How to Negotiate From a Weak Position
Negotiating From a Position of Weakness is Daunting
But reframe the situation and you realise some strengths. With nothing to lose there is … well nothing to lose!
And thinking you’ve no chance of winnning the other side can get quite sloppy and can underrate you. This is your hidden secret. With it you can now build a winning strategy
Building Your Winning Strategy
Whether Encouraging Prospective Students or Employers We’ve All Sensed Prospective Customers That Are Reluctant to Proceed.
When Reluctant Buyers voice their issues it is relatively easy as we have been trained to handle the situation; we know about sales objections and how to handle them. The real problem comes when we just sense their reluctance but it is left unsaid.
So what do we Brits do? Often we leave sleeping dogs to lie. We don’t like raising problems. this is mainly because we try to avoid conflict at all costs.
The result is the meeting or negotiation goes well, there is no conflict and we part “good friends”. But the student never reappears or the employer doesn’t place the order for training or doesn’t proceed with taking an apprentice.
Everyone has wasted their time. It is a lose lose situation.
Handling Reluctant Buyers Unsaid Sales Objections
Do Your Negotiations Say It With Flowers?
Are you a tough negotiator like Tesco .. or do you have more sense?
The recent spate of media coverage over the tactics that the supermarkets use with suppliers has exposed many of them to the public gaze. As long ago as the 1990s I supplied a number of supermarket chains so the current stories do not surprise me. I’ve been there and have the T-shirt.
I dumped Tesco, Sainsburys and several other supermarket chains before they controlled the business I then owned. It was tough but subsequently I was much better off.
There are thirteen words that can land any deal that has stalled.
It might be a sale or a purchase but deals sometimes stall and although you mean to chase them up and get things moving again .. you don’t have time.
So use this 13 word email template and get things moving again .. the same words work in a phone call or text message.
I’ve a friend who is a curious man.
No, I’m not being rude .. it is what he often says when negotiating.
He’ll say things like “I am curious about why you want this by month end”, “I’m curious why you want that quantity” or “I’m curious why you made that decision”.
His curiosity is almost childlike. But in the same way we tolerate children and their questions .. and even answer them .. he is able to ask really difficult questions without appearing rude or threatening.
When negotiating there are two ways to name a price.
You either publish one in advance, and lose all chances of negotiating a better deal, or you can negotiate one, where you hold the best cards.
If you publish a price on your website, or in your brochure, it becomes binding in many ways. Psychologically the customer will see this as your maximum price and will try to get a reduction on this. If you’ve tried to be clever, and have inflated the published price, then it might drive away many prospective customers that are initially making a search based on price.
The reality is that price is rarely the only factor buyers take into account. So you can negotiate.
The success of a negotiation is often dependent on the questions asked and answered.
But how do you know what questions to ask. Some are obvious of course … but others, although more revealing, can be more difficult to formulate.
Let’s start with some simple Closed questions that elicit either a YES or NO answer. Continue reading
What is your best price for xxxx?
This is a typical question during a negotiation and we need to have thought carefully about a whole range of prices.
First there is your WAP Price.
The Price Golden Rule
Never be the first person to name a figure
In negotiations once everything else is settled someone names a price. Then the other side names a price and we gradually meet in the somewhere in the middle.
When this happens the first one to name a price always gets the worse deal.
A Golden Rule in Negotiating is NOT to Obey the Rules
Years ago I negotiated with a large business and really upset them. They kept sending me contracts to sign and I kept sending them back asking for amendments. In the end they sent me an unsigned contract with a note saying this was their best offer and I must sign.
When Negotiating Don’t Get Emotionally Involved
One big mistake many amateur negotiators make is to become too emotionally attached to winning. It becomes very personal for them and they feel that to compromise is a to be weak. Well giving in to your emotions is weak whilst compromise that leads to you achieving your objectives is a strength. But there’s more ….
Here is a Negotiation Tip that far too many people ignore.
Be prepared to negotiate
It might seem obvious but unless you are prepared to negotiate you are going to miss out on business. At this stage of the process, when I ask, far too many providers say they have a fixed price list and can’t negotiate .. if I remain silent for a while they fill the pause with explanations about funding issues, margins, and lots of other woffle.
The reality is we should always be prepared to negotiate.
How to negotiate in a formal situation
Deals can be made or loss at the negotiation table. Get these few pointers right and you are likely to land that contract on your terms. Get them wrong and you’ll be severally disadvantaged.
Provided you negotiate for a good table!
How to Negotiate
Children do it, you do it, I do it. We all negotiate every day. The alternative is confrontation.
Of course much of it is informal. We aren’t negotiating a large contract or negotiating at a peace conference. Often we have to negotiate with our kids .. that can be one of the toughest forms of negotiation, sometimes we negotiate for resources or a better salary but we all have to do it.
How to read body language micro-expressions. Are you reading your client’s body language correctly?
This micro-expression often only lasts a fraction of a second and you should never rely on one expression alone to form an opinion. However, when several micro-expressions all point in the same direction the chances of them being right grows.
Shops and online retailers hold sales so why shouldn’t providers?
This is a bit of a foreign concept to providers. We all accept that most other businesses hold sales but few providers consider it a strategy they should be involved in. But why?
We seem to live in a world that consists of constant meetings.
In many senses they are a necessary part of life; but they can become quite repetitive with the same weekly agenda and same people saying the same old thing week after week.
So how can we make our meetings in to inspirational events that will see us reaching aspirational targets that drives our business forward (or how we we make them less boring?).