The Painless Negotiation
What you'll learn
- Identify and avoid the four common negotiating mistakes.
- Develop and target a Great Deal that is the right deal for both you and the customer.
- Identify and analyze the customer Alternative you are negotiating against.
- Determine which side has the power, who really needs the deal, and whether you can win the business.
- Develop a Negotiation Plan that Anchors on the “right negotiation.”
- Negotiate the “right way” to effectively manage customer negotiation tactics and keep the value in the deal for your company.
- Students should be familiar with the basic fundamentals of B2B sales such as how to plan a sales call, sales process, etc.
The Painless Negotiation is an interactive course that addresses one of the critical pressure points in closing any B2B Deal - and that is the "Negotiation." Throughout the course you will be applying new concepts to YOUR real Negotiation.
Too often we view the Negotiation as a single event that occurs when we are "across the table" from the Customer (perhaps Procurement), when in reality we should have been Negotiating throughout the entire sales campaign. To make matters worse, we are typically not prepared to negotiate and this "event" is happening late in the sales cycle in a "crisis mode." These are two things that Procurement Professionals are counting on and will exploit to their advantage. This often results in long drawn out negotiations that are painful at best, but usually result in bad Deals and/or slipped Deals.
In this course, you will learn how to:
Identify the four Common Negotiation Mistakes (and how to avoid them)
Ensure you are aiming at a Great Deal for yourself and the Customer (after all, who wants an average Deal?)
Manage the always challenging Internal Negotiation within your Company (it's often the toughest part)
Determine which side really has the Power in any Negotiation (so you don't give too much away)
Set up the ""Right Negotiation" (it's always easier to negotiate when you're negotiating the right things)
Negotiate the "Right Way" (increases the odds of closing a Great Deal and solidifies the long-term relationship)
Develop a Negotiation Plan and manage Customer Negotiation Tactics (you know they're coming, so why not be ready for them?)
As you learn and apply these concepts your understanding of how to better sell and position deals will also increase. And closing more deals, closing them faster and making them better deals is what makes the most successful salespeople!
Who this course is for:
- My target students are interested in advancing their sales and professional careers by learning to become competent negotiators - particularly when negotiating with customer’s purchasing or procurement departments.
My name is Steve Thompson, and I am delighted to be your instructor for this course! To help you understand where I am coming from, a little bit about me. I am an expert in getting B2B deals done while maximizing the value to both parties. For over 20 years, I have personally coached thousands of B2B deals worth well over $17 billion – for both B2B selling and buying organizations. My diverse clientele represents dozens of industries and businesses from the Fortune 500 to technology startups. Clients have sent me to work in every major business center around the globe. When I receive a call from a client, it is almost assuredly a “must-win” deal that is in trouble – and it’s my job to help salvage this deal.
Helping clients understand what “value” really means to them, their key customers / suppliers and their businesses, is my passion! Having the unique perspective of participating in large B2B deals from both sides of the table, I am frequently amazed (and sometimes frustrated) by the question “Why do so many buyers and sellers routinely settle for low value deals or fail to reach an agreement?” This is especially true when there is tremendous value for one side (or both parties) that is not even brought into the selling or buying discussion – or arguably worse, is lost during the negotiation.
I have previously worked in senior operations, sales and executive management at Westinghouse, Black & Decker and DuPont. I've started several businesses, one of which was a family owned bottled water company that was sold to the largest Japanese beverage company. I also served as a Nuclear Submarine Officer in the U.S. Navy right after college. I hold a BS in Chemistry from Georgia Tech and an MBA from the Kellogg School of Business at Northwestern University.