Negotiating the Sales Deal
Diane Glover
Oct 31, 2019
A good salesperson is usually able to get to the negotiating table. Once there, however, it takes a great salesperson to close the deal. The difference often comes down to an ability to negotiate skillfully.
Here are eight negotiating tools to help salespeople improve their closing percentages:
1. Preparation. Remember the scouts’ motto. Get your facts straight before you start. If you have to keep delaying the process so you can find more information, you’re probably making a bad impression. Always be prepared. Never walk in cold.
2. Bottom line. Before you sit at the negotiating table, know what you want and what you’ll settle for. Set upper and lower limits. Ask questions to find out what your customers need. Then, read between the lines, make realistic proposals and keep your options open. Needs change as more information and new ideas surface.
3. Expectation. Aim high. Lofty expectations generally produce lofty results, so ask for more than you expect to get. This lets the other side understand your needs and gives you an opportunity to make a counteroffer after a proposal is made. Rather than criticize the prospect’s proposals, make new offers. Brainstorming alternatives can sometimes produce an agreement that no one considered.
4. Harmony. We all prefer to work with people we like, so even if you don’t care for a customer, get over it. Don’t let personal feelings cloud judgment. Show respect and build trust. If you create a good rapport, information is more willingly shared and defenses are dropped.
5. Filtering. Don’t let discussions get sidetracked by minor issues. Put them on the back burner and focus first on the big differences. You can get back to the small stuff later. When you do, you may find it no longer matters.
6. Patience. Often, the person with the most time wins. Salespeople are frequently urged to act quickly. But if you feel rushed, the other side may be able to outwait you and get a better deal. Give yourself time to step back, weigh the issues and make an informed proposal.
7. Note-taking. You’ve seen the police shows on TV where each witness remembers the crime differently. The same thing can happen with a potentially great sales deal. To avoid mistaken assumptions about the terms of an agreement, write them down so everyone understands them precisely.
8. Silence. Sometimes, the best tactic is to just keep quiet after an offer or concession is made. Silence can prompt an immediate and positive reaction. Let the customer talk himself out of objections. As the other person talks, you listen. Then ask more questions and listen more. Reveal only as much information as you need to.
You go to a sales meeting knowing your top and bottom limits. In the end, if you can’t resolve the issues to everyone’s satisfaction, there are only two words left: “No deal.” Don’t be afraid to walk away.
Have you been able to get to the negotiating table but don’t know the right deal to negotiate? Kirsch CPA Group can help give you the tools you need to build a deal that is right for both parties. Contact us today at 513.858.6040.
About The Author
As the Manager of Practice Growth, Diane focuses on the market awareness and growth of Kirsch CPA Group…
Tags
Sign Up for Email Updates
Related Articles
Tax Treatment of Debt Forgiveness: Watch Out for Tax Bills Delivered COD
- 01-18-23
- Kirsch CPA Group
Manufacturers: Be Aware of These 3 Business Tax Provisions Currently in Limbo
- 01-18-23
- Kirsch CPA Group
The Tax Deductible Mileage Rate for Business Driving Increases for 2023
- 01-04-23
- Kirsch CPA Group
Succession Planning Considerations for Construction Business Owners
- 12-14-22
- Kirsch CPA Group
Prevent Fraud at Your Construction Company With a Holistic Approach
- 11-30-22
- Kirsch CPA Group
Manufacturers Must Act Now to Maximize Depreciation-Related Tax Breaks for 2022
- 11-09-22
- Kirsch CPA Group
It’s Time for Businesses to Rethink Their Working Capital Practices
- 11-09-22
- Kirsch CPA Group
Social Security Wage Base and Earnings Test Amounts Increase in 2023
- 10-27-22
- Kirsch CPA Group
New Law Enhances Payroll Tax Break for Small Manufacturers’ Research Expenses
- 10-13-22
- Kirsch CPA Group
How Buy-Sell Agreements Factor into Business Owners’ Estate Plans
- 09-14-22
- Kirsch CPA Group
SALT Cap Workaround Law Could Save Ohio Business Owners Over $100 Million
- 08-31-22
- Kirsch CPA Group
How Manufacturing Companies Can Benefit from the Section 179 Expensing Deduction
- 08-04-22
- Kirsch CPA Group
Could the Work Opportunity Tax Credit Help Your Construction Company?
- 06-23-22
- Kirsch CPA Group
Good News: IRS Boosts Standard Mileage Rates for Second Half of 2022
- 06-23-22
- Kirsch CPA Group
Education Benefits Can Help You Recruit and Retain Smart Employees
- 05-26-22
- Kirsch CPA Group
Ensure Your Construction Accounting System Has the Right Features
- 05-12-22
- Kirsch CPA Group
John Kirsch Named to Greater Butler and Warren Counties Business Hall of Fame
- 03-25-22
- Diane Glover
Manufacturers Need to Act Soon to Take Advantage of 100% First-year Bonus Depreciation
- 03-17-22
- Kirsch CPA Group
Commission Fraud: Salespeople Getting Paid More Than They’ve Earned
- 02-04-22
- Kirsch CPA Group
Consider a New Approach to Meeting Your Business Real Estate Need
- 09-17-21
- Kirsch CPA Group
Beware: Teleworking Arrangements May Cause State Tax Withholding Issues
- 08-18-21
- Kirsch CPA Group
5 Common Construction Accounting Risks — and How to Address Them
- 07-07-21
- Kirsch CPA Group
Supreme Court Finds No Standing to Challenge a Provision of the ACA
- 06-24-21
- Kirsch CPA Group
Labor Shortage: Unlock Solutions by Evaluating Your Employment Value Proposition
- 06-09-21
- Kirsch CPA Group
Material Participation Standard is the Key to Unlocking LLC Tax Losses
- 05-27-21
- Kirsch CPA Group
Know Your Legal Obligations Under the Americans with Disabilities Act
- 05-13-21
- Kirsch CPA Group
PPP Loan Not Forgiven? There’s a Safe Harbor for Deducting Expenses
- 12-03-20
- Kirsch CPA Group
What You Need to Know About the Deferral of Payroll Tax Obligations
- 09-15-20
- Kirsch CPA Group
PPP Loan Forgiveness – Significant Borrower Friendly Changes on the Horizon
- 06-04-20
- John Kirsch
Tax Filing Deadline Remains April 15 – Payment Due Extended to July 15
- 03-19-20
- John Kirsch
Prepare to Receive a Social Security Administration No-Match Letter
- 10-15-19
- Kirsch CPA Group
IRS Announces Changes for Personal Use of Employer-Provided Vehicles
- 06-10-19
- Diane Glover
Watch Out for these Tax Issues When Planning for Your Business in 2018
- 06-26-18
- Diane Glover
What Image Does Your Organization Present to Large Contributors?
- 03-15-18
- Kirsch CPA Group
8 strategies to help you adapt to economic down turn without layoffs
- 02-24-18
- Diane Glover
Remember To Take Required Minimum Distributions at Age 70 1/2 Or Face Penalties
- 02-17-17
- Sue Schloemer
Time is Money: Don’t Spend Valuable Time Inputting Data into QuickBooks
- 06-18-22
- Diane Glover