Have you ever been in a situation that you disagree with the encountered price? I believe so, most of us have. At this point you have entered into a negotiation. However, some people are afraid of having a discussion regarding the selling price and the reason for that is you are not fully prepared for the situation. Even though for a lot of people they do not see it that way, negotiation is a very important aspect in our daily lives. In fact, in a simple talk with your child to get him to clean his room, you are already negotiating.
The applicability of a negotiation happens in this simple example, but it also happens in the professional business world.
Negotiation is the key to business success. Being able to achieve profitability means a good job has been done in negotiating. There are many tips that can be followed to be successful in this area of business. Here are the three most valuable tactics for getting the desired result.
Firstly, be honest with customers.
– It is important that the salesperson is knowledgable and can speak honestly in detail about the product and the sale. In “Selling Sucks” by Frank J. Rumbauskas Jr, this opinion is also stated in the sentence, “Prospects are used to liars and are so amazed at hiring honesty from a salesperson that they will jump at the opportunity to do business with that person”.
– Set realistic expectations with your prospects. Whenever customers ask for any kind of requirements, act honestly and do not make promises that you cannot keep. Acting this way will increase the likelihood of closing the sale.
Secondly, do not take negative behavior personally.
– Always put the result of a sale in perspective. Salespeople should develop a mindset in which every time they get a “no” as a final answer, they should look for the reason why the sale did not take place. Was that a mistake of the salesperson, or just a poor fit for the customer?
– Salespeople that are able to achieve this mindset, are never out of the success path. Failure is the halfway mark on the road to success, not a destination to be avoided. If you fail, you are not heading the wrong direction, you are actually getting closer to becoming successful.
Thirdly, be willing to walk away.
– Negotiating can be a long, arduous and demanding process. It is very important that salespeople do not get too attached to any specific result. Be less worried regarding the outcome. This attitude will most likely work in your favor.
– Approach the negotiator with an estimate of how much you are willing to pay. If the desired amount is not possible for any given reason, you should have no regrets in walking away. It is important to remember that some of the best deals you will ever make are the ones you did not make.