I know how difficult it is to negotiate on prices or time. I want to make a sale but what if the price is much more than the customer expects? What if they need a product sooner than I can deliver? My successes and failures in negotiating have helped me learn to successfully make sales and leave everyone happy.
Negotiation usually means conflict. How do you handle conflict? Are you aware of your temperament? You as the negotiator must learn to stay calm. Be in control of yourself – be in the front seat of your emotions and logic. If you cannot control these, you cannot control the negotiation.
Be well-versed on everything about your product or service. A customer who is interested in your product will ask many questions. Doing research on your product (and business) will help you to make that sale. Be prepared. Also, know your ceiling price. How much room do you have to barter? Don’t settle below your costs or you will “nickel and dime” yourself out of business.
Get to know the customer. This may be difficult since you may have only moments together. Ask questions that relate to your product and services and see how they respond. You may get insights on their character to figure out how you should proceed in negotiations.
After the negotiation, review the process in your mind. Rate how you negotiated. Did your price or time schedule fit your business needs? Did you control the negotiation? What did not go well? These experiences will get you into a better negotiating position the next time you discuss prices with the customer.
Negotiations Checklist
1) Know yourself – how do you rate yourself as a negotiator? What needs to change? Learn self-control.
2) Know your customer – rehearse a few lines to converse with the customer for the best and quickest results.
3) Researcher product/service, price and schedule – what are your price/time ceiling numbers?
4) What have you learned from your past negotiations – what can you learn from others who negotiate?
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