Here are five simple tips you should know when it comes to negotiating. Keep them in mind the next time you go into your next closing call or a call where you know you will have some negotiating to do.
1. Time: In negotiating, those who control the time usually control the negotiation. Agency buyers do this quite often when giving you an avail. You might be surprised when they send you an avail and then change up the criteria before it?s due and then put a deadline on your rates and schedule a little sooner than it was originally due. It?s a taught technique to get you to cave on your rates. They want us to rush because they know that in a time crunch we are likely to make mistakes in their favor.
2. Loose Lips Sink Ships: Never spill the deal until all parties have agreed and your program is signed and booked. Your reputation for confidentiality can add to your value as a negotiating partner. This will save you money and future headaches.
3. Power Domain: Get your client or buyer out from behind their desk. You want a level playing field. If they have a conference room, use it. If you can get them to your offices, do so. If you can?t do these things, at least sit next to them on their right-hand side if you can. They trust you more on the right side versus the left.
4. Silence Is Golden: In a tight negotiation, where there is potential for hostility, let the other side air out their concerns. Then, simply and calmly, you take control and address the situation. This also works well in a personal relationship. Arguing during a negotiation rarely leads to a successful outcome.
5. Always Open High: If you go in at the bottom of your rate card, you don?t really have any place to go if rate is going to be the number one negotiating factor. Some reps think if they go in at the top of the rate card, they are ripping off the client. When you go in low and don?t have any room on rate and then you get hammered to lower your rate, that?s not much fun. When you come in high with some room to work with on rate, then you have options versus being put against the wall on rate. Not fun. Always have options in negotiating especially when it comes to the money.
Sean Luce is the Head National Instructor for the Luce Performance Group International and can be reached at firstname.lastname@example.org or www.luceperformancegroup.com. Sean?s new book The Liquid Fire can be found at amazon.com.
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