Is there a template/checklist to negotiating a deal

I've started never split the difference (his examples are kind of bullshit because your prospect can just walk away from a deal) but rather than a book I was wondering if anyone had a good resource for negotiation.

I am thinking more in terms of process, do and dont's, ways to structure the call etc. the specifics will be relative to your company.

I was on a call today with procurement and while it looks like I will close the deal, I feel like I had only a basic plan for the call and feel like some structure from an outside perspective would be helpful.

🧠 Advice

☁️ Software Tech

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TennisandSales

Politicker

Head Of Sales

So i dont have an official checklist for you. But here is how I typically approach negotiations.

1. if its about price, know the lowest you will go and have a legit reason for why you wont go lower. Do not pull the "let me ask my manager" have that conversation before you talk to the prospect.
2. If you are giving something up, ask for something in return.
3. Understand WHY they are asking for certain item / have a legit reason why YOU are asking for things.

this is pretty broad but ever time I talk to a prospect I try to follow this.

Sunbunny31

Politicker

Sr Sales Executive 🐰

I agree, you need to know why they are asking for things.

Sometimes the objection to price is not that they think it's expensive, it's that they need the budget to fall below a certain $ amount to avoid triggering additional approvals, or they don't have the full amount this quarter but will in 3 mos, for example. Finding out why they are pushing back helps you not try to play a guessing game as to what's going to work.

detectivegibbles

Politicker

Sales Director

#2 is so important. Don't sacrifice or devalue you, your team, your time or your product without getting something in return if they push back hard on price.

This could be getting the contract signed/returned by a specific date. This could be referrals. This could be a bottle of bourbon. Literally get something. It shows a partnership and that the customer isn't just another number.

If I'm on the phone, I'm definitely playful with lowering the price knowing I've got room.

"Customer, my boss may fire me if I go this low. But if I can get this price, can we sign by end of day tomorrow?"

"If I can get approval on this price customer, you may have to send me a nice bottle of bourbon"

"Not saying I can get this approved, but if I can, can you make an intro to ABC company for me?"

People love to help people. Use it to your advantage.

punishedlad

Tycoon

Business Development Team Lead

One of my go to rules is that if they object to pricing, immediately change the subject and dig back into their pains/process.

I was on a call this morning that was a text book good call. He was resonating with everything we were saying, said our tools are something he would absolutely love to have, etc.

Then we got to pricing and he said, quote: "Yeah this is going to be dead on arrival"

Straight away I start diving back into some of the pain points he was expressing earlier on the call, and asking who else might resonate with the overall goals we discussed. Ended up convincing him to take another call with us while looping in his boss (the ultimate decision maker in our customer organizations).

Hoping we can drive home enough value for him as well, and any other stakeholders we might need to convince in order to tell their finance team to shove it.

FinanceEngineer

Politicker

Sr Director, sales and partnerships

Each company is slightly different as product and customer profile determine a lot of this process. But you can map it out based on what is needed from both sides to close a deal.

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StringerBell

Is there a template/checklist to negotiating a deal

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