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Negotiating on the First Tee (Part 2)

Posted by Tony Cole on Fri, Jun 19, 2020

In Part 1 of "Negotiating on the First Tee, we discussed the practice of negotiating with your prospect before you begin your presentation.  In Part 2, we continue this discussion and add more to the conversation.

In order to increase sales and close more deals, you must understand the client's business strategy, build a strong foundation for negotiation, and cross off all the boxes for a killer Sales DNA.

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  1. Establishing the ground rules for time of presentation are critical. Before we get to that though, you must have a transitional discussion
    • "Let me take a minute to review where I think we are..."
    • "You have the following issues a,b, and c that if not taken care of within this time frame will cause the following to happen and this outcome is a have to fix problem"
    • "Your capacity to invest time, money and effort to fix the problem is this…"
    • "And I’m assuming for a minute that if we are able to fix this for you, in the budget you’ve identified with the right criteria and priorities, you would also want me to be in a position to answer any and all questions at that time"
    • "Did I get this right?" (Buyer says yes)
    • "Good, assuming we can do this I will be prepared to do all those things. If I can’t, I will call in advance and cancel our presentation meeting.  Fair?" (Fair)
  2. Ground rules discussion:
    • "It may not be effective here, but there is a process that we recommend to make sure we are all on the same page, can I share that with you?" (Yes)
    • I need for you to be prepared as well:
      • "As I am going through my presentation, you will be thinking one of 2 things: 1) this makes all the sense in the world; let’s do this, 2) This won’t work for me, the money is wrong or I don’t think there is a fit"
      • "When I’m finished, I’m going ask you which one you are thinking. What objections do you have to that process?"
    • Anticipate and prepare for objections when you complete step six. Keep in mind that  an objection, stall or questions does NOT mean they are telling you no. They just need more information or you need to find out more clarity about compelling issues, capacity to invest or clarity on decision making. At the end, you do your best to eliminate any TIOs (Think It Overs)
    • Let's assume for a minute that this works for you. You are not done minimizing the opportunity for negotiation at time of presentation.  When you finish this discussion, you must return to your  office and write out and send the "As we agreed to letter" that covers the 3 “Cs” and inform the buyer you will call to confirm the information you’ve sent.  Then call to confirm.
    • Presenting to get a decision is as much of a mindset as it is a process:
      • Review what you’ve discussed
      • Review the as we agreed to letter including money and decision process that will take place today
      • Ask, “What’s changed?”
      • Make the presentation starting with their priority item not the first page in your presentation
      • Answer all of their questions about each solution, get them to score that solution on a scale of 1-10. If you are 7 or better you are in good shape but still you need to get them to a ten.  Once you get the ‘10’ you check that item off.
      • Ask our closing question:
        • "What where you thinking as I went through this. Assume for this discussion they said, This is really great we should do this! 
        • You ask, what should we do now?
  • Or your alternative is:
    1. Do you believe based on what we presented that we understand your business and what you are trying to accomplish?
    2. Do you feel we can help?
    3. Do you want our help?
  1. Despite this great process and effort, you can expect buyers to ask you questions that they haven’t asked yet, raise objections, or present you with stalls.  The first thing is this: Be prepared by conducting pre-call strategy meetings and role play these challenges.  Always understand that prospects are looking out for their best interests and not yours. Do not get emotionally involved when they throw you the curve ball!

Now I bet you are thinking, Tony, where is all the negotiation stuff?  Well that’s it right there. You win the bet on the first tee.

Topics: compelling reasons to buy, communication, communicating expectations, cost of hiring mistakes, crucial elements, desire for success, consistent sales, commitment to succeed, commitment, decisions, desire, creating habits for success, coaching salespeople, evaluating salespeople, developing sales skills, evaluating sales teams, creating sales habits, core values and beliefs, creating advocates, consistent sales results, consultative selling, create & convert leads, complacency, contacting prospects, deal or no deal, creating new sales opportunities, consultative sales coaching, corporate sales training, consultative sales coaching cincinnati, consultative selling cincinnati, corporate sales training cincinnati

The Two Truths and a Lie of Prospecting

Posted by Tony Cole on Fri, Jan 11, 2019

Prospecting for salespeople is often a struggle due to varying factors including their ability to stay committed to the process and overcome rejection.

In this article, we cover the dreaded,  but mandatory, task of sourcing and creating new sales opportunities.

deceive-1299043_1280Salespeople have to prospect – that’s the truth. Salespeople can find their prospects through a variety of different avenues, including; introductions, direct mail, internet offers, networking, internal referrals from business partners, cold calling, campaigns, association memberships, and business networking groups. 

What is also true is that, no matter how a sales person gets a name, the next step is to contact them. You can contact them by mail (email or snail mail) or by phone (the most common method). If you are going to have any chance to schedule time to talk with them about their current situation to determine if they are a prospect for you, you must have contact. That’s the truth.

Prospecting is FUN! Now, that’s a lie. Prospecting isn’t fun. It’s not intended to be fun. Anyone that says it’s fun is lying. If you are a manager, don’t tell your people to “just pick up the phone and have fun with it”. They will know you don’t know what you are talking about.

They’ve had fun before: Water skiing, swimming, hiking, going to a play or the opera, having a picnic, watching a ballgame, getting a promotion, a raise, or recognition for a job well done. All FUN! However, facing rejection, not talking to anyone, having people curse or hang up on you, having people who schedule appointments and then cancel or don’t show up?  ZERO FUN.

If prospecting isn’t fun, then what is it? Back in the day when I was still trying to figure out how to be successful in selling, my coach told me this:  “You don’t have to like it; you just have to do it!” And that is prospecting.  It’s called work and not play for a reason. It is work. You have to put a lot of preparation, emotion, intellect and skill into being successful at prospecting. David Kurlan from Objective Management Group has found that the single biggest contributor to sales success is the ability to be rejection-proof. Even with all the skill, techniques, scripts and preparation, if you cannot handle the rejection and emotional roller coaster of prospecting, then you will struggle, be inconsistent and fail more than you succeed.

The bottom line is that this isn’t about making it fun. It’s about getting the job done so you have solid appointments that turn into solid opportunities that turn into closed business. THAT’S where the fun is!

Topics: Prospecting, introductions, Cold Calling, sales management, commitment, networking, salespeople, overcoming rejection

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    About our Blog

    Founder and CLO Tony Cole has been working with financial firms for more than 25 years to help them close their sales opportunity gap.  He is a master at using science based data and finely honed coaching strategies to help build effective sales teams.  Don’t miss his weekly sales management blog insights.

     

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