NEGOTIATING FOR SUCCESS Ed Brodow Copyright © 2007 Ed Brodow Seminars. All Rights Reserved. SALES MANAGEMENT FORUM

NEGOTIATING FOR SUCCESS Ed Brodow Copyright © 2007 Ed Brodow Seminars. All Rights Reserved. SALES MANAGEMENT FORUM

Learning Points Listening Managing Buyer Expectations Concessions: Reluctantly Dealing with Buyer Tactics Defending Your Price Finding a Win-Win Solution

Listening

Managing Buyer Expectations

Concessions: Reluctantly

Dealing with Buyer Tactics

Defending Your Price

Finding a Win-Win Solution

Definition of Negotiation: The process of overcoming obstacles in order to reach agreement.

Listening The 70/30 Rule Open-Ended Questions

The 70/30 Rule

Open-Ended Questions

Be a Detective

Managing Expectations Everything you say has influence Challenge customer’s assumptions Ask for more than you want Differentiate Yourself No is a Good Answer

Everything you say has influence

Challenge customer’s assumptions

Ask for more than you want

Differentiate Yourself

No is a Good Answer

How to Say NO Limited Authority Legitimacy Confidence

Limited Authority

Legitimacy

Confidence

Managing Expectations Everything you say has influence Challenge customer’s assumptions Ask for more than you want Differentiate Yourself No is a good answer Willingness to walk away

Everything you say has influence

Challenge customer’s assumptions

Ask for more than you want

Differentiate Yourself

No is a good answer

Willingness to walk away

Making Concessions Make them work for concessions Ask for more than you want Small concessions Don’t make the first move Don’t accept the first offer Minor concessions

Make them work for concessions

Ask for more than you want

Small concessions

Don’t make the first move

Don’t accept the first offer

Minor concessions

Buyer Tactics Flinch Sob Story Squeeze Nibble Straw Demand

Flinch

Sob Story

Squeeze

Nibble

Straw Demand

Defending Your Price Resell Value

Resell Value

Consultative Selling Focus on Solving Customer’s Problems

Focus on Solving Customer’s Problems

Consultative Selling Value - not Price

Value - not Price

Defending Your Price Resell Value Good Reasons Legitimacy Let Them Complain Flinch

Resell Value

Good Reasons

Legitimacy

Let Them Complain

Flinch

Defending Your Price Peripheral Concessions Ask for Something in Return

Peripheral Concessions

Ask for Something in Return

When All Else Fails Plead Weakness

What Am I?

Missing Link?

Differences Chimps Hot-tempered Violent Kill Each Other Bonobos Sensitive Sexual Peaceful

Chimps

Hot-tempered

Violent

Kill Each Other

Bonobos

Sensitive

Sexual

Peaceful

Bonobo Evolution

After a Hard Day at the Office

Yoga Class

Two Bonobos Negotiating

The Three Rules for Win-Win Negotiating Treat the buyer like a partner Develop trust by listening Explore options for mutual satisfaction

Treat the buyer like a partner

Develop trust by listening

Explore options for mutual satisfaction

Rule #1: Treat Them like a Partner Don’t Accept Their Hostility Try to Understand Them Solve Their Problem

Don’t Accept Their Hostility

Try to Understand Them

Solve Their Problem

Rule #2: Develop Trust By Listening 70/30 Rule Ask Questions to Clarify Acknowledge Their Position Woo – Show That You Care

70/30 Rule

Ask Questions to Clarify

Acknowledge Their Position

Woo – Show That You Care

Rule #3: Explore Options for Mutual Satisfaction Brainstorm Outcomes Find Agreement Expand the Pie

Brainstorm Outcomes

Find Agreement

Expand the Pie

The Three Rules for Win-Win Negotiating Be a Partner Develop Trust By Listening Explore Options for Mutual Satisfaction

Be a Partner

Develop Trust By Listening

Explore Options for Mutual Satisfaction

Are you a CHIMP? or Are you a BONOBO?

Are you a CHIMP?

or

Are you a BONOBO?