Concession Strategy in Complex Negotiations–Planning Your Give-And-Take: Part 2
In “Concession Strategy Part 1” we explored what goes into a concession strategy, the importance of detecting your counter-part’s approach to negotiation (collaborative vs. competitive) and four guidelines for conceding. In Concession Strategy Part 2 we’ll focus on the five skills you should develop or refine to become a better practitioner of “win-win” negotiations. It […]
Concession Strategy in Complex Negotiations–Planning Your Give-And-Take: Part 1
Consider this situation. Your manager offers you a newly created sales management position that includes an increase in salary and a $30,000 bonus. As you reflect on the offer you realize that if you earn your bonus, your total compensation will increase but not markedly since you are paid a salary plus commission now and […]
Best Practices with Strategic Accounts
For every sales organization there are very large accounts that require extensive company resources. Whether you call them “key, national or strategic accounts” does not matter. Loss of even a single important account would create a significant revenue or profit shortfall that would be difficult and time consuming to replace. For many sales executives, effective […]
Do’s & Don’ts for a Successful Negotiation
Background No matter the complexity or size of the deal, there are certain Do’s and Don’ts that you should follow prior, during and following the negotiation. Your goal should be to reach a compromise that is fair and equitable to both parties. Remember–if you close the deal both parties will be partners. Negotiate a win-win […]
Handling Disruptive Negotiation Tactics: Defusing Anger, Threats & Ultimatums
During the lunch break for a recent negotiation workshop a participant asked “How do you handle a customer who seems friendly during the sales process but turns into a monster when negotiating?” He shared with us a story of a mild mannered executive who was engaging and value-focused throughout the sales process but became aggressive, […]
Three Deal Killing Blind Spots in Negotiations
One factor common to all sales professionals is the nagging suspicion and doubt that surfaces in our thoughts as we approach negotiating a close to a major deal. Have I answered all my customer’s questions? Is my price low enough or has someone else brought in a low-ball number at the last minute? Can I […]
The Sales Representative’s Checklist for Collaborating with Procurement: Part 2
Do you see view procurement as a threat and necessary evil that must be managed carefully on each sales opportunity or do you view them as an ally that can help you facilitate the procurement process? Last week in Part 1 of this blog we described the changing role of procurement and the lens of […]
The Sales Representative’s Checklist for Collaborating with Procurement: Part 1
Do you see view procurement as a threat and necessary evil that must be managed carefully on each deal or do you view them as an ally that can help you facilitate the procurement process? In Part 1 of this blog we will describe the changing role of purchasing and describe the lens of how […]
Selling to a Not-For-Profit Hospital? Could Endowment Funds Help You?
Most MedTech sales professionals don’t realize that when selling to a Not-For-Profit (NFP) hospital the funds for the purchase of their product, service or solution may come from the use of Endowment Funds. There are two types of funds: Permanent Endowments are those that have been restricted by donors and are monitored by the hospital […]
Sales Call Preparation is for Amateurs & Rookies!
Let’s be honest most of you reading this missive don’t routinely plan for sales calls and you haven’t’ written out a sales call plan in years. This is not meant as a criticism. It’s just fact, based upon our experience and informal polls in working with sales organizations all over the world and in a […]
