14 Negotiation Secrets to Always Get What You Want

one of the highest leverage skills you can Master is negotiating in today's training I'm going to teach you 14 easy negotiation secrets to always get what you want in every deal hey I'm Mark Shan founder of Ving consulted group in which we train and Coach Tech sales and bdb sales Pros like you to blow out your sales targets earn A4 million to 500k plus and become the lead sales Pro you've dreamed of now I've won thousands deals over my almost two decade career but I've also lost even more because I simply had not mastered these

easy secrets and we say the very end you'll learn my top secret allows you squeeze even more out of the deal while the prospect happily agrees let's dive in number one understand the buyer's motivation early effective negotiation starts with deep Discovery uncover the buyer's true motivations and pain points to create leverage later in the process the more you know up front the better you can see the conversation on the back end it's going deep and that's why I even created the powerful framework that's uncovering the P the pain o the opportunity cost or cost of

an action the W the wants needs and desires at a micro macro level the E the executive level influence and buying process the r the resources or funds required to implement the F the fear of failure or doubt the U the une equival trust and the L the little things standard buying criteria if you understand what drives them at a deep level you can leverage this when you're negotia at the very end number two cultivate multiple stakeholders don't put all your eggs in one basket building relationship with multiple stakeholders reduces your risk if one of

your contacts goes sound becomes resistant it also gives you allies when negotiations get tough and you want to focus on developing real champions that have pick that's power influence and credibility and they must be willing and able to sell on your behalf when you're not in the room number three engage the decision maker directly early in the sales process you must multi-read engage the economic buyer use this time to line on the value your solution provides with them on how directly benefits them and their biggest initiatives and set expectations for negotiation phase because if you're

engaging with them and you're trying to negotiate lower level stakeholders you'll have little leverage to actually close number four sell before you negotiate so the mistake a lot of people make is they try to negotiate working out pricing terms conditions whatever way too early meaning until you name the preferred preventor your focus should be on selling why you are the best choice otherwise whatever deal terms you get down to can be used against you to get better terms with other competitors so let me give you a really simple example this is years ago I remember

I was really really excited had this great opportunity it wasn't a big opportunity maybe 20 or 30k but I felt like a great Rapport I ran the Sal relatively well and I was waiting to hear back from them and the stake decision maker the actual owner of the company emailed me and asked can you take off 10% now I knew within my own the selling we had our company that I could do up to 20% so so I was excited and I immediately reply back yep I can do that can we can we meet up

and take care of the paperwork you I'm all fire I'm really excited and of course as you can probably imagine did not hear back the next day or the next week or so I called I emailed I text I could not get a hold of this guy and finally this must been I don't know maybe like a month later I finally get an email back and he basically had went with the competitor and ultim I found out that he basically had taken the pricing I had given him a 10% discount and he went to the

other competitor and he basically got the same deal and went with him instead and this is a good example of where I did not sell well up front I actually lost the deal because I was not preferred vendor so you want to sell first and secure a number one spot first before actually negotiating real negotiat come after you establish this position number five involve your champion in negotiations so let's just say you're in a negotiating meeting with your prospect CFO if you have a champion champions in the opportunity bring them on the call work together

and build a plan to win the deal to get the CF on your side in advance when you bring a strong Champion into your negotiations it can shift the balance in your favor they understand the value of your offering and can Advocate on your behalf against procurements pressure number six reiterate the value before discussing final pricing begin every negotiation by revisiting the business value your I personally recap the following order you know what we uncovered the biggest problems the desired outcomes the overall cost of action the solution pricing this sets the stage and reinforces the

cont of how big their problem is and why the investment is nominal in comparison for instance if I'm working in the sales VP and we've uncovered upfront their currently losing $5 million a year in loss deals and a low win rate based on what they told me well if I'm sharing a 50k training engagement to solve $5 million problem it's far easier to justify number seven pinpoint point the exact reason for Price resistance so it's not uncommon especially in today's time to get the objection hey your price is too high can you do a lower

price now instead of immediately trying to justify it instead seek to understand for instance can you help me understand what's driving the specific pricing ask this opens up the conversation and often reveals whether it's a genuine concern or just a negotiation tactic for instance add a 200k deal and the prospect ask when you find a way to get down to 50K now if I just took that face value that would appear to be like a 75% reduction so instead I dug in and found out he had 50k left in his current fiscal year budget but

another 200k in the next year which started in 3 months by understanding that it helped me realize it wasn't a pricing objection but more of a logistics objection of figuring out payment terms by diving deeper we able to come to terms of Bill up 50k this fiscal and spread out the remainder 150k after the new fiscal year start three months later this is the power of uncovering the why behind the ask number eight establish your walkway point in advance before negotiations start know your bottom line know the lowest price one or terms and conditions that

you're willing to go down to get the deal if you don't have a predefined walkway point you risk agreeing to potentially unfavorable terms in heat of the moment but also keep in mind that doesn't have to be your immediate price you drop to for instance when I was working we had pricing flexibility go down 20% on pricing and down to 36 months on term so intentionally our pricing is out 10% above the standard price this now gave me a 30% buffer to actually work with I can negotiate down 10 to 15% and still be far

ahead because of that buffer in term I leave with 72 months AKA six-year terms knowing at anywhere from 36 to 17 months to actually land so know your walkway point in advance but be aware you can negotiate anywhere in between number nine keep asking questions when you're uncertain during negotiation fall back on asking questions this keeps a dialogue going and that can often lead new insights that can help you close the deal so here's some really easy props you may want to write down can you elaborate on that when you say x is important can

you tell me more what do you mean by that exactly so seek to understand the why behind the why number 10 frame the conversation around outcomes not features one of the biggest mistakes most make is they hop on a call to review a proposal or pricing with the prospect but the entire Focus it's all on pricing and deliverables so any discussion on value has been forgotten so instead start the conversation towards the outcomes Your solution delivers rather than getting bogged down with features and that sounds something like this hey so Lisa in our conversation last

week you had shared that your team currently a 5% win rate with Enterprise deals which is ultimately leading to a $5 million in loss deals just in the past 12 months is that right boom so the focus of our train solution it will be to help your team scale up and to increase your win rat to a team average of a conserved 20% Which will generate $2 million in digal Top Line and 800k in bottom line and we're going to do it by focusing on target Three core skills powerful Discovery masterful demos and deal management

Mastery so you can see in this example here I'm Shifting the focus away from features of cost to actually pure value which makes it harder to argue over price number 11 use silence strategically silence is one of the most powerful Tools in negotiation when you sense hesitation or push back don't rush to fill the silence just pause and ask a clarifying question like I mentioned prior then shut it let them speak as they may reveal critical information or concen more than you expect or sometimes they'll even start talking themselves into as they process it mentally

number 12 negotiate nonmonetary terms sometimes monetary terms aren't the only negotiable aspects consider offering flexible payment terms additional support or a pilot program as part of negotiation these can create add of value for your buyer without reducing your price the key is walking into the knowing what leverage you can pull if needed for instance I have this 50k deal and I could tell this Pro was just one of those people who loved to negotiate I'm sure you probably have had some more prospects like literally always wanting more now because I was really firm my price

and you my walk away point point I was able to offer a free trial premium features up for up to 30 days not only you take me up when we close it we upsold the preium featur 30 days later as he loved it so much so as a really easy action just take 20 minutes and brainstrom all the gives that you can give as they may help you secure the deal number 13 anchor the negotiation with high starting point set the stage by anchoring the conversation with a strong initial offer you heard my example earlier

actually going 10% above the standard price and to start along with a six-year term this gives me a lot of room to make concessions while still landing at a favorable and profitable deal you can do the same thing from pricing terms onboarding fees or whatever your creative mind comes up with number 14 build reciprocity into the negotiation now let's be real here there will be time that you will need to concede on something this could be price terms extra things whatever but here's the thing when you do concede on something always ask for something in

return so you want to clarify first that's the only thing holding them back so that sounds something like hey John so if I understand you right if I can trim off 10% you're ready to take care of the paperwork and partner together is that right let's assume they say yes okay got it listen I'll only do under two conditions number one we take care of the paperwork today we start helping your team Crush it and number two you T an intro email to Melinda your VP counterpart on the M Market teams to refers or train

their teams are you good with that boom very very simple now again whatever you ask for can be anything this could be increasing length of agreement receiving referrals or like in my example introductions to other divisions departments for expansion this creates a sense of balance of fairness in the negotiation ensuring both sides feel like they're winning even small concessions can be leveraged to secure bigger wins so there you have it 14 negotiation secrets to always get what you want if you want our help to help you negotiate and close more deals head below book call

to my team so we get good for our coaching programs and if you want to see exactly how one of my clients is negotiating massive deals and earning 100K commission checks like Clockwork I'll see you next video right here