I am a firm believer if you want to be a good negotiator you have to focus on win/win outcomes, listen more than you talk, know your company’s strengths and weaknesses as well as your competition’s strengths and weaknesses.
In addition, the size and quality of your pipeline makes someone a good negotiator. If you have only one deal that will make or break your month, quarter or year you are at a negotiating disadvantage! In other words, if you go into a negotiation you can’t afford to lose…you’ve already lost!
To help you become I better negotiator I’d like to share the 12 most common mistakes I’ve seen salespeople make when it comes to negotiating:
1. Underestimating your power, position, knowledge or strength
2. Jumping to conclusions
3. Not understanding the other party’s perspective
4. Focusing on your position…not mutual interests
5. Not treating the other party as you want to be treated
6. Not having alternatives
7. Assuming “their problem” is “their problem”
8. Focusing too much on one item/deliverable
9. Making assumptions
10. Backing the other party into a corner
11. Making a “take it” or “leave it” offer
12. Offering to split the difference/meet in the middle
The most successful negotiators I know strive to create mutually beneficial, long-term, profitable relationships with their customers. You should too!