Negotiate to Close
Negotiate to CloseNegotiate to Close
How to Make More Successful Deals
In this book the author uses the salesperson relationship of the buyer and seller to discuss negotiation. The author identifies the sources of power that a seller has when negotiating, and the tactics used by buyers to get what they want. Recognizing these key points allows sellers to become more effective negotiators.
According to the author, power is what you think it is. If people think they have power, they will even if they don't. Alternatively, if people don't think that they have power, they won't even if they do. There are several sources of power that a seller has that will strengthen their negotiation capabilities.
One source of power is that which your competition gives you. It is important to recognize that competition can work for you and that buyers do have limits. Buyers will not consider using a competitor because of a product not being reliable, of a dislike for the organization, or of the price of the product. A second power that a seller has is the power of commitment. You will have power in the negotiation process if you are committed to what you are selling and use the commitment of others. The commitment to your organization demonstrates your belief and loyalty in the product and the company. When you have others committed to your product, they will stand behind their own words. A third power is the power of wooing. The sellers ability to woo his client shows the client how much his business is appreciated. In taking the added steps to show the client that you want their business, and not need this business, you will gain power in the negotiation.
Another power that can be useful in acquiring your needs in the negotiation process is the power of risk. The willingness to take risks is a very important power to you but when you don't take calculated risks, this power can be harmful. By accumulating knowledge about the client and their needs, learning about your competitors, and gaining knowledge about your product and company, you can minimize your risk. When you analyze all factors that are important to the negotiation, you can minimize your risk factor and make take the extra steps to close the deal. Time is the most important power that sellers have. By taking your time, you have the opportunity to realize all your sources of powers. The time taken in this discovery process allows for you to negotiate your position in a more powerful manner. Negotiations tend to have many timing factors associated with them from deadlines to meeting. However, both parties are on time restrictions and sometimes these restrictions can be altered to allow more time for discovery. When time is used wisely, you will see advantages to your negotiation. Time is money,...
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