For some companies and individuals, the negotiation before the close is long, gut wrenching, and sometime tense. Lots of people play games at negotiation-time: one-off requests, take-backs, hidden competition, unknown decision makers, etc.
And then there’s the lawyers.
If you’re selling to a company that plays games at negotiation, it’s frustrating, but not hopeless. And the respective legal teams don’t have to be a problem to manage — they’re just doing their job, working to protect their client.
The thing to do to make negotiation a snap and limit the monkey-games people play is have the conversation before the final proposal is presented.
Before you submit a proposal, discuss the deal with the buyer in simple, plain English. Discuss and present a DRAFT of the agreement the way you and the buyer understand it — who will do what and when. Don’t make it formal. Make it accurate and simple to understand. Get agreement with the buyer that the simple, straight-forward understanding you have is common to their understanding. Then take that simple understanding and formalize it into a final proposal for execution.
I’ve negotiated contracts of all size this way. It eliminates a lot of misunderstanding, cuts negotiation games to a minimum, and speeds the contract signing phase of closing the sale.
What prompted me to write about this is a post by Tim Berry titled Three Simple but Powerful Rules for Negotiation. The tip I share in this post is the same as the third one Tim offers. I can firsthand attest to its power in closing a deal.
Be sure to read Tim’s post, it offers great practical advice. Better, read his blog…good stuff.
What practical advice would you add to Tim’s list?