Nothing beats a great proposal: one that meets a deep need of the other party; that clearly describes a meaningful, tangible and critical benefit; and that makes absolute financial sense.
But even if you’ve got the pitch nailed (and more so if you haven’t), how often do you find yourself haggling over the small print, getting chipped on price, and giving away profit to close the deal? Of course: that’s how negotiators behave. You say ten, they say five, you puff out your chest and say ten... or nine. We all know that, and so the world turns.
But does it have to be like that? How could you get ten every time?
Ten Every Time:
There’s a simple, powerful way that you can take control of the close, protect your margins and home in on the most value-creating deal. Propose a great set of options.
A great set of options immediately achieves three things.
1. It creates a powerful mental shift from “how much” to “how”
2. It establishes the principle of value. “If you want to spend less, there’s the low-cost option. If you want the full deal, that’s the full-deal price”
3. It crystallises what is important to both parties: “We want that and that, but can live without that”
Great Options:
Great options are distinct, attractive, and equally viable. Some cost more than others, but you should be happy to close on any of them, and crucially, they each make compelling financial sense to both parties.
PROVIDE OPTIONS: When you both want to work together but need to agree terms; when there is a bigger relationship value to be had
DON’T PROVIDE OPTIONS: When it’s a commodity, low value deal and the relationship value will always be low