In a recent episode of Negotiations Ninja, Jeanette Nyden returned to talk about liquidated damages. She also addresses what liquidated damage(s) clauses look like in the SaaS space. So what are liquidated damages? Liquidated damages are not a penalty; It is money that a customer receives from a supplier for a value not received. You need to conduct a cost-analysis In Jeannette’s book, “The Contract Professional’s Playbook,” she talks about activity-based cost analysis (TCO analysis). You…
Sellers: Are you the Brown Box or the Custom Package?
In your industry, who are the stand-out experts? They probably come to mind immediately. That’s because they’ve done a fantastic job positioning themselves as experts. Of course, they have the experience and knowledge to back up their position, but nobody can deny that their personal branding and positioning has also paid off. Now step back for a moment and ask yourself a simple question: How does that person’s reputation as an expert impact their sales…
The Six Different People in a Negotiation
People new to enterprise sales think that when they’re in a room negotiating with one person, they’re negotiating with one person. But according to Joe Paranteau, there are multiple people that you negotiate with throughout the relationship. Why is it important to be able to communicate and negotiate with everyone involved? The six different people in a negotiation are people that are often overlooked. Joe uses this framework when he approaches any communication: How do…
The Difference Between Average and Great Salespeople
What helps people move from being average to being great? What’s the mindset difference? Marty Park believes that if you’re the business owner doubling as the sales manager and you have a team of 10 people, you’ll likely have two that kill it. They’re the ones that love cold-calling. They love being rejected because it brings them one step closer to a sale. They are enthusiastic about selling. He firmly believes the two lowest performers…
How to Employ Cialdini’s Principles of Influence at the Right Time
Too many people start a sales conversation with scarcity instead of starting with the principle of liking or creating social proof. Should there be timing around some of the principles? In Brian Ahearn’s book, “Persuasive Selling for Relationship Driven Insurance Agents,” he looks at the sales process. He covers which principles are most effective at each point of the sales process. So what could—or should—you start with? Authority, likability, and social proof When you are…