Discover the Critical Negotiation Skills Sales People Need to Close More Deals
People use the words “tenacious” and “driven” to describe me and, in fact, that’s why I got hired by a well-funded startup to cover the New England territory as a Director of Sales. But, my desire to prove myself had me blind to the stumbling blocks I was inadvertently putting up for buyers. Hard to admit, but my sales tactics were actually getting in the way of reaching an agreement.
Virtually all my prospects were overwhelmed by smaller budgets, fewer resources, and reduced headcount. I knew that I needed to distinguish myself from every other rep trying to sell them a product. My challenge was to to be viewed as a trusted advisor who could solve their problems. It was clear that I wasn’t cutting it.
In the end, I found indecision to be my primary competition. It wasn’t that my prospects were turning to competitors, they just weren’t making any decisions and the sales cycle kept dragging on. As a start-up, cash flow is life or death, so I needed to figure out how to accelerate sales and revenue – and I needed to figure it out fast.
After a rocky couple of months, it was clear that my strategy was actually getting in the way of reaching my goals. It was time to alter my negotiation tactics. With the help of my supportive boss, I learned how to:
- Be realistic in how I priced our enterprise software solution, and think beyond price as the primary issue on the table and to include other value we could offer – such as payment plans, implementation consulting, and service packages.
- Not overwhelm my buyer with too many options in my zeal to get one that my prospect would accept
- Shape three equivalent offers that reveal what my company values and uncover my buyer’s priorities
- Word the proposal to establish a default agreement with phrases such as, “Let me know if you disagree”
- Use “time tactics” to accelerate decisions, such as agreeing to reach a decision on an open issue at a later date
- Express “no” in a positive way and have a “Plan B” in my back pocket
- Shutdown competitive offers for a specific period of time
I came to see that honing my negotiation skills was essential not only to my success, but also the success of my buyers and my company.
Dear Sales Professional:
Greg’s candid account about what he did to boost his stalled sales performance speaks to the value of negotiation as an essential sales skill. That’s why I am sharing it with you.
Greg’s situation is not unique. In fact, stories like his motivate us here at the Program on Negotiation (PON) at Harvard Law School. We are dedicated to helping sales reps and managers master negotiation skills to outperform their peers and exceed their quota. That’s how they win, how their company wins, how their client wins, and how we measure our success. That’s exactly why we pulled this special report together.
Learn the skills essential to becoming an expert negotiator. In Sales Negotiation Training: Essential Negotiation Skills for Sales Professionals, you’ll gain actionable strategies for:
- Adjusting expectations
- Making offers more appealing
- Closing sales negotiations faster
Effective sales negotiation means a mutually beneficial outcome that earns you respect as a trusted advisor as well.
This report covers pivotal principles, such as:
- The instant endowment effect – to avoid the natural tendency to overvalue (and overprice)
- Multiple Equivalent Simultaneous Offers (MESOs) – to give negotiators the choices they desire without sending them into decision paralysis
- Shut down moves – to cut off competition and turn a competitive bidding auction into a negotiation with your firm only
Curated from the Negotiation newsletter, this report contains the most important and the most relevant information for sales professionals. In seven pages, we highlight critical sales negotiation strategies and skills.
Accelerate your ability to close deals with this free Special Report from the Program on Negotiation at Harvard Law School.
Sales Negotiation Training: Essential Negotiation Skills for Sales Professionals is a fast-reading report from the Program on Negotiation at Harvard Law School. It’s an invaluable collection of the most popular articles from our well-read monthly newsletter, Negotiation, written for business leaders.
If you’re like most sales people, you want to cut right through to the most important information. Proven insights that generate results are what you’ll find in this Sales Negotiation Special Report.
That’s why I recommend you download your free copy of this Special Report, Sales Negotiation Training: Essential Negotiation Skills for Sales Professionals. Simply click the button below. I am sure you will be glad you did.
Here’s to negotiating well and beating your sales goals!
Robert H. Mnookin
Samuel Williston Professor of Law
Faculty Chair, Program on Negotiation
Harvard Law School
P.S. Whether you are a sales person or lead a sales team, honing your own or your team’s negotiation skills is the key to closing more deals faster. Get your complimentary report today by clicking on the link below.