{"id":16,"date":"2021-06-25T14:16:08","date_gmt":"2021-06-25T12:16:08","guid":{"rendered":"https:\/\/legrandblogdelavente.halifax-consulting.com\/en\/?p=16"},"modified":"2024-05-22T10:33:06","modified_gmt":"2024-05-22T08:33:06","slug":"30-of-success-in-negotiation-lies-in-proper-preparation","status":"publish","type":"post","link":"https:\/\/www.halifax-consulting.com\/en\/blog\/30-of-success-in-negotiation-lies-in-proper-preparation\/","title":{"rendered":"30% of success in negotiation lies in proper preparation"},"content":{"rendered":"\n

Sales reps often rush through their preparation or spend too much time on technical issues and not enough on sales and financial negotiation scenarios. The opposite is true for buyers, who are often over-prepared (see The Purchasing Chessboard: 64 Methods to Reduce Cost and Increase Value with Suppliers, published  by AT Kearney,<\/em> for a relaxing evening read).<\/h2>\n\n\n\n

The three poor excuses for being underprepared <\/h3>\n\n\n\n

I\u2019ll come across as unnatural: <\/strong>It\u2019s usually more pleasant to speak with people who are relaxed and natural. But when you think about it, would you prefer a slightly uptight sales rep who fights to protect the company\u2019s margins, or someone \u201cnatural\u201d who falters as soon as they\u2019re pressed by a buyer? Because this relaxed attitude can come with a lot of bad habits. What\u2019s bred in the bone comes out in the flesh<\/em>.<\/em><\/p>\n\n\n\n

I don\u2019t have time: <\/strong> We need to put an end to this horrendous excuse that is used far too often.
We\u2019re always short on time, so get your priorities straight and remember the following adage: The best are often those who do what others don\u2019t have time to!<\/em><\/em><\/p>\n\n\n\n

There\u2019s no point:<\/strong> This is the most pernicious one: saying that negotiations never go as planned, so there\u2019s no point in preparing. In a word, it\u2019s laziness hidden behind a defeatist mindset. As everyone knows, vague goals always lead to very specific mess-ups<\/em>!<\/em><\/p>\n\n\n\n

2. There\u2019s no reason to rush\u2014keep the right pace <\/h3>\n\n\n\n

Like in the fable of the tortoise and the hare, don\u2019t be so sure of yourself before a negotiation and ease into your preparation step by step. That involves:<\/p>\n\n\n\n

  • Taking into account the context and setting<\/strong><\/li>
  • Defining a strategy <\/strong>with well delineated positions and goals<\/strong><\/li>
  • Visualizing and practicing the right techniques and demeanor<\/strong><\/li><\/ul>\n\n\n\n

    Churchill said that \u201can impromptu speech has been rehearsed at least three times,\u201d just as a well conducted negotiation has been carefully prepared.<\/em><\/p>\n\n\n\n

    How to adjust to the context and setting <\/strong><\/strong><\/p>\n\n\n\n

    Take a holistic approach to negotiation: <\/strong>It\u2019s not just two people sitting across from each other at a table. You have to consider the various client stakeholders that may not be visible or known. For sales reps, there\u2019s not a <\/em>negotiation, but several, sometimes with competing goals on the client side.<\/p>\n\n\n\n

    Assess the balance of power: <\/strong>Clients\u2019 pre-negotiation demands make many salespeople feel vulnerable. This pressure grows when there\u2019s a big prize in terms of revenue. But the balance of power is measured in more ways than just size. Other elements that factor in: who\u2019s the quickest, the least in a rush, who has the most allies, etc.<\/p>\n\n\n\n

    Distinguish position from goal <\/h3>\n\n\n\n

    All sales directors know how immensely hard it can be to negotiate price requests from their sales reps. \u201cIf only my sales reps could negotiate as well with the client as they do with me\u201d <\/em>is a common refrain we hear from sales directors who often have this type of conversation with their salespeople:<\/p>\n\n\n\n

    Sales rep:<\/strong> \u201cWe need to go down to 80 with this client\u201d<\/em><\/em><\/p>\n\n\n\n

    Sales director:<\/strong> \u201cWe can\u2019t. You know that our limit is 100.\u201d<\/em><\/em><\/p>\n\n\n\n

    Sales rep:<\/strong> \u201cRight, but the client has another offer at 81 and he was clear that it has to be 80 if we want the deal. So it\u2019s up to you to decide if we do the deal or not.\u201d<\/em><\/em><\/p>\n\n\n\n

    To avoid missing out on a deal, the sales rep prefers avoiding any risks, often spending much more energy convincing their manager than convincing their client.<\/p>\n\n\n\n

    The buyer is simply presenting their position, their Most Desired Outcome (MDO): a request for a significant discount at the start of the negotiation. The buyer also always has in mind their Least Acceptable Agreement (LAA), the most they are willing to concede.<\/p>\n\n\n\n

    The buyer gives their position (80), but their actual goal is to lower the price. <\/strong>
    Many sales reps fall into the trap of confusing position and goal.<\/strong><\/p>\n\n\n\n

    The moral of the story is that if there is any time when you really shouldn\u2019t listen to the client, then it is when they ask to lower the price! You\u2019re better off turning a deaf ear<\/strong> and focusing on what matters: negotiating.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Sales reps often rush through their preparation or spend too much time on technical issues and not enough on sales and financial negotiation scenarios. The opposite is true for buyers, who are often over-prepared (see The Purchasing Chessboard: 64 Methods to Reduce Cost and Increase Value with Suppliers, published  by AT Kearney, for a relaxing evening read). The three poor excuses for being underprepared I\u2019ll come across as unnatural: It\u2019s usually more pleasant to speak with people who are relaxed and natural. But when you think about it, would you prefer a slightly uptight sales rep who fights to protect the company\u2019s margins, or someone \u201cnatural\u201d who falters as soon […]<\/p>\n","protected":false},"author":12,"featured_media":18537,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[48,1],"tags":[],"acf":[],"yoast_head":"\n30% of success in negotiation lies in proper preparation<\/title>\n<meta name=\"description\" content=\"Sales reps often rush through their preparation or spend too much time on technical issues and not enough on sales and financial negotiation scenarios.\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.halifax-consulting.com\/en\/blog\/30-of-success-in-negotiation-lies-in-proper-preparation\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"30% of success in negotiation lies in proper 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