The Key to Successful Negotiations
Published on August 20, 2007
If you don´t know your Points of Power, how can you stay strong in a negotiation? Points of Power are defined as the strengths you have in a certain negotiation and using that power provides the ability to negotiate a deal that is favorable to both parties
Points of Power include:
- Timing—If the customer needs to conclude a deal now and you have the ability to meet all deadlines, that is a Point of Power in your favor.
- Demand vs. Supply—The more demand there is for your product, the stronger your position.
- Ability to Take Risk—-If you can’t afford to lose the deal, even if it is not favorable, you are dealing from weakness. You must have a strong pipeline so you can afford to walk away from deals that do not make sense. The ability to risk losing the deal is probably one of the strongest Points of Power you can bring to any negotiation.
- Expertise— Customers are always looking for up-to-date information on trends, market conditions and product/service knowledge. If you possess expertise that your customers rely on, that is a Point of Power.
These are just four of the Points of Power that will strengthen your hand in a negotiation. To learn the rest, order your copy of Power Negotiations or reserve your seat at the next Titan Sales Boot Camp