Sales negotiations can go awry quickly, and in any number of ways. While there’s no surefire way to barter a positive outcome, avoiding a handful of common mistakes can decrease the likelihood of the negotiation getting derailed. In a blog post on HubSpot.com, sales management consultant Jeff Hoffman shared the four worst mistakes reps make when they negotiate.
1. Not negotiating with signing authority. Identify the ultimate decision maker early on or you may be subjected to several rounds of negotiations, each with its own concessions.
2. Saying “This is my bottom line.” The more limitations you introduce into a negotiation, the less likely it is to be successful. Keep hard restrictions to yourself if at all possible.
3. Negotiating too quickly.
The longer people are engaged in a healthy negotiation, the more likely both parties want it to end favorably. Slow the discussion down and build in some intentional silences.
4. Not building in new concessions. No one wants to feel like they have lost a negotiation. Strive to guide the negotiation in such a way that there is no loser — just two winners.
