The problem with most negotiation training approaches is they often fail to account for the nuances of a sales negotiation based on value. In this episode, Tim Caito, Senior Partner at Force Management, joins John McMahon and John Kaplan to discuss competencies and common pitfalls associated with negotiation.
The conversation covers the perception of power and emotions, early preparation and value-building throughout the sales process, the role of champions in negotiation, handling give-gets and package options, and many more negotiation topics. Learn how these concepts apply to your sales team and the current economic environment in this episode of Revenue Builders.
Here are some key sections to check out:
01:58 Introducing Tim Caito, Senior Partner at Force Management
05:47 Time, Power, and Knowledge in negotiations
09:46 The power of emotions and perception of power
14:40 Perceptions of value vs. better alternatives
21:00 Power and knowledge and the power of champions
28:38 Negotiation is a process, not an event
56:03 The concept of multiple options
Additional Resources:
QUOTES
Tim - Negotiations are a battle of perceptions: “In a negotiation, the side that is perceived to have the better alternative is perceived to have more power, and the science and negotiation are pretty clear on this, the side that is perceived to have more power almost always captures more value in a negotiation.”
Tim - Start negotiating before they believe you’re negotiating: “Start the negotiation process before the other side believes we're negotiating, and the good news for our sellers out there; when you are executing an effective sales process, you're simultaneously executing a negotiation process, you just got to be aware of it.”
Check out John McMahon’s book here: https://www.amazon.com/Qualified-Sales-Leader-Proven-Lessons/dp/0578895064
