First post, some Negotiation tips:
In life, you will find yourself in a negotiation position whether you like it or not. Since this is pretty much unavoidable you better learn how to become a master negotiation. Recently, i read a book about this and i wanted to do my first post about this as well.
Preparation is always key, it’s the most important thing before you do a pitch or do a presentation. Don’t just gunsling. Why walk in into the ring like a unprepared amateur when you can walk into the ring like Mike Tyson?
I definatly want to show up as Mike Tyson.
So, now that we gone threw with that. Let’s get down to business:
First technique: WOW??
In negotation, ask for the price of the product. It doesn’t matter if there is a price tag or not. When you hear the price you scream out “Huh?? How much?” And sound C H O C K E D. This is a good point to start the negotation from.
Always now before the negotiation how much you are prepared to give.
Always decide these 3 things before any negotation:
- What price are is your dreamprice? (Best possible)
- What is an OK price to get? (Most likely)
- What is the lowest price? (Any price under this you walk away)
Decide this, and just stick to it. I promise you this will help you a lot in negotiating.
Some ground rules:
- Never be the one that says the price first
- When negotiating, start by requesting a high price. If the other part counter with 50% of what you originally said, it’s easy for you to say “OK, let’s meet halfNhalf at 75%.”
- Urgency, always make the other party feel that there is a lack of time. Maybe the Products is going away? Maybe you are taking vacation. Feel free to say whatever you want but make sure that the other person feels that urgency.
- Provide as much 3rd party data as possible to back your statements. (This isn’t just a ground rule for negotiating but this is also key for selling.
Hope you enjoyed this simple post.