Ten essential negotiation skills are outlined for salespeople. They include: preparing extensively on prospects; building rapport before discussing business; using silence to let others ask questions; defining your bottom line; allowing prospects to make the first offer; identifying all decision-makers; demonstrating value with data; knowing when to walk away; practicing patience; and asking for concessions in return. Mastering these ten skills can account for 90% of sales success.

1. EVERY SALESPERSON NEEDS TO MASTER
10
ESSENTIAL
NEGOTIATION
SKILLS

2. FAIL TO PREPARE
AND PREPARE
TO FAIL

3. Being prepared accounts for
90% of your sales success.
Make sure you have prepared:
Extensive research on your prospect and
their operation. Proof in the form of
testimonials, data or case studies. A detailed
description of your prospect’s problem and a
plan that depicts your solution.

4. BE HUMAN

5. Build rapport with your counter part before
getting down to business. Reminding everyone
that we're all human will help set the stage for
a successful negotiation.

6. USE THE POWER
OF ‘SILENCE’

7. Heard the saying ‘silence
speaks louder than words'?
Have the confidence to state your terms,
then being completely silent. Let the other
party squirm and ask clarifying questions
instead of you.

8. DEFINE YOUR
DISCOUNTS

9. It's critical to define your bottom line and
walk-away point. Don't let pressure and
uncertainty control the path of your sales
negotiation because ultimately, it will only
lead to you losing even if you 'won.'

10. ALLOW YOUR
PROSPECT TO
START THE
NEGOTIATION

11. Allowing your counterpart to propose the first
offer gives you the advantage to see how close
you are to the other party's desired outcome
and allows you to alter your offer if needed.

12. IDENTIFY AND
INCLUDE THE
DECISION MAKER

13. Will anyone else be involved in the decision?
Who else should we have at the meeting?
Do you want to invite the [person's role] to
the meeting?
Find out if there are multiple
decision-makers and have them present
during the negotiations so you can propose
your offer based on everyone's needs.
Use these questions to get the
decision-maker involved:

14. DEMONSTRATED
VALUE

15. Do you have qualitative or quantitative data
you could present to your prospect to prove
the value of what you're asking for? Have
these prepared for your negotiation.

16. KNOW WHEN
TO WALK AWAY

17. If prospects start to ask for radical amendments
or colossal price reductions, it's essential to
know that you have the option to walk away.
However, try to slowly disengage from talks
first by displaying your dissatisfaction with how
the process is evolving. If they aren't picking up
on your signals, gracefully bow out to save you
both from wasting time and effort.

18. PRACTICE
PATIENCE

19. Nobody wants to rush into a deal they’re not
100% happy with – so it’s imperative to
slow down, take a break and thoroughly
evaluate the situation now and again. Offer a
break to both parties if needed.

20. ASK FOR
SOMETHING
IN RETURN

21. Ensure that everyone leaves the negotiation
with a win-win situation by asking for
something in return for your concessions.

22. www.socoselling.com