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Are You A Negotiating Nightmare?
Years ago I read this quote: The definition of PAIN: "The difference between what you HAVE and what you WANT." Over the many years of being in sales I see 2 kinds of people when it comes to negotiating. 1) The person who doesn't budge an inch. 2) The person who gives away everything to get the deal. I would much rather you believe in your product/service as compared to giving away discounts/freebies etc. with no regard to your own value. As we all know...reality usually lies somewhere in the middle. But what controls the negotiation process? Well - back to economics school everyone! 1) The Law of Supply and Demand 2) The Law of Perceived Value If you have what someone else wants or needs - then you are in a stronger negotiating position. If they can't get it anywhere else - you are in an even stronger negotiating position. If they know your product/service has absolutely the VALUE that they are looking for - you are in the best position of all. So When Do You Negotiate Yoda? Well...remember that negotiation is part of life. You are doing it right now! You are negotiating on which movie to go to, where you are going to spend your holidays, who gets to drive the kids to school today..you know what I am talking about. The Diva Rule of Negotiation? If you know your pricing is solid, your perceived value is high, the law of supply and demand is on your side - then you don't move an INCH! If there is a deal that has long-term benefits to you, reasonable volume, leverage and spin-off - is the only time you consider negotiating. DO NOT - I REPEAT DO NOT - EVER GIVE AWAY THE FARM. WHY? Because there is no going back. AND NEVER NEGOTIATE ON ONE-HIT WONDER DEALS unless there is something reaaaaaaaaaaally amazing in it for you. Like dinner with the Queen...or Brad Pitt! Remember - in an active negotiation process- you give something and the other party gives something. It isn't when you give everything and the other party doesn't provide any concessions. Unless of course...the Law of Supply and Demand and Perceived Value are not in your favor. So take a minute today...where does your product/service stand? What are YOU doing to create Perceived Value? The only pain this Diva wants you to experience are GROWING PAINS! Copyright© 2005
This article was posted on December 12, 2005
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