The Ten Commandments of Business Negotiations (part1) Seller
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(1)Thou Shalt Establish Criteria; State clearly who you are, and what your part is, in the negotiation. .... Let the buyer know who you are and what you are about. So you dont both end up in a position where the buyer is trying to buy apples from a butcher.
(2)Thou Shalt always have clarity of purpose ; The seller must always be clear about what they want from the negotiation. For the Seller, this will include his terms and all other necessary benchmarks, under which he can deliver on the negotiated outcome. If he is not clear about this, you then have a situation where a seller ends up compromising his own standards, and sometimes even his profit, because he was not clear what he wanted to begin with, so he was not aware of how to stand firm and achieve it.
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(3)Thou Shalt alway keep your Questions and Answers clear;- Many a time Sellers answer the question they think a buyer wants answers to Instead of asking and answering questions in a manner that illuminates the transaction and allows all the parties to know where they stand. This only leads to confusion down the line. Keep your questions simple, and your answers to the point. and you waste less time and get to your objectives quicker.
(4)Be Thou aware... Honesty is the best policy;- Do not play fast and lose with the truth. If you cannot meet the standard/quality or the quantity at the agreed time or at the price desired by the buyer, Say so. Statements based on Fantasy serves nobody. This is not a game of wits. Peoples peace of mind is at stake, it does not need to be a game of luck whether a seller can deliver on his promise.
(5)Thou must possess... knowledge, knowledge, knowledge;- This is the single most important attribute that a seller can bring to the negotiation. Have you done your homework, Do you know your product inside and out. Do you understand trends that can impact your product one way or another. do you communicte this product knowledge adequately to your customers so that confidence and knowledge will make you a star performer.
(6)Thou should make Innovation your religion;- are you innovative, cutting edge, and able to deliver to your customers, products that just enable them blow their competition away. This does not need to be anything groundbreaking just a minor improvement on an existing product can make all the difference.
(7) Abhor bait and switch;- Many a time sellers think they are clever by half, and make offers they cannot live up to, and resort to the age old tactics of bait and switch. This only creates a very very sour taste for the buyer. It serves to alienate a buyer because it is very shoddy practice. 9 out of 10 times, the seller will lose the customer and if they do place an order they will more than likely not be repeat customers.
(8)Thou should seek to Go the extra mile;- It does not take much to add value to a customer experience, without any additonal cost to the seller. This is one very very easy way to have loyal customers who will not only vouch for you, and your product, but will be your loyal fan, for a long time to come.
(9) Thou shalt worship at the altar of Win Win;- This oft quoted phrase is not overrated, not at all. Nothing makes a negotiation go down well with both parties, Than where they both leave a meeting, knowing that, not only did they get what they wanted, but that the other party is happy with the way things went down as well.
(10)Thalt know when to invoke the gods of "Walk away power";- Not evey deal is to be had. Not every negotiation is ink on an order book. Sometimes a negotiation lives and dies, as just that. A negotiation. It can never be anything else. It can never know life as anything other than a negotiation that never became an order or a sale. In this case Know when to walk away. Dont let your ego get in your way of seeing the big picture. Desperation is the highway to disappointment. SOMETIMES YOU JUST HAVE TO WALK AWAY.
(2)Thou Shalt always have clarity of purpose ; The seller must always be clear about what they want from the negotiation. For the Seller, this will include his terms and all other necessary benchmarks, under which he can deliver on the negotiated outcome. If he is not clear about this, you then have a situation where a seller ends up compromising his own standards, and sometimes even his profit, because he was not clear what he wanted to begin with, so he was not aware of how to stand firm and achieve it.
.
(3)Thou Shalt alway keep your Questions and Answers clear;- Many a time Sellers answer the question they think a buyer wants answers to Instead of asking and answering questions in a manner that illuminates the transaction and allows all the parties to know where they stand. This only leads to confusion down the line. Keep your questions simple, and your answers to the point. and you waste less time and get to your objectives quicker.
(4)Be Thou aware... Honesty is the best policy;- Do not play fast and lose with the truth. If you cannot meet the standard/quality or the quantity at the agreed time or at the price desired by the buyer, Say so. Statements based on Fantasy serves nobody. This is not a game of wits. Peoples peace of mind is at stake, it does not need to be a game of luck whether a seller can deliver on his promise.
(5)Thou must possess... knowledge, knowledge, knowledge;- This is the single most important attribute that a seller can bring to the negotiation. Have you done your homework, Do you know your product inside and out. Do you understand trends that can impact your product one way or another. do you communicte this product knowledge adequately to your customers so that confidence and knowledge will make you a star performer.
(6)Thou should make Innovation your religion;- are you innovative, cutting edge, and able to deliver to your customers, products that just enable them blow their competition away. This does not need to be anything groundbreaking just a minor improvement on an existing product can make all the difference.
(7) Abhor bait and switch;- Many a time sellers think they are clever by half, and make offers they cannot live up to, and resort to the age old tactics of bait and switch. This only creates a very very sour taste for the buyer. It serves to alienate a buyer because it is very shoddy practice. 9 out of 10 times, the seller will lose the customer and if they do place an order they will more than likely not be repeat customers.
(8)Thou should seek to Go the extra mile;- It does not take much to add value to a customer experience, without any additonal cost to the seller. This is one very very easy way to have loyal customers who will not only vouch for you, and your product, but will be your loyal fan, for a long time to come.
(9) Thou shalt worship at the altar of Win Win;- This oft quoted phrase is not overrated, not at all. Nothing makes a negotiation go down well with both parties, Than where they both leave a meeting, knowing that, not only did they get what they wanted, but that the other party is happy with the way things went down as well.
(10)Thalt know when to invoke the gods of "Walk away power";- Not evey deal is to be had. Not every negotiation is ink on an order book. Sometimes a negotiation lives and dies, as just that. A negotiation. It can never be anything else. It can never know life as anything other than a negotiation that never became an order or a sale. In this case Know when to walk away. Dont let your ego get in your way of seeing the big picture. Desperation is the highway to disappointment. SOMETIMES YOU JUST HAVE TO WALK AWAY.
05 Jan 2008 10:14
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