Negotiation levers
Let’s talk about negotiation during the sales process.
Some of us are familiar with the work of Chris Voss and his team over at the Black Swan Group where they eat, breathe and sleep negotiation tactics on the psychological level.
In this post, I wanted to address something extremely basic, easy to action, but really impactful.
It’s your negotiation levers.
What are negotiation levers, you ask?
If you think about a lever, like on an electric box in your house, if you shift one of the levers there’s something that happens on the opposite side. It turns on or off the electric to different parts of your house.
Similarly, when we’re negotiating, we often forget that if we are offering to shift a lever for a prospect, let’s be real -- multiple levers often, there needs to be something that happens on the opposite side.
So what are the levers you’re exchanging with your prospect?
Timing.
Payment Terms.
Payment Amount.
What are the negotiation levers that work well for your buyer?
Since this part of the process often requires some level of creativity with the prospect, it’s great to have an internal doc where salespeople have visibility into different levers that have helped their buyers buy and develop a strong partnership.
What are some creative levers you’ve come up with to drive urgency and get your deals closed?