• Daily Sales Reset
  • Posts
  • Ready, Set, Negotiate! Prepare, Propose, Bargain, & Conclude Your Way to Success!

Ready, Set, Negotiate! Prepare, Propose, Bargain, & Conclude Your Way to Success!

Your proven recipe for Win-Win negotiation success - Friday 8 September

Hello Subscriber,

Through this week, we’ve introduced a range of key ideas about negotiation.

Today, we’ll pull it all together as we look at the 4 stages of structured negotiations:

  1. Prepare

  2. Propose

  3. Bargain

  4. Conclude

1. Prepare

We’ve looked together at how we’re negotiating all of the time at every stage of the selling process. Yesterday, we introduced the idea of Salami Slicing.

And it’s all to do with preparing for the negotiation that almost inevitably comes as we head towards the conclusion of an opportunity. Or at least, there should be a negotiation!

Through your 3CSelling conversations with your customers:

  • You’ve coached them about the outcomes they’re seeking.

  • Together, you and the stakeholders within your customer have co-created proposals.

  • All the way through the process, you’ve concluded every conversation with agreed next actions.

All of this is terrific preparation for the negotiation of the contract that wraps together the range of elements of your negotiated agreement.

2. Propose

If you’ve avoided being Salami Sliced as we discussed yesterday, you’ve now got your lists that we looked at on Tuesday:

  1. What might cost me little but could be valuable to my customer?

  2. What would cost me a lot and might not be so valuable to my customer?

  3. What might cost my customer little but will be valuable to me?

  4. What could cost my customer a lot but might not be valuable to me?

In the Propose stage of your negotiation, you propose a framework of negotiation elements. What are you proposing to give in return for what are you proposing that your customer gives?

If you’re working with a trained negotiator, your customer will then share their proposed framework of negotiation elements.

3. Bargain

During the bargaining stage of negotiation, it’s all about suggesting different combinations of negotiation variables that balance costs and values to each party differently.

This can be a hugely creative discussion as you and your customer wrestle with ways of putting together an agreement that works for all parties.

In simple situations this can take minutes. And in big-ticket, complex opportunities, it might take weeks of intense and challenging bargaining!

The secret to success lies in your awareness that Win-Win comes from exchanging things that are valued highly by them that cost you little. In return, you’re seeking things that cost them little and are valuable to you.

4. Conclude

You’re aiming to reach a Win-Win agreement that delivers enough for everybody to be satisfied.

Take care at this stage to ensure that you really have covered all the key areas of the required agreement. It’s all too easy for things to emerge late in a negotiation that had not been discussed earlier.

That’s why it is crucial at this stage that you agree to nothing in isolation. Keep the whole negotiated package in mind at all times.

For readers who are familiar with all of these principles, I know that you’ll feel right at home with these proven principles of structured negotiation. Today’s email is hopefully a valuable reminder.

If this is your first introduction to structured negotiation, this might all feel a bit overwhelming.

But now that you know what’s involved, there’s lots to learn about and practice!

Here’s one area of practice to emphasise today

Use the proven negotiation process of Prepare, Propose, Bargain and Conclude in your next significant opportunity

Coaching Focus

  1. Choose a significant opportunity and develop a plan for the negotiation.

  2. Meet with your sales coach or sales team leader to review your plans and practice in role-play.

If you have questions or comments, it would be great to hear from you. Just hit reply and send me an email.

Have a great day!

Founder & Leader

Can you help us to find more subscribers?

  • We’re on a mission to turn conventional sales training upside-down and inside-out. We want everybody in sales roles to put their customers’ success at the heart of every selling conversation.

  • If you share your unique personal link below in social media posts or messages, we’ll happily give you referral rewards.

  • Simply click the image or button to see the available rewards and how many subscribers you need to qualify.

  • Thanks!

Subscribe to keep reading

This content is free, but you must be subscribed to Daily Sales Reset to continue reading.

Already a subscriber?Sign In.Not now

Join the conversation

or to participate.