Nov. 7, 2019

17: Concede slowly and in small amounts


So you have to make a concession, what does the research say about how you should do that? Mahan Khasla and Randy Illig give a golden nugget in their book Let's get real or lets not playSupport the show (http://www.unstoppable.do)
Transcript
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So you have to make a concession. What does the research say about how you should do that? Mohan kasla and Randy Eila give a golden nugget in their book. Let's get real

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Welcome to the bite-size sales podcast where we believe that sales is the most important team and a B2B company, that the sales team deserves great sales skills training, but usually doesn't get it. And that taking bite size steps each day to get better at your craft is the best way to improve results. I am your host Andrew Monahan , and I'm using my experiences and B2B sales to bring you simple actionable ideas every day to help you get better

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So you are down to the negotiations on your deal. It came to month and a quarter end and you're gonna have to make a concession to get it in booked on your timeline. Man, Cosla and Randy , Eileen say in their book, let's get real or let's not play conceit . Slowly concede in small amounts negotiation. Research shows that people feel just as good winning small concessions as they do large ones. As long as those concessions were difficult to achieve, we should negotiate accordingly. The tradeoffs mentioned in the previous section covers small reductions in price, not large ones, large variations in price. Our selling problems, not negotiation problems. So that's just straight from the book. Um, I should say that later on in the chapter they do say yo never give something for nothing. So that's kind of one of their key tenants. But in this one paragraph they talk about the idea that as long as people fight for a concession, I'm a small one, has as much value as a big one. And this is, this is kinda interesting, you know, in my experience going back over the years, especially in the software world where margins are big, giving up, know decent size or bigger concessions is often seen as as a way just to get deals done or , or, or to , um, you know, speed up processes that we get things done in our timeline. And it's interesting to me that , uh, in the research that they talk about that, you know , perhaps in the past we could have actually given up last and gotten the same outcome. Um, so giving them small amounts or making it hard, do it slowly so you know, a bit more back and forth maybe . And it's going to test your resolve that month then or quarter end . Um, cause you're going to be a little bit keen to get it in , in your timeline. So positioning it is going to be important. But , um, you know, I completely get the idea that getting the deal done and , and , and moving on so that we , uh, we get things done in our timeline, but this is eye opening in credentialing. They say, well, you know, going forward, is there something that we could do a little bit differently and have our negotiation strategy based on giving small incremental concessions , uh , that are hard won by the buyer rather than trying to speed things up by giving bigger ones to get things done. And I think that's the key takeaway. Next. A deal that you're going through and you're building out your negotiation strategy. Think about hard won small

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The episode is sponsored by unstoppable dot. Do most sales teams are not trained effectively in the skills and mindset they deserve and these are the most important people in the company. It's no wonder that only about 50% of reps make quarter every year. Unstoppable is a service that helps sellers and leaders get great at the skills and mindset they need without taking time out of the field. It exists because if the sales team has the right skills and mindset, they thrive, they're confident

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and do , perform much better, find out more and even get a free sales book@bitesizesales.com

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and no to wrap up as Thai fag, SVP sales at Tanium may or may not have. Once that training with our implementation is just entertainment and pretty poor at your table when Monaghan does it. So make sure you take action on what you learn and keep getting better every day. This world does not need more sales BS, so don't great anymore. Be great at the fundamentals. Be honest, be real. Be yourself. Just do not be us. And finally, I'm setting off as the great Joe Sexton word by saying, going to sell

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