How to Negotiate in Sales? | 5 Powerful Negotiation Strategies for Your Business!

no no no no no your price is too high

what are you saying we've got a proposal

from a competitor for a letter of price

now these are words that any business

owner and any sales professional dreads

negotiation that's one thing we all hate

as business owners but we love to do

when we are customers so in this video

i'm going to share with you five rare

negotiation tactics that can help you

protect your interest while you are in a

sales conversation with your customer hi

my name is rajeev tal raja and as a

business coach i work with thousands of

entrepreneurs in helping them design

sales processes where they are able to

close deals in a win-win-win manner

where the customer wins and the business

owner wins and make sure that the

business wins by making a good amount of

money so in this video i'm going to

decode for you what do you need to do

when your customer comes after you

aggressively with a need to get a better

deal and then negotiate sometimes even

without any logic or rational so make

sure you watch this video till the end

and make a lot of notes during the video

and towards the end of the video i have

a special invitation for you to continue

the learning journey with me so that you

can take your business to the next level

so let's get started with understanding

five rare negotiation tactics that work

in the real world that you need to learn

and you need to apply in sales

conversations with your customers

the first key negotiation tactic that

you need to do

is prepare

yes you heard me right i said prepare

which means negotiation starts even

before the negotiation meeting starts

negotiation starts with preparation if

you do not prepare what is your offer

what is your boundary price below which

you will not take the deal and what are

your variables which you are willing to

give away in a negotiation if you do not

have clarity of these things and you

walk into a sales meeting or a

negotiation conversation it's like

walking into a boxing ring without

wearing the boxing gloves you're gonna

get beaten black and blue if you have

not prepared what are your variables to

give away and what is your boundary

price below which you will not take up

the project so the first negotiation

tactic that can protect you is

preparation so make sure you prepare

walk in with clarity what are you

willing to give away and you got to be

willing to give away something and what

are you not willing to give away what is

the threshold of your offer below which

you will walk away from the deal saying

guilt-free i don't want to do this

project so preparation is the first

negotiation tactic that protects

business owners and sales professionals

from hard negotiating clients so make

sure you prepare

the second negotiation tactic is sell

value not price

what do i mean by this when you are in a

negotiation conversation with your

customer your customer is constantly

attacking your price they're constantly

telling you your price is high

competitors are offering it at much

lesser i am getting it for a cheaper

cost outside in the market they are

attacking your price now when they are

attacking your price and you start

defending your price then it's a lost

battle because you are not on the

offensive you are on the defensive now

and you will have to give in to their

offense while they are attacking your

price

while they are talking about price you

shift the orbit of the conversation and

you sell value don't talk about the

price sell the value of what you are

offering sell the benefits of your

product or service and attach your price

to those benefits value the value of the

benefits of your products or services so

if a customer tells me rajiv your

business coaching fees is very very high

i wouldn't even address that i would

just say hey listen

for an entrepreneur to be able to set up

the profitable scalable business model

which can take their business to the

next level for an entrepreneur to create

marketing strategies and systems where

they can generate leads consistently in

their business and for an entrepreneur

to design a sales process where they are

in control of the sales process and they

are able to close deals in a win-win

manner and not giving in to the whims

and fancies of their customer and for an

entrepreneur to learn how to hire the

right people build a second line of

leaders build process systems and

structures so that day-to-day activities

are running seamlessly in their business

you tell me what is the value of

something like this

that we bring as a coach

a fair thinking entrepreneur would be

willing to give equity and partnership

for us to be able to do these things but

we believe equity should be held by the

entrepreneur and that's why we charge a

services fee only

now watch

i didn't go into no but our price is

justified no i spoke value

and that value of that value is what

will sell

for me

it's not about justifying the price so

in a negotiation always focus on the

benefit to the customer of your product

or service always sell the value of your

product or service don't get stuck in

price discussions and price debates

because that's a meaningless battle so

that's the second critical negotiation

tactic for you to keep in mind the third

negotiation tactic that many business

owners and sales professionals ignore

is giving

now you must be wondering what do you

mean by giving rajiv

yes what i mean by giving means you got

to be willing to give away something so

that the customer feels happy so that

the customer feels that you're coming

forward so that the customer feels

victorious and they feel a sense of joy

in purchasing whatever they are buying

from you look good negotiation does not

mean that you get what you want and you

don't give anything to the customer in

such a situation the sale will be a

bitter sale where the customer will feel

like they were overpowered by you and

you don't want your customer to feel

overpowered you want your customer to

feel happy so you need to give in a

negotiation so be clear about what can

you give can you give a lower price can

you give some value added benefits can

you give some extended warranties can

you give some free shipping you need to

be prepared with what can you give which

will be of value which will make the

customer feel that you're forthcoming

and make the customer feel that they

also got something out of this

negotiation conversation now this is a

rule and a principle that is ignored by

so many people because they think

negotiation is this magical mystical

capability of just getting what you want

and not giving anything to the customer

i disagree to that a good negotiation is

a negotiation where there is giving

happening on both sides they are coming

forward and matching your offer price

and you are going forward and giving

them some value addition for the price

that you are quoting so that they also

feel victorious it's important to make

people feel happy at the end of the

conversation and not feel overpowered so

make sure that you are giving in a

negotiation which brings me to the

fourth important negotiation tactic and

the fourth important negotiation tactic

is a principle that you need to

communicate to your customer and a

principle that you need to stand by in

in a negotiation conversation and that

fourth negotiation tactic is win-win or

no deal you need to educate your

customer and you need to tell them it

has to be a win for them it has to be a

win for you and if it is not a win-win

for both of you or either of you then

it's okay to not go ahead with that deal

and still continue a professional

cordial relationship as friends where

the relationship can be nurtured and

future projects can be explored it

should either be a win-win or it should

be a no deal when you ground yourself in

that philosophy and you educate that to

your customer in a negotiation

conversation that helps you to anchor to

the customer every time they're pushing

you beyond your boundary you can remind

your customer and say hey listen i told

you clearly i want this to be a win-win

conversation and a win-win deal if not

i'm okay with a no deal you got to be

willing to walk away if you are not

winning because when you are willing to

walk away when you are not winning the

customer understands that they've pushed

you beyond your threshold and they

reconcile and they come forward as well

so remember to educate your customer and

constantly remind your customer in a

negotiation conversation that it should

be a win-win or no deal and you got to

be comfortable with the no deal and

letting them know that you're happy to

maintain a cordial relationship just

because the deal didn't go through

doesn't mean you will stop communicating

with them or to them so win-win or no

deal is a powerful anchor to use in a

negotiation conversation which brings me

to the fifth and final negotiation

tactic and the fifth and final

negotiation tactic is not something that

you do in a negotiation conversation

it's something that you do as a business

if you want to be

extremely confident in negotiations and

you don't want to compromise on your

profitability

then

as a business you need to do marketing

consistently

marketing is the best solution to

protect yourself from customer

negotiation now if you're wondering how

rajiv how does that make sense listen to

me carefully when you do marketing

consistently in your business you

generate leads consistently when you

generate leads consistently you have a

pipeline of prospects who are willing to

buy your products or services and when

you have a pipeline of prospects who are

interested in your products or services

you have confidence as a business owner

and when you have confidence because you

have a pipeline you can hold your price

point and let your customers know

respectfully that this is our price we

don't work below that and when they see

that confidence seven out of ten

customers buy at the price that you are

offering and they dare not negotiate

with you

marketing is a powerful way of

instilling confidence within yourself

which gives you the conviction to hold

your price and earn the profits that you

deserve to earn so this

is a big hack and if you hack this hack

of marketing consistently trust me

negotiation conversations will not scare

you because you are sitting with

confidence and conviction of a pipeline

of leads so make sure you do marketing

consistently to protect yourself from

unreasonable negotiations of customers

who are not willing to value the value

of your products or services so these

are the five rare negotiation tactics

that you could use starting from today

in your business in your sales

conversations to protect yourself from

the bad habits of the customers of

unreasonable negotiation and to uphold a

win-win deal so that you get what you

deserve out of that process of selling

so make sure you use these five

negotiation tactics and come back and

tell me in the comment section below how

are they working for you because at the

end of the day i do what i do and i

teach what i teach because i want to

make a bottom line difference to your

business and if you found this video

useful then make sure you subscribe to

my youtube channel because i keep

creating valuable content for

entrepreneurs that they can apply in

their day-to-day business to take their

business to the next level so click on

the subscribe button and lastly i told

you i have a special invitation for you

when i started this video so here's my

invitation for you if you enjoy learning

from me and you resonate with my method

of teaching i want you to click on the

link below and register yourself for my

upcoming four hour live training called

the business breakthrough seminar the

business breakthrough seminar is a four

hour training that i do to help

entrepreneurs build a business which can

grow without them yes you heard me right

i help you build a business which can

grow without you because most

entrepreneurs are stuck in the trap of

day to day fire fighting and when they

are stuck in the trap of day-to-day

firefighting they are not able to focus

on growth and expansion so i break down

for you in those four hours what exactly

you need to focus on what exactly you

need to build so that you can set up

your business in a manner where it can

grow without you and you're not involved

on a day-to-day basis so click on the

link below register yourself for the

business breakthrough seminar i look

forward to seeing you there at the

business breakthrough seminar

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