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5 Negotiating Tactics – Number Four: Take the High Road

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5 Negotiating Tactics – Number Four: Take the High Road

In a previous post, What is Negotiation?, we discussed the Five Negotiating Tactics. This is the fourth installment of  going in-depth with an explanation of each of them. This post covers why it is important in negotiations, as in life in general, to be trustworthy and honest.

Take the High Road

 

If the other negotiator becomes argumentative, the best approach is to let them talk themselves out and simply take notes. This will keep you from getting emotionally involved and will give you time to gather your thoughts. Listen carefully and verify that you understand their position. Sometimes just this simple verification brings the negotiations closer to your position, just because you listened. Sometimes that’s all people want to know — that you’ve listened to their side of the story. It’s a powerful feeling to know that you’ve really been heard.

 

On the other hand, the argumentative negotiator may be using this as a tactic to get you to bend. Don’t. Let them talk themselves out and actively respond through verification of your notes. This reiteration of their side disarms them.

 

Remember, you’re looking for a long-term relationship here; that means finding ground where both parties can come out winners. If you sense hard feelings of any kind, attempts to break the ice and smooth the process will work in your favor.

 

Negotiations include a series of turns until finally both parties come to an agreement. Most importantly, trust must not be broken within negotiations. Things may feel strained if they’re not handled properly. That is why doing your homework and understanding both sides of the negotiations will eliminate most, if not all, of the issues.

 

Give to Get

 

Be trustworthy and honest in your negotiations. Be fair. If others are unfair to you, let them know. Don’t allow unfair treatment. This will break down the relationship, so confront the issue immediately. Generosity begets generosity. Fairness begets fairness. Unfairness brings about a lack of trust and a break down in the relationship.

 

When negotiating, if you give something away once, don’t give away anything else until the other negotiator gives you something in return. Sometimes we get nervous and think we need to keep talking, when in actuality you already gave and already talked plenty.

 

Always take turns. After you make a move, wait until the other party reciprocates before you move again.

 

Look for the next post on the Five Negotiating Tactics which will cover Closure: Putting it all Together.

 

Learn more at Entrepreneur You

 

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Categories: Business Training, Negotiation

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Sales – Selling and Understanding Personalities

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Sales – Selling and Understanding Personalities

Understanding Two of the Important Personalities
You are Selling To

 

While these important players may have different titles or no title at all, it is critical to establish the relationships to solve their issues or problems. This is why you are there.
 

The Driver: The Business Owner or CEO

 

This person is like the lighthouse, guiding their company through the rocky shores of the business world. The Driver wants to know how your solution fits into the big picture of the company. They’ll make their decision based on bullet points of information, so don’t bother them with the details. Usually they’ll have someone else analyze the fine points of your product anyway. When you’re working with the Driver, give them your concept, your value proposition, and why your product or service will alleviate their pain. If you can show the Driver why you can solve their problem, then you’ll have a sale. But that means observing their personality type.

 

If you walk in that door with the wrong approach — say you’re all chatty or making too much small talk about things that have nothing to do with their business or him or her personally, then you might as well stay home. Do your homework before you walk in the door. If you don’t feel that you know what the Driver is looking for, then be prepared to ask high gain questions that will make the difference in your ability to close the deal. These high gain questions will give you the credibility you need to make the sale.

 

The Analytic: CFO, Accountants, Engineers, IT

 

The description alone pretty much explains this person. The Analytic wants all the details. Again, when you walk in the door, no messing around. Of course in all situations you want to develop rapport, but not too much small talk. The Analytic wants to know why you’re there. Can you increase their bottom line? Can you decrease their cost? Do you offer a higher quality product than what they already use? Their job is to analyze all the options, so be prepared and have ALL your facts ready.

 

Your high gain questions may well be the same with any of the personalities, but the difference will be in how you approach each conversation. Like the Driver, the Analytic isn’t one for small talk. You’ll gain immediate credibility by providing a lot of facts, figures and information that isn’t fluff.

 
 
It is critical in sales to understand and study who you are establishing relationships with. This information is all about helping them solve problems whether it is a small business, a corporation, or an entrepreneur just getting started.

 

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Categories: Entrepreneurship, Sales, Sales Training

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Sales | How to Sell… Inside/Out

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In this video, Holly Katko explains the What, How, and Why of Sales. How taking a
different approach to sales and selling can pay off with this explanation of
sales from the Inside/Out.

 
 

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5
JUL
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Categories: Sales Video

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Sales – Selling with a M.A.P.

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Sales – Selling with a M.A.P.

Sales and Selling

This post is an excerpt from Entrepreneur You using the final letter of the acronym M.A.P. for an explanation of a critical aspect of sales and selling.

Probe

To keep the sales call moving forward, you’ll need to develop a line of questioning. But this isn’t just any type of questioning. This is asking questions that you could not find the answers to on a piece of paper — questions that will help build your relationship and your proposal.

 

At this point, you may feel like you’re ready to jump into closing the sale and to begin providing your services or product to your client but no matter how tempting this may be, you’re not really ready yet! Realize that you still know relatively little about the client, and you need to understand them fully before you can begin to help them. Remember that the point is not to sell to them. You’re there to help them.

 

There are different lines of probing questions you can ask. You might ask simple questions that need only a yes or no response. You might ask questions gleaned from information you found on the client’s website. Or you might choose to ask questions that elicit intelligent, thought provoking answers. We will concentrate on the last group. Now don’t get me wrong, I’m not telling you to sit in this meeting and hound the poor client. There’s nothing I hate more than someone who interrogates me like a private investigator trying to get a murder confession out of me. This will put anyone on the defensive! Instead, I’m talking about developing questions that you can easily ask during the conversation and that allow you to understand the client more clearly.

 

I have developed over 100 questions for each of my product lines. Does that mean I use all of them during a call? What do you think? Of course not! But when you’re in front of someone and you get nervous, having these questions readily available is what will make the difference between you and the competition. The categories and the questions you’ll develop will follow the natural flow of a conversation. Read on to learn more.

 

For further information on the rest of M.A.P. go to Entrepreneur You.

 

This is an excerpt from Entrepreneur You.

 

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22
JUN
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Categories: Sales, Sales Training

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Sales – Assuming the Sale

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Sales – Assuming the Sale

Selling and Sales

 

I want to share with you one of the most powerful ways in the world to close a sell.

Don’t do it!

You should never have to close a sell, the sell should close itself. What do I mean by that?

 

It is simply described in one-word “assume”. What this means is to assume the sell from the beginning. Before you get on the phone, before you walk in the door – you must assume the person on the other end is going to need and buy your product or service.

 

What you want to do is open the door by assuming the sell. It all starts with self-confidence and self-confidence comes from ensuring you are at your peak capacity to absorb information. That you are ready to deliver the highest quality of information based upon your self-confidence and product knowledge. That you are in complete control of the situation.

 

In order to assume the sell, you must be aware of and deliver in the following three areas:

  • Self-Confidence
  • Preparedness
  • Visualization
Self-Confidence:

If you do not have self-confidence the following 4 areas are affected:

 

Capacity: You lose your capacity to provide or give information because you no longer feel confident in your ability to give it.

Quality: The quality of your work diminishes because you no longer feel worth and your ability to provide quality work becomes doubtful in your own mind.

Growth: If you lack self-confidence, your ability to grow and excel in the area that you are not confident in will shrink even more and you lose your ability to expand.

Control: The most critical area that affects you is no longer feeling in control of the situation.

 

Therefore, before you can move forward in assuming the sell, you must be self-confident. The next two steps in the processes will improve your self-confidence and get you to the next level:

Preparedness:

The more you know about your subject matter and the more you know about your audience and their needs and potential objections, the easier task you have in assuming the sell. You will never have to sell again once you understand the power of doing your homework and knowing when you walk in that door or answer the phone that your client is waiting for you and you will have all the answers and ability to help them with all of their needs.

Visualization:

The key that unlocks the door to self-confidence and preparedness is your ability to visualize. To begin with the end in mind. Once you visualize that the sell is already completed, the rest is easy. As long as you have brought your self-confidence to the conscious level and you have done all your homework all you need to do is visualize the sell being completed and the check is in your hand.

 

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11
JUN
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Categories: Business Training, Sales, Sales Training

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What is Sales? Part Three

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Three Areas of Sales to Know – Number Three

When I first started in business I did not look forward to sales at all – I thought sales meant you had to “sell” something to someone. When in actuality it is simply educating someone about a product or service that they didn’t have sufficient if any information on. Once a client understood how this wonderful product or service would benefit them, then they would either choose to use it or not. There are areas of knowledge that make this transition of education easier.

Here is the Third of Three Areas to Know:
Know How to Treat Your Client

Everyone wants to be treated special, so show your prospects that you care. Call them by their first names. Offer a firm handshake. Pay attention to what you see in their office or facility. And above all, let them know that you are there to help them.

Let’s assume you’ve done your homework on both your prospective new client and your competition. You can now use this information to get to the next level. When you contact your new client, you can lead with what you already know about their company and your competition. Explain to your client that you have a solution for them that they might not have thought about. Bring up one of those unique areas about you and your company that you know provides that over-the-top quality, and don’t let it go. Don’t sell, either; the point is to pro- vide information for solutions that solve their problems. If they don’t remember their prior conversation with you, well, make this one memorable. Don’t bother asking if they got your brochure, and don’t belittle yourself by saying that you’re “just checking in.”
 
YOU ARE THERE BECAUSE YOU CAN HELP THEM — SO LET THEM KNOW THAT!
 
These are three of the important areas to focus on in Sales. Do your homework and see the results!
 
These areas and more can be found in my new book Entrepreneur You.
 
In order to start your own business or maintain your current one, sales are critical to your growth and success.

 

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Categories: Sales, Sales Training

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What is Sales? Part Two

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Three Areas of Sales to Know – Number Two

When I first started in business I did not look forward to sales at all – I thought sales meant you had to “sell” something to someone. When in actuality it is simply educating someone about a product or service that they didn’t have sufficient if any information on. Once a client understood how this wonderful product or service would benefit them, then they would either choose to use it or not. There are areas of knowledge that make this transition of education easier.

Here is the Second of Three Areas to Know:
Know Your Competition

You should know your main competitor’s strengths and weaknesses. Find out everything you can about what your competitor does. Why do people buy from them? Do they do things differently than you? Find out what those differences might be. Never cut down a competitor in front of a client, but instead, use what you know about the competitor to put your solutions in the most attractive light.

The first place to go to research competition is the internet. Visit their website and analyze everything about them — from their board of directors to old and new press releases. Is there any information you can use there? As with the first installment, if possible, talk to current or past clients or vendors about what they do right or what they do wrong. Find out why customers stay with them and why they leave. If feasible, purchase their product or service, how does it benefit the customers?

 

Make a list of three competitors and three items from each worth knowing.

 

You’d be surprised at how often you can turn a deal in your favor because you took the time to research them. Knowledge is power.

 

Stay tuned for the third Area to Know in my next post.

 

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APR
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Categories: Sales, Sales Training

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What is Sales? Part One

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What is Sales? Part One

Three Areas of Sales to Know – Number One

When I first started in business I did not look forward to sales at all – I thought sales meant you had to “sell” something to someone. When in actuality it is simply educating someone about a product or service that they didn’t have sufficient if any information on. Once a client understood how this wonderful product or service would benefit them, then they would either choose to use it or not. There are areas of knowledge that make this transition of education easier.

Here is the First of Three Areas to Know:
Know Your Client

Do you remember a previous blog in February when we talked about targeting your market?
- See Marketing | Based Upon Your Value – Use that knowledge now. Back up that general understanding you have of your target market with specific research on the person or company you’re selling to. Especially if you’re selling to other businesses, visit their website and note what you see. If possible, talk to current or past customers or vendors. Learn every aspect of the products or services they offer. How will your products or services offer them solutions? Have they won any awards recently or have they added a new product line or service? Read up on their industry, too. Are there any particular economic or regulatory challenges the entire industry is struggling with?

Know as much as you possibly can about your client, so that you can identify their key challenges and provide solutions.

Stay tuned for the second Area to Know in my next post.

 

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10
APR
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Categories: Entrepreneurship, Front Page Post, Sales, Sales Training, Start Your Own Business

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How to Improve Sales with Small Talk

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Six Ways to Improve Sales with Small Talk

I believe the trick to small talk is: THERE IS NO TRICK!

Hon­esty and speak­ing from your heart is the best thing you can do. Look at the per­son across from you as a close friend. Take down the bar­ri­ers and you will succeed.

Here are six ideas to improve your small talk in a sales scenario:

1. Best top­ics of light con­ver­sa­tions? You can always open the con­ver­sa­tion with some­thing in their office. Or if you like what they are wear­ing — com­ment on it. Or look at their web­site ahead of time and note some­thing you found out about them or their industry.

2. Most effec­tive open­ing lines? “The arti­cle on your web­site about _______ dis­cussed _____________. I found this fas­ci­nat­ing. Can you tell me more about that? This line takes you past small talk and into hav­ing them speak next — fol­low the 80/20 rule. You speak 20% of the time and they speak 80%.

3. Most effec­tive exit­ing lines? Always set the next appoint­ment or action to be taken — this is your clos­ing line. If not a good lead, then ask for a refer­ral and if pos­si­ble get them to call the per­son right then.

4. How to come off sin­cere? Be sin­cere — don’t fake sin­cer­ity. If you are hav­ing dif­fi­culty — remain calm and treat them like a friend — a confidant.

5. How to fight the awk­ward­ness? Neg­a­tive self-talk is the biggest issue here. Before you go into the meet­ing, do your home­work. The more you know about your prospect the fewer awk­ward moments.

6. The impor­tance of suc­cess­ful small talk? Small talk must be rel­e­vant. Find com­mon grounds to talk about and lead the con­ver­sa­tion to ensure you obtain the end result you want. No talk is small talk. The more you find out about your prospect, the more infor­ma­tion you will have for future conversations.

Look at my new book ENTREPRENEUR YOU for more tips on sell­ing and net­work­ing. You will be sur­prised how easy it can be.
 

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28
DEC
0

Categories: Business Training

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