Look through this checklist. Which of the mistakes do you make?
What do you need to do to improve your negotiating techniques?
Before entering into negotiations with customers you need to be fully prepared in order to achieve the best possible results.
The following checklist has been designed to ensure sales people are fully prepared and less likely to give away costly concessions:
Objectives:
What exactly do I want to achieve from this negotiation?
Which of my objectives:
- Must I achieve?
- Do I intend to achieve?
- Would I like to achieve?
What does the other side need to achieve from the negotiation?
How comparable are our objectives?
Information:
- What information does the otherside have that I need to know before beginning to negotiate?
- What information do I have that could be useful to the other side in the negotiation?
- How could this information affect the outcome of the negotiation?
Concessions:
What concessions are available to me in this negotiation?
What is the cost and value of each concession?
- To me?
- To the other side?
What concessions are available to me other than the price?
What is the limit of my authority?
At what point shall I walk away?
Strategy
How am I going to achieve my objectives in this negotiation?
- What strategy is the other side likely to adopt?
- What tactics can I use during negotiation?
- What tactics are the other side likely to use?
Tasks (Team negotiations only)
What role should each team member take in the negotiation?
How can we work together most effectively?
How well do we understand our objectives and those of the other side?
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