Sales Negotiation Quotes

We’re all somebody’s prospect; we’re all somebody’s customer.

Explain the value and justify the cost - People don’t mind paying; they just don’t like to overpay.

Get up in the morning on a mission to save prospective clients from the shabby, ill-fitting, overpriced and worthless alternatives that those charlatans - who are your competition - are trying to get away with flogging them.

We all need salespeople who help people with the same enthusiasm shown by a small child describing the best Christmas present EVER

Don’t tell me you’re passionate about your job – show me that you’re passionate about helping people like me.

Think about it: if someone had found a way to manipulate human choice and free will – if someone actually had that kind of power – wouldn’t it be a tad surprising if they then decided to share their secret with the masses in a book for $20? Not to mention how it would be just very slightly unethical.

We all need salespeople who deliver value that wasn’t there before they arrived.

The salesperson you’d ideally like to be and the salesperson you’d like to encounter as a customer should roughly be the same, shouldn’t they?

Solving the problem means helping the customer to understand why you’re the best person for the job

Focusing on Earning the Right will have an incredible effect on the success of every single sales call that you will make from this day on.

NEGOTIATION IS WORTHLESS. SALES ARE EVERYTHING.

We all need salespeople with humility, honesty, integrity, empathy and an old-fashioned work ethic that ensures the job gets done.

Everybody sells something to somebody every day, whether it’s a product, a service or just a case of making sure that they get their own way.

Write like you speak with the 'rhythms of human speech,' as William Zinsser said, and in as few words as possible. Use action verbs to carry water.

If you don’t earn their trust at the beginning, they sure as hell won’t trust you with their money at the end.

When your pipeline is full – with business coming out of your ears – the notion of people asking for a discount will sound hilarious, because you’ll already be at capacity

Salespeople who think that it’s all about price aren’t required: If it can be sold on the internet at the lowest price, you can take the huge cost of a sales team out of the equation.

We all need salespeople who understand the problem and can deliver a solution that works brilliantly for both sides.

Remember: when you walk into a DIY store to buy a drill, you don’t want the drill. Your end goal is to make a hole and, in order to achieve this, you have to buy the drill.

If what you sell doesn’t help me then why are you knocking on my door?

Don't burn your bridges until you build better ones.

In many instances, the words “sell” and “influence” are completely interchangeable.

Asking the appropriate questions means understanding exactly what your customer is trying to achieve

Earn the Right - Ensure you put this chunk of Sales Tetris in place first and all the other pieces just take their own positions naturally.

Be persistent, be persistent, they say. But please, do not mistake being a pest for being persistent.

22% of current business-to-business salespeople will be replaced by search engines within the next five years.

Very few things make a fool feel smart better than negotiating.

You don't announce the lowest price you'd accept on an object you're trying to sell to an active buyer. That's like perfuming your asshole before you eat Taco Bell.

We all desperately need brilliant sales professionals far more than ever before – to help us, guide us, keep us informed and stop us from making diabolically stupid buying decisions.

Having enough other opportunities to work on is the best position a salesperson and his or her company can be in. A full pipeline gives salespeople the strongest position from which to negotiate—the ability to say no.

Remember this study when you are in a negotiation—make your initial request far too high. You have to start somewhere, and your initial decision or calculation greatly influences all the choices that follow, cascading out, each tethered to the anchors set before. Many of the choices you make every day are reruns of past decisions; as if traveling channels dug into a dirt road by a wagon train of selections, you follow the path created by your former self. External anchors, like prices before a sale or ridiculous requests, are obvious and can be avoided. Internal, self-generated anchors, are not so easy to bypass. You visit the same circuit of Web sites every day, eat basically the same few breakfasts. When it comes time to buy new cat food or take your car in for repairs, you have old favorites. Come election time, you pretty much already know who will and will not get your vote. These choices, so predictable—ask yourself what drives them. Are old anchors controlling your current decisions?

1. No cold calling. Ever. You should attempt to sell only to warm leads. 2. Before you try to sell anything, you must know how much you’re willing to pay to get a new customer. 3. A prospect who “finds” you first is more likely to buy from you than if you find him. 4. You will dramatically enhance your credibility as a salesperson by authoring, speaking, and publishing quality information. 5. Generate leads with information about solving problems, not information about the product itself. 6. You can attain the best negotiating position with customers only when your marketing generates “deal flow” that exceeds your capacity. 7. The most valuable asset you can own is a well-maintained customer database, because people who’ve already bought from you are way easier to sell to than strangers.

The main management skills needed for success are: 1) Management of cash flow, 2) Management of systems, and 3) Management of people. And the most important specialized skills are sales and marketing. Communication skills such as writing, speaking, and negotiating are crucial to a life of success. These are skills Robert works on constantly, attending courses or buying educational resources to expand his knowledge. The skills of selling and marketing are difficult for most people, primarily due to their fear of rejection. The better you are at communicating, negotiating, and handling your fear of rejection, the easier life is.

Ty Inc.'s 1989 catalog had this on the back cover: "Warning: If anyone dare copy our creative designs and patents without written permission, ownership of your eternal soul passes to us and we have the right to negotiate the sale of said soul. Furthermore, our attorneys will see to it that life on Earth, as you know it, is not worth living.

The most important specialized skills are sales and marketing. The ability to sell—to communicate to another human being, be it a customer, employee, boss, spouse, or child—is the base skill of personal success. Communication skills such as writing, speaking, and negotiating are crucial to a life of success. These are skills I work on constantly, attending courses or buying educational resources to expand my knowledge.

If I could offer just one piece of inspiration, it’s this: The Dip is the reason you’re here. Whether you’re lifting weights or negotiating a sale or applying for a job or lunging for a tennis ball, you’ve made a huge investment. You’ve invested time and money and effort to get to this moment. You’ve acquired the equipment and the education and the reputation…all so you can confront this Dip, right now. The Dip is the reason you’re here.

The lobby of the Fanny Briggs Memorial Building was almost finished when she arrived. As if to distract from the minuscule and cramped philosophy of what would transpire on the floors above, the city offered visitors the spacial bounty of the lobby. The ersatz marble was firm underfoot like real marble, sheer, and produced trembling echoes effortlessly. The circle of Doric columns braced the weight above without complaint. The mural, however, was not complete. It started out jauntily enough to Lila Mae’s left. Cheerless Indians holding up a deerskin in front of a fire. The original tenants, sure. A galleon negotiating the tricky channels around the island. Two beaming Indians trading beads to a gang of white men—the infamous sale of the Island. Big moment, have to include that, the first of many dubious transactions in the city’s history. (They didn’t have elevators yet. That’s why the scenes look so flat to Lila Mae: the city is dimensionless.) The mural jumped to the Revolution then, she noticed, skipped over a lot of stuff. The painter seemed to be making it up as he went along, like the men who shaped the city. The Revolution scene was a nice setpiece—the colonists pulling down the statue of King George III. They melted it down for ammunition, if she remembers correctly. It’s always nice when a good mob comes together. The painting ended there. (Someone knocks at the door of her room in 117 Second Avenue, but she doesn’t open her eyes.) Judging from the amount of wall space that remained to Lila Mae’s right, the mural would have to get even more brief in its chronicle of the city’s greatest hits. Either the painter had misjudged how much space he had or the intervening years weren’t that compelling to him. Just the broad strokes, please.

When text messaging first came about, it was still a one-to-one negotiation: I propose an idea or something to you, you exchange back to me. When you get to 2010/2011, this new model of communication that exists is that you put something out there into the world and then you wait for a reaction. Now, if you look at the depression rates amongst young men, the correlation between these two things is very measurably concise, and amongst young women it’s insane. I’m not necessarily an empiricist, I believe in nuance and subtext and context, but I think that if there’s evidence like that, I mean — I’m sure we could really map depression on to the sale of avocados, too — but I do feel like that’s got something to do with it and it kind of freaks me out.

One can hardly fault China for seizing on a great bargain, but for Zambia, the auctioning off of its most lucrative economic resources at fire-sale prices constituted another big stroke of bad national luck. Copper prices were still depressed and the government’s state of near bankruptcy at the time meant that Zambia had little negotiating power. Edith Nawakwi, who was the Zambian finance minister at the time of the sale, said that the country was pressured by its more traditional partners to accept this pittance. “We were told by advisers, who included the International Monetary Fund and the World Bank, that … for the next twenty years, Zambian copper would not make a profit. [Conversely, if we privatized] we would be able to access debt relief, and this was a huge carrot in front of us—like waving medicine in front of a dying woman. We had no option [but to go ahead].” The

During the year we interviewed him, Dr. South spent more than $70,000 for his most recent motor vehicle purchase, related sales tax, and insurance. Yet for the same period, how much did he place in his pension plan? About $5,700! In other words, only about $1 in every $125 of his income was set aside for retirement. The amount of time Dr. South took to find the best deal on his car was also counterproductive. We estimated that it took him more than sixty hours to study, negotiate, and purchase his Porsche. How much time and effort does it take someone to place money in a pension plan? A small fraction of this time and energy. It is easy for Dr. South to say he wants to accumulate wealth, but his actions speak much louder than his words. Perhaps that explains why he has lost a considerable amount of wealth through imprudent investing. Investing when one has little or no intellectual basis for one’s decisions often translates into major losses. T

The next day, as they walked, a stranger rode up, matching the Georgia-man’s pace. “Niggers for sale?” He wanted to buy two women. The two men negotiated, argued, and insulted each other a little. The new man stared at the women and told them what he thought he’d do with them. The coffle kept moving. The white men rode along, bargaining. Maybe the deal could be sweetened, allowed the Georgia-man, if the South Carolinian paid to have the chains knocked off the men. One thousand dollars for the two, plus blacksmith fees. They stopped at a forge, and they kept arguing. The new man stated for everyone’s benefit that he had worked African men to death in iron collars. The blacksmith came out, and he asked what “the two gentlemen were making such a frolick about,” Ball later said. Frolicking: Down there, Ball realized, the Carolinians’ play, the time when they were most fully themselves, was evidently when they were arguing, negotiating, dealing, and intimidating the enslaved.

You often find this difference between different types of investors. Some will tell you that all the value is in driving down the price you pay as low as possible. These investors revel in the transaction itself, in playing with the deal terms, in beating up their opponent at the negotiating table. That has always seemed short term to me. What that thinking ignores is all the value you can realize once you own an asset: the improvements you can make, the refinancing you can do to improve your returns, the timing of your sale to make the most of a rising market. If you waste all your energy and goodwill in pursuit of the lowest possible purchase price and end up losing the asset to a higher bidder, all that future value goes away. Sometimes it’s best to pay what you have to pay and focus on what you can then do as an owner. The returns to successful ownership will often be much higher than the returns on winning a one-off battle over price. At the price I suggested, I calculated that we would lock in a 16 percent annual yield.

Bezos kept pushing for more. He asked Blake to exact better terms from the smallest publishers, who would go out of business if it weren't for the steady sales of their back catalogs on Amazon. Within the books group, the resulting program was dubbed the Gazelle Project because Bezos suggested to Blake in a meeting that Amazon should approach these small publishers the way a cheetah would pursue a sickly gazelle. As part of the Gazelle Project, Blake's group categorized publishers in terms of their dependency n Amazon and then opened negotiations with the most vulnerable companies. Three book buyers at the time recall this effort. Blake herself said that Bezos meant the cheetah-and-gazelle analogy as a joke and it was carried too far. Yet the program clearly represented something real--an emerging realpolitik approach toward book publishers, an attitude whose ruthlessness startled even some Amazon employees. Soon after the Gazelle Project began, Amazon's lawyers heard about the name and insisted it be changed to the less incendiary Small Publisher Negotiation Program.

The tone of those negotiations was very contentious,” says Becky Sauerbrunn, who served on the national team’s CBA committee and participated in most of the negotiation sessions. “They didn’t go anywhere. We would go into those meetings and say we want equal pay and they would say you’re not really generating the revenue to deserve equal pay to the men. And it just went around and around like that.” But then on March 7, Rich Nichols saw something that caught him by surprise. It was an article by Jonathan Tannenwald of the Philadelphia Inquirer that broke down financial numbers contained in U.S. Soccer’s General Annual Meeting report. The report itself was released quietly on U.S. Soccer’s website without fanfare—Tannenwald was the only journalist for a major newspaper who picked up on it. What the U.S. Soccer report showed—and what in turn the Philadelphia Inquirer explained—was that U.S. Soccer initially budgeted a $420,000 loss for 2016 but changed their numbers to expect a profit of almost $18 million, based largely on the gate receipts and merchandise sales of the women’s national team during the 2015 Women’s World Cup victory tour.

Insurance Adjuster Tom We have studied your case and we have decided the policy applies. That means you’re entitled to a settlement of $13,600. I see. How did you reach that figure? That’s how much we decided the car was worth. I understand, but what standard did you use to determine that amount? Do you know where I can buy a comparable car for that much? How much are you asking for? Whatever I’m entitled to under the policy. I found a secondhand car just about like it for $17,700. Adding the sales and excise tax, it would come to about $19,000. $19,000! That’s too much! I’m not asking for $19,000 or $18,000 or $20,000, but for fair compensation. Do you agree that it’s only fair I get enough to replace the car? OK, I’ll offer you $15,000. That’s the highest I can go. Company policy. How does the company figure that? Look, $15,000 is all you’ll get. Take it or leave it. $15,000 may be fair. I don’t know. I certainly understand your position if you’re bound by company policy. But unless you can state objectively why that amount is what I’m entitled to, I think I’ll do better in court. Why don’t we study the matter and talk again? Is Wednesday at eleven a good time to talk? . . .

When Joe and I went to meet Goldman’s real estate team, though, we found they had a different view of the risks of this deal. Goldman wanted to bid as low as possible to avoid overpaying. For me, the biggest risk was not offering enough and missing out on a tremendous opportunity. I wanted to make sure we beat Bankers Trust’s expected bid. You often find this difference between different types of investors. Some will tell you that all the value is in driving down the price you pay as low as possible. These investors revel in the transaction itself, in playing with the deal terms, in beating up their opponent at the negotiating table. That has always seemed short term to me. What that thinking ignores is all the value you can realize once you own an asset: the improvements you can make, the refinancing you can do to improve your returns, the timing of your sale to make the most of a rising market. If you waste all your energy and goodwill in pursuit of the lowest possible purchase price and end up losing the asset to a higher bidder, all that future value goes away. Sometimes it’s best to pay what you have to pay and focus on what you can then do as an owner. The returns to successful ownership will often be much higher than the returns on winning a one-off battle over price.

Regret can improve decisions. To begin understanding regret’s ameliorative properties, imagine the following scenario. During the pandemic of 2020–21, you hastily purchased a guitar, but you never got around to playing it. Now it’s taking up space in your apartment—and you could use a little cash. So, you decide to sell it. As luck would have it, your neighbor Maria is in the market for a used guitar. She asks how much you want for your instrument. Suppose you bought the guitar for $500. (It’s acoustic.) No way you can charge Maria that much for a used item. It would be great to get $300, but that seems steep. So, you suggest $225 with the plan to settle for $200. When Maria hears your $225 price, she accepts instantly, then hands you your money. Are you feeling regret? Probably. Many people do, even more so in situations with stakes greater than the sale of a used guitar. When others accept our first offer without hesitation or pushback, we often kick ourselves for not asking for more.[2] However, acknowledging one’s regrets in such situations—inviting, rather than repelling, this aversive emotion—can improve our decisions in the future. For example, in 2002, Adam Galinsky, now at Columbia University, and three other social psychologists studied negotiators who’d had their first offer accepted. They asked these negotiators to rate how much better they could have done if only they’d made a higher offer. The more they regretted their decision, the more time they spent preparing for a subsequent negotiation.[3] A related study by Galinsky, University of California, Berkeley’s, Laura Kray, and Ohio University’s Keith Markman found that when people look back at previous negotiations and think about what they regretted not doing—for example, not extending a strong first offer—they made better decisions in later negotiations. What’s more, these regret-enhanced decisions spread the benefits widely. During their subsequent encounters, regretful negotiators expanded the size of the pie and secured themselves a larger slice. The very act of contemplating what they hadn’t done previously widened the possibilities of what they could do next and provided a script for future interactions.[4]

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Refuge planets are stable, secure and isolated but require a subtle, more complicated approach.  Weary of homelessness and aware of the rarity of this opportunity, they scramble to find consensus.  The contract is very specific and non-negotiable.  One species is to be processed, while all others must be protected and mentored.  Terms are discussed and determined to be agreeable.  The merchant is notified, and the contract is executed.  Coordinates received, the Orbs are configured, mounted then launched.  With renewed hope, the entire fleet alters course.  They begin the seventy-three light-year journey to their new home.

I heard this story of someone who does this in MLM. If he's talking to someone who is “cold”, he never, EVER starts by saying he's in “MLM” or network marketing. Instead, he talks about how unstable the economy and job market is. Then he discusses how pensions and government programs are unreliable and bankrupt. Next he suggests real financial security comes only from having a business. And if you lack experience, a franchise is ideal, since they usually offer support and a proven “paint by numbers” system. But franchises cost money and take time. So the next best thing is MLM—which can be done cheaply part time. And since most new MLM company's fail, it's best to join one that's been around a while, like his... See how that works?

Vendors are becoming aware that their future relevance and viability will depend not on their salespeoples’ willingness to let the CIO beat them at a round of golf, but their ability to get the rank and file to genuinely value their technologies. As we’ll see, those that manage this transition most successfully turn sales from a costly and complex negotiation to a fait accompli.

There are many potential explanations for the less-than-robust performance, but IBM’s current strategy suggests that one component at least is a challenge to the traditional shrink-wrapped software business. As much as any software provider in the industry, IBM’s software business was optimized and built for a traditional enterprise procurement model. This typically involves lengthy evaluations of software, commonly referred to as “bake-offs,” followed by the delivery of a software asset, which is then installed and integrated by some combination of buyer employees, IBM services staff, or third-party consultants. This model, as discussed previously, has increasingly come under assault from open source software, software offered as a pure service or hosted and managed on public cloud infrastructure, or some combination of the two. Following the multi-billion dollar purchase of Softlayer, acquired to beef up IBM’s cloud portfolio, IBM continued to invest heavily in two major cloud-related software projects: OpenStack and Cloud Foundry. The latter, which is what is commonly referred to as a Platform-as-a-Service (PaaS) offering, may give us both an idea of how IBM’s software group is responding to disruption within the traditional software sales cycle and their level of commitment to it. Specifically, IBM’s implementation of Cloud Foundry, a product called Bluemix, makes a growing portion of IBM’s software portfolio available as a consumable service. Rather than negotiate and purchase software on a standalone basis, then, IBM customers are increasingly able to consume the products in a hosted fashion.

This is a summary of the negotiated sale approach: 1. Package the company. Identify and describe the company’s strengths clearly and accurately, both in the descriptive memorandum and in phone calls, e-mails, and meetings. 2. Identify and contact all the potential buyers. Employ discipline and creativity in pursuing more than just the likely buyers. 3. Execute a disciplined process for following up and moving the buyers forward. 4. Negotiate by understanding the strategic implications of the acquisition for each buyer. 5. Endeavor to get multiple offers at the same point in time. Take the highest offer. Package

The best buyers for an intangible company are small and midsized companies, not the larger companies. The negotiated sale is a more effective process for selling a sub-30 intangible company than is the auction process that is used on large transactions. And finally, a CEO should never attempt to sell his own company. He is too close to be objective and he cannot possibly execute a disciplined sale process and run the company effectively at the same time. Now

Salespeople who sell on price alone often negotiate win-lose agreements: these are wins for the customer but losses for the salesperson, who earns just a tiny bit of money for himself and his company.

Enterprise deals or “how to lose your freedom in 5 minutes” Being able to use our product for sales prospecting, I decided to go after some big names at the enterprise level. After one week I had booked meetings with companies like Uber, Facebook, etc. This is where the fun begins…or not… I spent 3 months doing between 4 to 9 meetings for each enterprise company I had booked meetings with. Every meeting leads to the next one as you go up the chain of command. And then comes the pilot phase. Awesome you might think! Well, not really… Working with enterprise-level clients requires a lot of custom work and paperwork. And when I say “a lot” I mean a sh*t ton of work. You need an entire department to handle the legal aspect, and hire another 10 people to entirely change your tech department to meet their requirements. During 4 months I went from being super excited to work with the most famous companies in the world to “this deal will transform our company entirely and we’ll have to start doing custom everything”. Losing my freedom and flexibility quickly became a no-go. The issue here is, with all these meetings I thought that they would adapt to our standards. That they understood from the start that we were a startup and that we couldn’t comply with all their needs. But it doesn’t work like this. It’s actually the other way around even though the people you meet working at these companies tell you otherwise. The bottleneck often comes from the legal department. It doesn’t matter if everyone is excited to use your product, if you don’t comply with their legal requirements or try to negotiate it will never work out. To give you an example, we had enterprise companies asking us to specifically have all our employee’s computers locked down in the office after they end their day. Knowing that we’re a remote company, it’s impossible to comply with that... If you want to target enterprise accounts, do it. But make sure to know that you need a lot of time and effort to make things work. It won’t be quick. I was attracted to the BIG names thinking that it would be an amazing way to grow faster, but instead, I should have been 100% focused on our target market (startups, SMBs).

Even if you show the full value, some customers will never pay. When I first started selling Connex for QuickBooks, one of my first trial users was a small startup that barely made $2,000 per month. He hammered me for support through multiple phone calls. He was trying to negotiate me down from $20 per month to an even lower price. I told him to hit the road. I learned a couple of lessons: Avoid getting too invested in trial users. Unless you have qualified a prospect, do not spend too much time with her. A common negotiating tactic is to make you invest a lot of time before trying to talk you down. Prospects figure you will not give up because you have invested so much. Avoid pricing yourself out of business. If you price your product low, people fail to see the value. They think there are hidden fees. As I raised prices, we attracted higher-value clients that were less troublesome. Avoid features. The small business and I discussed a QuickBooks sync, instead of the money we saved on data-entry. I could have asked how many hours he spent hand entering sales or how much he paid someone else for data entry.

Books In addition to podcasts, several books have significantly shaped my worldview and perspective as an investor. These are the ones I found most influential and deserving of attention in the real estate and entrepreneurship spaces. Real Estate, Investing, Sales, and Negotiation: • Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!, by Robert T. Kiyosaki • Mastering the Market Cycle: Getting the Odds on Your Side, by Howard Marks • The Due Diligence Handbook For Commercial Real Estate: A Proven System To Save Time, Money, Headaches And Create Value When Buying Commercial Real Estate, by Brian Hennessey • Principles: Life and Work, by Ray Dalio • Pitch Anything: An Innovative Method for Presenting, Persuading, and Winning the Deal, by Oren Klaff • Never Split the Difference: Negotiating as if Your Life Depended on It, by Chris Voss Non-Real Estate: • Double Double: How to Double Your Revenue and Profit in 3 Years or Less, by Cameron Herold • Clockwork: Design Your Business to Run Itself, by Mike Michalowicz • How an Economy Grows and Why It Crashes, by Peter Schiff • Economics in One Lesson: The Smartest and Surest Way to Understand Basic Economics, by Henry Hazlitt • What Has Government Done to Our Money, by Murray M. Rothbard • Own the Day, Own Your Life: Optimized Practices for Waking, Working, Learning, Eating, Training, Playing, Sleeping, and Sex, by Aubrey Marcus • The Charisma Myth: How Anyone Can Master the Art and Science of Personal Magnetism, by Olivia Fox Cabane • Deep Work: Rules for Focused Success in A Distracted World, by Cal Newport

Don’t back yourself into a corner and start negotiating against yourself at the start, like “It’s ten thousand dollars per seat, but don’t worry, I can get you a deal.” Just state the pricing and the rationale that backs it, shut the hell up, and see what the reaction is.

While the payoff price of the property shouldn’t necessarily drive your opening offer, you should realize that in most cases, the payoff price of the house will be the seller’s worst-case MAO (this is what they need to get from the sale). In many cases, their MAO will be higher than the payoff (they want to walk away with additional cash from the sale), but rarely will it be lower.

Nothing made it harder for Europeans to see the link between the Lenapes and their environment than the fact that kinship—not class—was the basis of their society. Private ownership of land and the hierarchical relations of domination and exploitation familiar in Europe were unknown in Lenapehoking. By custom and negotiation with its neighbors, each Lenape band had a “right” to hunt, fish, and plant within certain territorial limits. It might, in exchange for gifts, allow other groups or individuals to share these territories, but this did not imply the “sale” or permanent alienation known to European law. In the absence of states, moreover, warfare among the Lenapes was much less systematic and brutal than among Europeans. As Daniel Denton said disdainfully: “It is a great fight where seven or eight is slain.” More

Sell First, Negotiate Second I want to make one final comment before wrapping up this chapter. You’ll notice that I have resisted using the words negotiation or negotiating. I’m a firm believer that we need to sell first and negotiate second. Too many salespeople give up a tremendous amount of profit by being willing to negotiate with customers far too early in the sales process. No negotiations should take place with a customer until the customer has rejected your offer on two separate occasions. My reasoning is simple: You cannot negotiate anything successfully unless you know what it is you are negotiating. Any salesperson who attempts to negotiate too early is doomed to lose. Waiting until the offer has been rejected twice gives you the opportunity to learn what the customer’s key needs, desired benefits, and risks are. It allows you to understand how the customer communicates and what the customer’s timeline is for making a decision. There are a host of other things you can and will learn if you take the time to sell. If you truly listen to the customer, you will be able to close the sale without having to negotiate anything. When you close the sale without negotiating, you then have the best opportunity to sell at the highest profit possible.

I fetched my bag, tucked the folded newspaper inside, and grabbed the house keys. Clay beat me to the door.  I scowled down at him.  He stared back at me.  After a moment, he shook his neck, jangling his tags.  Defeated, I clipped on his leash.  He negotiated well without using a single word. I used my cell to call the number for the first ad.  The man sounded a bit brusque as if my planned visit inconvenienced him.  Shrugging it off, I led Clay to the address.  A rusty car parked on the front lawn with a “for sale” sign affirmed I had the right place.  Clay and I walked toward the car. A man called hello from the open garage and made his way toward us.  As he neared, his demeanor changed, and I inwardly groaned.  He introduced himself as Howard and looked me over with interest.  Clay moved to stand between us, his stoic presence a good deterrent. Howard talked about the car for a bit, going through the laundry list of its deficiencies.  Then he popped the hood so I could look at the engine.  In the middle of Howard’s attempt to impress me with his vast mechanical knowledge, Clay sprang up between us.  Howard yelped at Clay’s sudden move and edged away as Clay placed his paws on the front of the car to get a good look at the engine, too.  I fought not to smile at the man’s stunned expression.  At Clay’s discreet nod, I bought the car, not bothering with the second ad. No matter what errand I wanted to run during the week before classes started, Clay insisted on tagging along.  On Friday, when I drove to the bookstore, Clay rode a very cramped shotgun and waited in the car while I made my purchases.  Later, he sat in the hot car again while I bought some basic school supplies. However, Monday, when I tried leaving for my first class, I put my foot down.  He bristled and growled and tried to follow me. “Your license only wins you so much freedom.  Dogs aren’t allowed on campus and definitely not in the classroom.” Thankfully, Rachel had left first and didn’t hear me scold him. I tried to leave again, but he stubbornly persisted.  Finally, exasperated, I reminded him that he slept on my bed because of my good grace.  He resentfully stepped away from the door. *

THE SEVEN CARDINAL RULES OF THE 80/20 SALES PRO These are the seven cardinal rules of the 80/20 sales professional: 1. No cold calling. Ever. You should attempt to sell only to warm leads. 2. Before you try to sell anything, you must know how much you’re willing to pay to get a new customer. 3. A prospect who “finds” you first is more likely to buy from you than if you find him. 4. You will dramatically enhance your credibility as a salesperson by authoring, speaking, and publishing quality information. 5. Generate leads with information about solving problems, not information about the product itself. 6. You can attain the best negotiating position with customers only when your marketing generates “deal flow” that exceeds your capacity. 7. The most valuable asset you can own is a well-maintained customer database, because people who’ve already bought from you are way easier to sell to than strangers.

Executing a disciplined process is the key to a successful sale of an intangible company and management should have a good understanding of the process at the outset.

The negotiated sale is a more effective approach than the two-step auction when selling an intangible company, particularly those with a transaction size of less than $30 million. The small and midsized buyers do not have the in-house resources to respond to the strict time deadlines of an auction process. The

Addressing customer and market issues is one of the primary ways that a company can improve its profitability prior to a sale. First, diversify the customer base. If only a few customers account for a large portion of your revenues, it will reduce the company’s value.

Reviewing the financial condition can be a good exercise for the company. A company that plans to sell should get its accountants involved before the sale process begins. The company needs to be sure that its financial house is in order. And it needs an experienced accountant to tell them exactly what that entails. Use it as an opportunity to improve your internal controls and clean up your financial reporting. A

I appreciate that,” Myron said, “but I actually wanted to talk to you about another matter.” “Please.” He leaned back, folded his hands in his lap, smiled. “Go right ahead.” “It’s about Greg Downing.” The smile didn’t budge, but the light behind it flickered a bit. “Greg Downing?” “Yes. I have a few questions.” Still smiling. “You realize, of course, that I cannot reveal anything that may fall under what I consider privileged.” “Of course,” Myron agreed. “I was wondering if you could tell me where he is.” Marty Felder waited a beat. This was no longer a sales pitch meeting. It was now a negotiation. A good negotiator is frighteningly patient. Like a good interrogator, he must above all else be a listener. He must make his opponent do the talking. After several seconds, Felder asked, “Why do you want to know that?” “I need to speak with him,” Myron said. “May I ask what this is about?” “I’m afraid it’s confidential.” They

The typical industry approach is [retailers] to treat vendors like the enemy... If vendors can't make a profit then they don't have money to invest in research and development, which in turn means that the products they bring to the market will be less inspiring to customers, which in turn detriments the retailer's business because customers aren't inspired to buy. People want to cut costs and negotiate aggressively because there's a limited amount of profit to be shared by both sides. As a result of this "death spiral", most retailers fail.

template for prenegotiation planning based on BayGroup International’s Situational Sales Negotiation™ (SSN™) methodology.

Anytime you have multiple offers and you have cash in the mix, the conventionally financed borrower is going to try as hard as they can to look like a cash buyer, even though they’re still being financed,” said Eric Hagstette, owner and principal broker at Inhabit Portland, a real estate company. When sellers have a choice, they prefer the sure thing. Unlike cash, financing can fall through, especially in a market with tighter credit. Buyers who turn up with a check rather than a pre-approved loan are more likely to complete the transaction –and sellers know it. To compete, some buyers are simply borrowing cash from friends and family and financing their houses after closing — bout 14 percent of cash buyers in the greater Portland area between 2011 and the end of 2014, in fact, according to RealtyTrac. Others are overbidding to ram deals through quickly, then waiving the right to negotiate price if an appraiser doesn’t agree. The practice comes with significant risks. It also allows the next guy to price his house just as high, while one sale becomes a benchmark for the starting price of the next, Hagstette said.

Selling to the right person is more important than all the sales methods, copywriting techniques, and negotiation tactics in the world. Because the wrong person doesn’t have the money. Or the wrong person doesn’t care. The wrong person won’t be persuaded by anything.

Mortgage Workouts Even if you don’t qualify for any of the government loan modification programs or your lender doesn’t agree to participate, you may be able to arrange a “mortgage workout.” A workout is any agreement you make with the lender that changes how you pay the delinquency on your mortgage or otherwise keeps you out of foreclosure. Many lenders require this formal process even for short-term fixes. Here are some workout options your lender might agree to: • Spread repayment of missed payments over a few months. For example, if your monthly payment is $1,000 and you missed two payments ($2,000), the lender might let you pay $1,500 for four months. • Reduce or suspend your regular payments for a specified time, and then add a portion of your overdue amount to your regular payments later on. • Extend the length of your loan and add the missed payments at the end. • For a period of time, suspend the amount of your monthly payment that goes toward the principal and only require payment of interest, taxes, and insurance. • Let you sell the property for less than you owe the lender and waive the rest. This is called a “short sale.” It’s best to start the workout negotiations as early as possible. But before you contact the lender about a workout, you should prepare information about your situation, including: • a reasonable budget for the

The United States quietly began exporting food to Cuba in 2001, following the devastating hurricane Michelle. In 2000, President Clinton authorized the sale of certain humanitarian products and the United States is again the island's primary food supplier. Annual food sales to Cuba peaked at $710 million in 2008. The Latin American Working Group coordinates relief efforts with Cuba in times of need. There has been a lengthy history binding the two countries, which should not be forgotten. American corporate abuses on the island nation is one of the overwhelming factors deterring Cuba from stabilizing affairs with the United States and the fact that Cuba’s government is a dictatorial, communistic régime stands in the way of the United States opening negotiations with them. Guantánamo Naval Base has been held for a long period of time, perhaps too long, and for questionable reasons, whereas Cuba has incarcerated people for political reasons, including some Americans, for far too long. Families have been divided and animosities have continued. Special interest groups, including a very vocal Cuban population in South Florida, continue to block the U.S. Government from initiating reasonable legislature regarding U.S. interests in Cuba, while many other countries carry on normal relations with the country. What is happening now is a reversal and counterproductive. It would seem that now should be a good time for the U.S. and Cuba to become reasonably good neighbors again….

To Never Overpay . . . •​Develop a standardized valuation model of your own. •​Use your own estimates of sales and margins. •​Factor in anticipated cost savings, but not sales synergies. •​Value acquisitions conservatively and walk away if the deal becomes too rich. •​Don’t let the dealmakers negotiate the terms. •​Exercise final oversight, exploring the downsides and scuttling the deal if you risk overpaying. •​Maintain a great pipeline of potential deals so that no single deal seems like a must-have.

And here is the crux: hospitals agreed to follow, and in return demanded financial compensation—they negotiated with the leader about their terms. This is a naive approach to followership. The IT firms, on the other hand, played a smarter game. They not only negotiated with the leader for the financial assistance that would help their sales; they also negotiated for the inclusion of meaningful use—an imposition not on the leader, but on the behavior of other followers. They shaped the long term-governance of the ecosystem when the rules were still malleable. Smart.

You can use standards of legitimacy both as a sword to persuade others, and as a shield to help you resist pressure to give in arbitrarily. (“I would like to give you a discount, but this price is firm. It is what General Motors paid for the same item last week; here is the bill of sale.”) Just as, by finding relevant precedent and principles a lawyer enhances his or her ability to persuade a judge, so a negotiator can enhance his or her negotiation power by finding precedents, principles, and other external criteria of fairness and by thinking of ways to present them forcefully and tellingly: “I am asking for no more and no less than you are paying others for comparable work.” “We will pay what the house is worth if we can afford it. We are offering what the similar house nearby sold for last month. Unless you can give us a good reason why your house is worth more, our

A few years ago, I stumbled upon the book How to Become a Rainmaker,3 and I like to review it occasionally to refresh my sense of the emotional drivers that fuel decisions. The book does a great job to explain the sales job not as a rational argument, but as an emotional framing job.

Investor: “Great! Now, I know we talked about the fact that you want $110,000 for the house. I already mentioned that I’d be purchasing your house as an investment, and unfortunately, I just can’t afford to pay that much and still be able to make a profit on the deal. But, here’s what I can do. I can either pay you $90,000 in cash for the property or I can pay you $100,000 if you’re willing to owner finance the sale. That means we would complete the sale in ten days, but you would wait six months to collect your $100,000. Which of those options would you prefer?” At this point, if you’ve done a good job of selecting your offer prices (e.g., you weren’t too generous), there is a good chance the seller isn’t going to accept either of those offers without some additional negotiation. The good news is that we’ve gotten the seller to implicitly agree to all the other terms and contingencies in the contract. Not only that, but we’ve now given the seller two options for the sale price, and his response to your final question (“Which of those options would you prefer?”) will give insight into which direction the negotiation goes.

Here are some specific things we look for in a real estate listing: Price: If a house is priced below market value, that is the best indication that the seller is motivated. They are willing to give up at least some profit in return for a quicker sale. On the other hand, when a house is listed above market value, this typically indicates that seller is not desperate to sell and is more interested in a high sale price than a quick sale. Additionally, once a seller lists a property above market value, they will become anchored to that above-market price, and—barring any major realizations by the seller—it will be difficult to break that anchor and get a great deal on the property. Days on Market (DOM): The second piece of information a listing can provide with respect to motivation is the number of days the property has been listed for sale. Typically, when a seller first lists a property, they are confident (or at least optimistic) that they will get an offer close to list price. For that reason, it’s generally difficult to purchase newly listed properties much below list price.

The Safari Club’s secret alliance achieved successful military intervention in Zaire in response to two invasions from Angola, and provided weapons to Somalia during the Ethiopian conflict. An estimated twenty percent of the international arms sales to non-Communist countries were negotiated by Khashoggi, who amassed a fortune from brokering billion-dollar defense deals. Khashoggi had close ties with the Central Intelligence Agency, whose associate deputy director Theodore Shackley was in charge of spy missions in Germany, Laos and Vietnam – countries where Holden had also traveled.

Before we begin let’s think back to Chapter 5, where we attempted to get the following three key pieces of information from the seller or the seller’s agents: The seller’s source and level of motivation. The payoff price of the house. The seller’s stated lowest acceptable sale price.

Fasal is an online system that connects farmers in rural India directly with market agents and other buyers. Via Fasal, farmers can quickly learn the price of goods at a number of nearby markets, choose the sales location most advantageous to them, and use the data to negotiate a better deal, a challenge that exists around the world.2 Sangeet Choudary, one of the authors of this book, led the commercialization and launch of the Fasal initiative. One of the challenges facing Choudary and his team was figuring out what kind of communications infrastructure they could use to enable producers and consumers to share value units. They realized that the big advantage working in their favor was cell phones. More than half of Indian farmers, even the poorest, own and use cell phones. In fact, as in much of the developing world, cell phone use in rural India has spread rapidly. Cellular telephony, with its instant communications capability, became the conduit for the market data the small farmers so desperately needed.

Me: “Okay, so we agree, you guys stay in the house until the school year ends. This is going to make it hard for us to make a profit on this deal, as the house needs a good bit of work, and we wouldn’t be able to get it renovated and back on the market until after the selling season. But, that’s now our problem—it’s a risk we’re just going to have to take. How much cash are you guys looking to get out of the sale?” Notice a couple things from my follow-up comment: I reinforced both the fact that I had given a concession and that it was a big sacrifice for us; I subtly mentioned that the house needed a good bit of work, planting the idea in their head that their house may not be worth what they expected; Immediately after bragging about my sacrifice and lowering their expectation for what their house would be worth, I ask them to throw out a price (now is a first opportunity for them to reciprocate, potentially asking for less than they otherwise would have). Long story short, always take the opportunity to point out the value of your concessions to the other party.

To glean information from a seller, here are some other questions we like to ask: “How long have you owned the property?” “How long have you been thinking about selling the property?” “Have you already found a new place to live?” “What do you plan to do with the money from the sale?” “Are you under any pressure to sell?” “Are the payments current?

The main management skills needed for success are: 1) Management of cash flow, 2) Management of systems, and 3) Management of people. And the most important specialized skills are sales and marketing. Communication skills such as writing, speaking, and negotiating are crucial to a life of success.

So many things had to happen for these men to arrive at their deaths. Start with the invention of the internal combustion engine. Follow with the development of Europe and the Americas and the rest of the world creating a ravenous appetite for oil, which created oil rigs and refineries and massive wealth for desert princes. Then global supply chains, trade agreements, secure shipping routes, and the law of the sea. Negotiated arms sales, too. Add in the vast edifice of Western science. Computing and radio technology. The space race and the microchip. Silicon Valley and the military-industrial complex. And other, subtler developments. American-pioneered methods of high-value targeting. The post-9/11 explosion of private military contractors. It took all of the massively complex, interconnected modern world to bring these men their deaths. It was a shame they were incapable of appreciating it.

The value of story—of creator reputation—was vividly demon- strated in a social experiment conducted by the street artist Banksy during a 2013 New York residency. This is an artist whose work has sold for as much as $1.87 million at auction. Banksy erected a street stall on a sidewalk bordering Central Park and had a vendor sell his prints for sixty dollars each. He then posted a video of his experi- ment. Footage from a hidden camera captures some of his most iconic images displayed on a table. Tourists and locals meander by. His first sale doesn’t come for hours. A woman buys two small works for her children, negotiating a fifty percent discount. Around four in the afternoon, a woman from New Zealand buys two more. A little over an hour later, a Chicago man who “just needs something for the walls,” buys four. With each sale, the vendor gives the buyer a hug or kiss. At 6 p.m., he closes the stall, having made $420. In June 2015, one of these stenciled prints, Love Is in the Air—an image of a masked protestor throwing a bouquet of flowers—sold for $249,000. How much of the value of Banksy’s art is tied up in his name, his global brand?

The better we’re all able to understand ourselves and accept who we are, the less likely we are to negotiate with ourselves whilst developing at a faster pace and realising our growth potential.

Job and relocation decisions are bets. Sales negotiations and contracts are bets. Buying a house is a bet. Ordering the chicken instead of the steak is a bet. Everything is a bet.

At a recent sales conference, I asked the participants for the one word they all dread. The entire group yelled, “No!” To them—and to almost everyone—“No” means one thing: end of discussion. But that’s not what it means. “No” is not failure. Used strategically it’s an answer that opens the path forward. Getting to the point where you’re no longer horrified by the word “No” is a liberating moment that every negotiator needs to reach. Because if your biggest fear is “No,” you can’t negotiate. You’re the hostage of “Yes.” You’re handcuffed. You’re done.

Salespersons can win most of the negotiation battles with clients if they avoid saying an outright “No” even to impossible requests, pretend that you are trying before you say a “No” The art is to absorb all internal procedures and protocols & never let the insecurities reach the client till the last minute. Let the customer think that you have made the best effort.

some of the most commonly taught sales ideas on topics such as prospecting, asking questions, presenting value, creating urgency, justifying cost, negotiating, and closing, all conflict with science. This is a serious concern, because science discloses reality. When salespeople sell against science they are inadvertently selling in ways that decrease their effectiveness.

Deep in my core I believed I could sell this apartment. I was positive I could. Ready, set, GO! I called everyone. I spent the entire day emailing and calling people, trying to find a buyer. I never stopped believing I could pull this off. And it worked—I found one! After two weeks of negotiations, contracts were signed. Sold!

The Wow Moment also gave me a clear understanding of what products were in my price range. It helped manage my expectations. No one wants to hear, “Well, your budget is small, and therefore the sofas in your price range really aren’t that great. That’s probably why you hate all of them.” The Wow Moment is a kinder way to educate and assure a customer about their purchase. Serhant Secret #10 You can’t negotiate with someone’s wallet, but you can negotiate with their feelings. I first tried the Wow Moment on my client Amanda, who was looking for a rental on the west side of Manhattan and had a budget of about $3,500.

My number one rule at the beginning of any negotiation is to always counter. Clients so often feel there is no point in doing so—they’ll say, “We’re too far apart, there’s no point!” But I’ve seen time and time again how coaxing two parties to make counters can result in a mutually beneficial transaction where both sides feel they got a good deal (and the broker is happy because he got the sale done).

But bridging the gap isn’t as simple as coming down or coming up in price. You have to play to the fears. Remember how we discussed having Walls? And the Wall being our motivation to succeed? Buyers and sellers have the same thing. The seller’s biggest wall is a future in which they have Not Sold. The buyer’s biggest wall is a future in which they have Not Bought. Seems simple, right? I play to those fears in every negotiation. With my seller on 12th Street, I reminded him that the risk of not countering was going on the market and not selling at all.

I asked our business leaders in the depths of the recession to begin working with their suppliers to prepare for the recovery. This seemed impossible to leaders at the time, since many economists and some of my staff were predicting that we’d see an L-shaped recovery—one that was essentially nonexistent. Our sales, according to this view, would never rebound to their prerecession levels. I insisted that recovery would come, just as it always had in the past. And when it did, our short-cycle businesses had to make sure they were first in line for supplies. Our leaders began these conversations, working with suppliers up front to lock in first priority over our competitors when the recovery came. This represented independent thinking on our part—our competitors weren’t doing this. We also took the opportunity to negotiate better payment terms, price reductions, and long-term deals, which were all easier to obtain during a recession. As a result of this effort, we got a big lift as the economy improved, outpacing our competitors in our sales growth, to the delight of our investors.

Practice negotiating, and hone your style and skills with low-consequence transactions. Call the phone company, and threaten to switch providers if they won’t give you a better deal on your service going forward. Go to a boutique, and ask for a discount. Sales associates usually have the latitude to discount an item up to 10% without a manager’s approval. When the stakes are low, it’s a great time to work on your skills. Plus, it can be fun