Podcasts Business Sales Reinvented Flexibility in Negotiation is Key Kristie Jones, Ep #340

Flexibility in Negotiation is Key Kristie Jones, Ep #340

Published: March 8, 2023, 8 a.m.

As a sales leader, you want to prepare for every step of the process. Because negotiation is so far down the sales funnel, it would be a shame to be unprepared and lose a deal because you weren\u2019t prepared. Preparation allows you to think strategically. It also makes you look\xa0professional. Someone\u2019s business was important enough for you to take the time to prepare. So how do you prepare strategically? And what does it take to have a successful negotiation? Learn more from Kristie Jones in this episode of Sales Reinvented!\xa0

Outline of This Episode
  • [0:58] Why planning and preparation is an important step in negotiation
  • [2:08] The key steps a salesperson should take to prepare for negotiation
  • [4:28] The attributes or characteristics that make a great negotiation planner
  • [6:50] Tools and resources to improve your negotiation outcomes
  • [8:49] Kristie\u2019s top three negotiation planning dos and don\u2019ts
  • [11:42] You have to remain flexible in your negotiation preparation
The key steps a salesperson should take to prepare for negotiation

When Kristie is talking to a sales leader, she has them focus on two things:

  • Do your salespeople understand the give/gets? Do they know where they have negotiation power? What is open for negotiation?
  • What is the cost of no agreement for either side? What will you lose\u2014quota, commission? What will the other side lose? Maybe they need to find a new vendor or service. Maybe it\u2019ll impact their career track.\xa0

You need to write down these things. When sales reps do this, they\u2019ll see that they\u2019re on a more level playing field.\xa0

The attributes or characteristics that make a great negotiation planner

If you\u2019ve forged a relationship with a prospect or customer, you should understand their non-negotiables and where their buying power is. You want to make sure you fully understand their position. What are their concerns or problems? Look at contract language, pricing, timing, etc. Everything can be part of the negotiation.\xa0

Self-awareness is also important. If you know you\u2019re meeting with an introverted procurement person, you may have to slow down and focus on details. You need to understand yourself and how you come across. Once you do that, you can adjust your communication style to fit the other party.

Tools and resources to improve your negotiation outcomes

Kristie asks people to sit down and draw a line down the middle of a piece of paper and write down the costs of no agreements. She also has them write down what they\u2019re willing to give to get what they want. So when a negotiation gets stressful, they can have their cheat sheets in front of them. Because when tensions rise and the stakes are high, people start to panic, which leads to bad decisions.\xa0

You have to remain flexible in your negotiation

Kristie is dating someone who lives in another state and works where she lives. She knew that spending New Year's Eve together would be a challenge. But it was important to her. So three months ahead of the holiday, she shared she wanted to spend those days together. She wanted to kick back and watch football together the next day. It was a non-negotiable for her. She gave plenty of notice that the non-negotiable existed.

As the time got closer, and she knew that the negotiation would have to begin, Kristie sat down with him to go over her give/gets. She had them prepared in her head. She brought the topic up at a time she thought was appropriate. She asked what the plans were.

He shared the challenges he was facing, which she had already anticipated. So she shared some viable options:

  • She\u2019d travel to his city (as opposed to him coming to her)
  • She\u2019d give him time with the children and get a hotel room
  • She\u2019d delay the start of New Year\u2019s Eve

Negotiation is a process, not an event. She gave him time to think about what might work. Then they\u2019d get back together and formulate a plan. They ended up deciding that he\u2019d spend New Year\u2019s Eve Day with the kids and spend the rest of the weekend with her. Everyone was willing to give a little to get a little.\xa0

But what happened next? Listen to the whole episode to find out why flexibility in any negotiation is key.\xa0

Connect with Kristie Jones Connect With Paul Watts\xa0

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