Negotiating a Sale

3. Your Negotiating Strategy

3.1 Develop your strategy.

Much of the detail may only come into focus when you write it down.

• Decide the overall approach you will adopt.
• Be clear about the type of deal you want and the priority you will give it.
• Know what your strengths are and how you plan to use them.
• Work out how you will defend the weaker aspects of your proposition.
• Give a written copy of this strategy to anyone negotiating on your behalf.

3.2 Get the right negotiating team.

• Where possible, match the seniority and style of those you are negotiating with.
• Use a specialist to negotiate in areas outside your expertise. For example, use a surveyor to negotiate your office lease or an agent to act for you in a new market overseas.

3.3 Aim for a deal that works for you, while keeping the customer happy.

• Even if negotiations are going your way, keep emphasising the benefits.
• Do not wring every last penny out of customers you value.