Negotiating for a Win-Win

Submitted by Mitch Seigel on Tues, 03/27/2012

If you are in tune with your client’s expectations and needs, you should actually be able to negotiate for them as well as yourself. Sounds crazy, but it’s true. Anticipation of a conversation, supported by preparation, can lead to quicker and more accommodating agreements.

It all begins the first time you talk with your prospective client. After multiple conversations, if you feel comfortable with your knowledge about your prospect, you can plan where you can give a little in negotiation, and what you must absolutely get in a an agreement.

In many cases not enough thought is given on either side of the table, leaving countless opportunities up in the air. Or one side settles too much and it becomes a win-lose agreement, which generally doesn’t last very long. Worse than that is a lose-lose agreement where both sides feel they didn’t get what they want, and any chance of a future relationship between the two parties is ended on the spot.

Like most parts of the sales process, it’s all in the preparation. Do your homework. Use contacts who can give you inside information. If you don’t have the resources internally, use the internet to get some good facts that will carry weight when it’s time for the discussion. Most of all, know what you can or cannot do on your side of the table.

If you have your prospects business in mind during the sales process, as well as the needs of your company, negotiating is painless and should never reach confrontation.

What are your challenges when it comes to negotiating? I look forward to hearing your comments. Until next time …