creating Bigger Solutions that Satisfy Both PartiesKnowing the needs and desires of the other party allows you to present options that can and will be ofsignificant value to them without costing you anything. Listen to what the other person is saying. Statements You Can Make: What It Can Mean to You: What is it I really like about my accounts? What is it my accounts would say they really like and appreciate about me? What is it my accounts say they like about my competitors?
Would my accounts say I am or am not a valuable asset to them and why? Do I really know what the objectives are of my accounts and my prospects? When accounts leave me, do I know really know the reason why and what am I doing about it? What are the top three reasons why people do business with me and how do I know this?
What are the top three reasons why people do not do business with me and how do I know this? What are the elements of my sales call that really go well and what areas do I have trouble with and what am I doing about these?
What is the really big objective I need to accomplish to grow my territory? What is keeping me from accomplishing my big objectives? What are the things I do each week that do not help me build my territory? What do I need to do to put passion into my job and to convey passion to my accounts? How many referrals do I get each year from my accounts and what do I need to do to get more referrals?
What things am I no longer doing that at one time were the things that made me successful? If I were to lose my biggest account, what would I need to do to replace that business? How really determined am I to making my goals? What are the things I do or the questions I ask that really get my accounts talking? Do I know the difference between a prospect and a suspect? What are the five things I would tell a new person I was training they would need to do to be in- credibly successful?
What is the average number of sales calls it takes on a prospect to convert them to a customer? Is the number decreasing or increasing? What is the profile of the key decision makers we deal with? What is the profile of a perfect prospect? What do I need to do to make one more sales call per week?
Uncover New Benefits: After people have had time to experience the product or service youre selling, they often begin to realize benefits they werent expecting. Talk to your long-term customers and find out what additional benefits theyre experiencing. You may find it advantageous to use these in your future sales presentations.
However, I believe that although these skills are helpful, theyare not essential. In my opinion, to be a top-performing sales professional, you must be a great leader.
It is a fundamental character trait. What is a leader? Leaders are people who empower others to do seemingly impossible things, whetherindividually or as part of a group. They help people see issues and opportunities they would notnormally see themselves. Most importantly, they instill a level of confidence in people that compelsthem to be pro-active in dealing with situations they otherwise would be hesitant to handle.
These leadership traits are essential for top-performing salespeople to exhibit in their jobs on a dailybasis. By demonstrating these qualities to your prospects and clients, you are communicating yourvalue to them. Salespeople who seethemselves as leaders are far more likely to provide the client with the services necessary to help themachieve their long-term goals.
Top-performing salespeople understand how positioning themselves as a leader can further theirsuccess. Since the easiest way to increase your profits is to sell more to an existing customer, it onlymakes sense to display leadership to them. In addition, because the best new clients often come fromreferrals, your existing customers will be much more apt to confidently recommend you. I firmly believe that the higher the degree of leadership in asales professional, the less time spent on closing the deal.
Similarly, the opposite holds true, and theresult is a loss of valuable time. Begin today to set yourself apart from the competition by positioning yourself as aleader to your employees, your clients, and your prospects. Never allow the negotiations to become personal. Think how to make the outcome a bigger win for both sides. Assumption Closing: Never assume you wont close a sale.
When you receive the first downloading signal from a customer, use the "Assumption Close" by making the following type of statement: Think of the long term. Agree on SomethingNever end a sales call without having agreed with your customer on something, even if its not toactually close the sale. The objective of coming to an agreement, no matter how small it might be, isto demonstrate to the customer that youre able to move the sale forward.
If possible, agree on oneparticular aspect of the sale and use this as a building block for the next time you meet. However, ifyou cant see eye to eye on a particular aspect, you may be able to concur on the items you intend tofollow-up on or a time to get together again. The important thing is that you agree on something anduse whatever it is as a "next step" towards a future sales call.
Negotiation Techniques: Commonly Used TacticsThese techniques are provided to allow you to understand what a trained negotiator may use against you. The keyis to be able to spot a tactic being used on you and know how to counter it. Never attempt to use the same tactic multiple times with the same customer. Remember that with anynegotiation, your integrity is in play.
The positions you take and the comments you make will directly reflect onboth your integrity and the perception people have of you.
Lower Expectations: Trial Balloon: Take Me to Your Boss: Mentioning this will often encourage them to close the deal with you right away. My Boss is an Ogre: Time Pressure Act Unpressured: Negotiation is also a dialogue intended to resolve disputes, to produce an agreement upon courses of action, to bargain for individual or collective advantage, or to craft outcomes to satisfy various interests.
It is the primary method of alternative dispute resolution. Negotiation could be defined differently, it depends on the subject. Political negotiation, cultural negotiation, business negotiation etc.
Negotiation occurs in government, legal proceedings, in personal situations and in everyday life. Casse and Deol identify three types of negotiation 1.
Disadvantage is however, those who have to give up something may get frustrated; this might lead to a lack of commitment to the final decision 1. This leads to motivation and commitment. Disadvantage is however; sometimes irrelevant elements are included in the decision that can make the outcome of the negotiation weaker and more questionable. Disadvantage is however, this requires a lot of time as well as a high level of flexibility, and open minds. Some cultures will spend long time on building relations and getting to know the other partner while other cultures get down to business straight away.
They do not value interruptions during the negotiation. A classical example of this could be found in some villages in Africa and Asia where an elderly guy is the Chief of a village.
He decides within the whole village what to do, how to tackle the situation or who will do what. In dissimilar cultures, negotiation is further complicated.
Negotiation Styles: The review of negotiations reveals the style a negotiator utilizes is generally grouped in three types: competetive, collaborative and concession.
The competetive style is also referred to as contending, distributive bargaining or claiming value. In the concession one party reduces their position to the gain of the other party.
Below is the illustration of all styles.
New creative approach : The most famous negotiation parable involves an argument over an orange. The most abvious approach was to simply cut it in half, each person getting a fair share. But when the negotiators began talking to each other, exchanging information about their interests, a better solution to the problem became obvious.
The person wanting the orange for juice for breakfast took the necessary part and the person wanting the rind for making marmalade took other part. Both sides ended up with more.
This story became a story of creativity when both parties decide to cooperate in planting an orange tree or an orchard. The similar approach could be used in many different sectors and it had been used in the past.