Negotiating Success: Knowing What You Want

What's the most fundamental negotiating mistake?

Not knowing what you want.

Well, of course you know what you want. You want EVERYTHING. A huge deal, signed right away, on perfect terms etc. etc.

But you probably can't get that. And trying to get EVERYTHING is probably costing you the chance to get what you need the most.

How do you fix this?

Sit down and ask yourself what you COULD prioritize.

Then decide what you want the most.

And decide what you're willing to offer to get what you want the most.

You've done this well when you can say "Our priority is to secure [X]; to make that happen we can be flexible on [Y]."

So what could you prioritize?

1. Deal Size: Total ACV

2. Future Deals: Setting the account up well to upsell in the future

3. Speed: Get the deal by EOQ

4. Certainty: Be sure we win rather than the other vendor

5. Unit Price: Get the highest price per seat

6. Terms: Payment terms, contract length etc

You probably can't max all six of these out.

What do you want most?

What are you willing to trade to get it?

That's the path to negotiating success.

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If you liked this article, our article on the Four Modes of Negotiating. You can also look at the P.S.I. Selling Content Page for more insights on sales communication, strategy, and leadership.

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