Reading Time: 4 Minutes
Turns out you can push a salesperson too far in a negotiation. You can negotiate to a point where the business becomes unsustainable and there are even cases where companies have gone bankrupt because of a negotiation going too far. And, the unfortunate truth is that many sales people don’t know how or when to say “no”. This is a HUGE issue! It's so big that a big portion of the training I provide is to sales teams and teaching them how to say “no” effectively.
Reading Time: 2 Minutes
I used to have a friend and colleague that used to say, "Half of the getting is in the asking." Can you get something simply by asking? Is it really that easy?
Reading Time: 4 Minutes
ABC - Always Be Closing. It's been the sales war cry and tagline for sales for generations. Sales people always quote a movie like Glengarry Glen Ross and beat their chests to it. But the truth is, it's really bad advice and total BS. If you're ever in training for complex or technical sales in a B2B environment and someone tries to teach you this, walk out and don't look back. The person teaching you either has no idea what they're talking about or they've damaged a lot of relationships.
Reading Time: 3 Minutes
Maybe 'friends' is too strong, but surely we should be able to collaborate, right? Sales and procurement have long been 'the opposing party' to each other. Both teams have had a history of behaving badly (to use an Anthony Iannarino phrase). But is it possible for us to collaborate to drive more value for the business?
Reading Time: 6 Minutes
You are a sales person. Procurement people hate hearing this. I've got news for you, it's true. "I'm not a salesperson!" they say firmly. But if you really think about what you do. If you critically analyze the role you have, you sell in your job. Whether you like it or not, selling is a major component of what you do as a procurement person.
Reading Time: 10 Minutes
"I need you to break this price down for me.", "What is behind this price.", "Please show me the cost build up.", "Please provide full price transparency." If you're a salesperson you've heard this request or some request of this question more times than you care to count. If you're a procurement person, this is a part of your daily repertoire. You expect price transparency. Why is price transparency such a hot topic? Why do procurement people need to know what the build up is? Why are sales people so protective of it? Are price, cost, and value the same things?
Reading Time: 7 Minutes
Saying thank-you matters. It really matters. Not only does it show that you' re grateful, but it helps us enjoy our experiences, reduce anxiety, and it makes relationships stronger. In negotiation, saying thank-you can be really powerful. Some negotiation experts suggest that expressing gratitude in a negotiation invites exploitation. I do not agree.
Reading Time: 3 Minutes
Whenever I read about the application of the red herring, a decoy, or any trapping negotiating practice, all I can think of is Admiral Akbar screaming, "It's a trap!"
Anyway, enough geeking out. Don't be a jerk! Trapping in negotiation isn't wrong, but it's kind of a dick move. The red herring is a classic trap and it has been used on me more times then I care to admit. Knowing how to identify trapping practices and defend against them is essential to your long-term success as a negotiator.
Reading Time: 4 minutes
So what happens once you’ve gotten past the lunch meeting and actually secured your first sales meeting? Well, if you’ve gotten the opportunity to present your product/service/company to me, try to line it up for the next time they’re at the production facility and get them to invite some of the business users who could be using your products or services. THIS IS SO IMPORTANT! Ultimately, procurement people have no decision making power whatsoever. The people that actually make the decisions are the business users that actually use what you’re trying to sell. Procurement people influence that decision, sometimes very greatly, but they do not make the final call.
Reading Time: 7 minutes
Folks, let’s be honest with each other,....PERCEPTION IS EVERYTHING! Especially in negotiation. And, raising your perceived value is critical to negotiating good deals. What do I mean by perceived value? How you value your service or product and how a buyer values your service or product may be two completely different things. You may think that your product is the best thing since sliced bread and that people would be fools not to buy it, but a buyer may perceive it as a bad product, second tier, lower grade, or worse ...not necessary. This is a key stumbling block that life insurance and financial sales folk have. Try to convince someone that something that they’ve never even thought of before is critical and worth paying for. Tough to do. Even if someone is willing to buy your product, are they willing to buy it at the price you want to sell it for? Can you raise the perceived value of what you are selling so that the buyer is willing to fork over hard earned cash to buy your product? Or, if you’re buying something, can you reduce how valuable the seller perceives their product to be so you can get it for cheaper?
Reading Time: 9 minutes
Cold calls don’t work. Not because they can’t work, but because most people have no idea how to actually cold call. The quality of cold calls that procurement people get on a daily basis are terrible. Sales people fumbling over their opening lines, talking about how golly gee wonderful their products are and ultimately plummeting into the abyss technical specifications and features that lose me in about thirty seconds. Sure, maybe once upon a time you could pick up the phone and dial Steve, the buyer down at the lumber mart and Steve would be happy to chat to you for hours without having met you before about your fancy new product. But it's likely that the salespeople of Steve’s day had less competition, less salespeople calling on him, and Steve likely didn’t have the internet, Linkedin, and Email.
FOLLOW ME ONLINE
FREE UPDATES BY EMAIL