The #1 Worst Negotiation Tactic In Business
If You’re Guilty Of This You Need To Stop Right Now.
If You’re Guilty Of This You Need To Stop Right Now.
“ABC. ‘A’, always. ‘B’, be. ‘C’, closing. ALWAYS BE CLOSING.” — Blake, Glengarry Glen Ross
Are you a closer? Do you negotiate like a pro… closing only the deals that you truly want, at the rate you want?
I bet you make the same mistake almost everyone does.
Today someone tried to negotiate with me using this ‘tactic’ and it prompted a very different response from the one they were expecting.
I walked away from the deal. Said goodbye, good luck & see ya!
What was that ‘tactic’ they used? Why would I walk away from a good deal for this one faux pas?
I’ll tell you…
The potential client/partner/collaborator used the most overused tactic in negotiation. Telling the person they’re negotiating with that OTHERS are interested to.
“Just to let you know I’m speaking to all of your competitors and they love me just as much.”
THE MANY OFFERS TACTIC IS DEAD, BUT WHY?
By telling a potential client or partner that many others are interested shows two things.
#1 — You aren’t interested in THIS partnership. Only the quickest buck. You want to squeeze your new partner into a corner with the fear of lost business. That’s not a great place to start a collaborative partnership from.
#2 — You know fuck all* about negotiating.
*I’d like to kindly take this time to note that ‘fuck all’ is a correct form of measurement. It’s slightly more than ‘none’ and a lot less than ‘enough’.
HOW TO CORRECTLY NEGOTIATE WITHOUT USING THIS TACTIC
In this instance, the person in question was 98% complete on their deal. They fell at the final hurdle.
I’m going to tell you exactly what you can say to let your future clients/partners know you’re both valuable and interested — all at the same time. Without losing them.
The #1 rule of negotiating is thus. The person who wants or needs it least, is the winner.
If you ever find yourself in a situation like this again, use these words instead…
“I really want to work with/partner with you/your company, but I’ve got some doubts I hope you can help me with.
I don’t want to even entertain the idea of shopping around, I’m a loyal person, but I also don’t want to dive straight into a deal without ensuring it’s the right thing one for me.
Can you let me know the #1 reason why people work with you over your competitor? What would they offer someone like me? Is there anything you could offer right now to put those small doubts to bed? Something that you don’t usually offer others, that would show me how invested you are in this partnership too?
I don’t necessarily want to work with anyone else. I just want to ensure I’m using my head and getting the best deal for both of us, whilst following my gut.”
Consider that another deal, closed. With a cherry on top.
You’re welcome.