Business Development’s Post

The Art of Closing Deals: Say Your Price, Then Shut Your Mouth 🤐 In the world of business, the art of closing deals is a skill that can make or break your success. One simple yet powerful mantra that has proven its worth time and time again is this: "Say your price, then shut your mouth." This approach might sound deceptively simple, but it carries profound wisdom that can significantly impact your negotiations and deal-making abilities. Here's why this strategy is so effective: 1. Confidence is Key: When you state your price confidently and clearly, you signal to the other party that you believe in the value of what you're offering. Confidence is contagious, and it can instill trust in your potential client or partner. 2. Avoid Overexplaining: Often, we tend to overexplain our pricing, thinking that more details will justify the cost. However, this can lead to confusion and dilute the impact of your initial offer. By keeping it concise, you maintain clarity and focus. 3. Invite a Response: By closing your mouth after stating your price, you give the other party an opportunity to respond. Silence can be a powerful tool in negotiations, as it prompts them to think, consider, and respond, possibly leading to a more favorable outcome for you. 4. Respect for Their Decision: Allowing the other party to digest the information without immediate pressure demonstrates respect for their decision-making process. It shows that you're not trying to strong-arm them into a deal. 5. Negotiating from a Position of Strength: When you confidently state your price and hold your silence, you project strength in the negotiation. It suggests that you are comfortable with your offer and not desperate for their acceptance. However, it's important to remember that this strategy doesn't mean you should be inflexible. Be prepared for counteroffers and continue the conversation if necessary. The key is to strike a balance between being assertive and open to further discussion. The art of closing deals is a multifaceted skill that requires finesse and strategy. "Say your price, then shut your mouth" is a valuable tactic that can help you navigate negotiations effectively. It's a reminder to be confident, concise, and respectful in your dealings, ultimately increasing your chances of sealing the deal on your terms. And we know: Closers Eat.

The Art of Negotiation: Techniques and Tips for Successful Business Deals Negotiation requires a set of techniques that help you win a contract, resolve a dispute, and understand the dynamics of the deal. This article details proven techniques and tips that can enable you to become a successful negotiator. https://bit.ly/3O3wRTQ

The Art of Negotiation: Techniques and Tips for Successful Business Deals Negotiation requires a set of techniques that help you win a contract, resolve a dispute, and understand the dynamics of the deal. This article details proven techniques and tips that can enable you to become a successful negotiator. https://bit.ly/3O3wRTQ

Negotiating a big deal can be scary. And I never recommend memorizing language: it will never come across as authentic. But, when you're negotiating, you want language that achieves the desired outcome that you don't necessarily need to come up with on the spot. Especially when you’re negotiating with clients on newer and bigger deals! Practice walking through the most common objections you might get in the course of negotiating: Client: “How did you get to that number?” You: “From working with companies in the past, this represents the value I bring and the outcome I’ve provided. What are your thoughts on what would be fair?” Client: “We worked with someone much cheaper in the past” You: “I understand, and I do not want to strap the business for cash. That being said, I need to be aware of the value I bring and this is the rate I charge. What do you propose?” Client: “That’s simply more than we can afford.” You: “I hear you, and want to find something that’s fair for your business and for me. What do you propose?” This approach is key to not negotiating against yourself by naming a lower rate. Let them make the next offer instead. If they name a lower number, frame that in relation to the number you initially named as a “discount”. You might say “That’s 30% less than my rate, and I am unable to give that big of a discount.” Always negotiate in terms of the initial amount you propose and the amount of value you bring, backed up by the experience and outcomes you can cite. You can start from these scripts and tweak them to fit the most common objections you face in your particular fractional consulting niche.

Negotiation is an essential skill that greatly benefits sales, leasing, and asset managers in their daily interactions with vendors, buyers, landlords, and tenants. Nicole is the educator who can assist in enhancing your skills in this field.

I'm always amazed at how many people tell me that they don't negotiate. As I see it, negotiation is something that each of us does every day - not just the wheelers and dealers of the world. Interestingly, our most common negotiation opponent is often ourself! Inside Small Business has today published my latest article (specifically geared to small business owners, but relevant to all) about what negotiation is and some key tips to be better at it. What other tips do you rely on when negotiating? #negotiation #commercialnegotiation #smallbusiness

If you have any sort of business, be prepared to negotiate! This is part of closing the deal. 🤝 So, let's talk about how you can master it. Click below to head to my blog. 

Learn how to create deals that benefit everyone when you read our latest insights on effective negotiation techniques for achieving mutual business success.

#negotiations are a common part of business, and they can be challenging, especially when negotiating with a business buyer. However, by following some simple tips, you can improve your chances of success. #negotiationskills #salesskills #salestraining

Could Your Negotiation Skills Benefit from a Tip or Two? The lead article of our February issue offers 16 tips to help sign company owners and managers negotiate more successfully — and to feel better about it, both preparing and during discussions. Check 'em out! #signindustry #signmaking #signmaker #negotiate #negotiating #negotiationskills #negotiationtips #negotiationstrategies https://lnkd.in/erKg4XAh