Every sales person brings a unique set of skills and style to gain their client’s confidence and ultimately close the deal. However, what should be universal is the preparation that must be done before each negotiation. What are the best practices and what skills do you need to work on to be successful at negotiating?
Understand your value and sell it.
The best negotiators don’t lose on price because they sell value, not just product. Remember to outline all of the work you’ve already put in, and what you and your company have brought to the table. Talk about the value before you talk about the price.
The best reps DQ deals early.
You have to understand the goals of both the companies and individuals you’re selling to. If you can’t meet their goals or if they can’t align on price, it’s okay to move on. Better to say no early than to waste your time and theirs.
Every loss is a win.
The reason why you weren’t able to close a deal may be the difference in closing the next. Every negotiation is a stepping point and opportunity for growth. You should know what a win is for both sides and it shouldn’t be a compromise.
Be who you are when negotiating.
Your background and skills are unique, so it’s important to remain authentic in your conversations with potential clients. Identify what you are good at and what you can improve on. Once you’ve identified these attributes, you will be more comfortable in every conversation.
While there are many pointers to be a better negotiator, preparation should be first on the checklist of every negotiation. When you come prepared knowing the value of what you’re selling, understanding what your client cares about, and setting goals for these conversations, you can sit at any negotiating table with full confidence. Want to learn more? You can stream the full event recording here.
Thank you to all of the WISE partners that made this event possible and our panelists for sharing their time and advice.