Unlock Negotiation Gold – Don't Lose the Deal
Have you ever walked away from a negotiation feeling like you could’ve done better? It’s often the small mistakes that cost the most.
At Millens, we’ve helped countless clients turn tough negotiations into winning deals. Here are two game-changing tips to get you started: Watch the short video now.
Don’t leave your next deal to chance. Contact us today, and let’s turn your challenges into opportunities
VIDEO TRANSCRIPT
Ross Millen:
I've recently been helping some of our clients with commercial negotiations, and what I've seen over the years is how people can make very, very simple mistakes that make them lose the deal. That make them end up with a deal that's so much worse than what they wanted. Now, today I am going to give you two bits of information that are negotiation gold. The first one is make the other side go first. Whoever speaks first, they're the loser. Make the other side make the first offer. Either that's going to set your floor or your ceiling. Then, you know, can never do a worse deal than what they made at their opening bid. The second thing and the second mistake I see that people make that lose them a great deal is they start bidding against themselves. Now, never do this. You wouldn't go to an auction and bid a million dollars and think, oh, maybe I'll bid a bit more.
Maybe I'll bid 1.1. No. But this happens in negotiation a lot. You make an offer, someone makes a counter offer, it's still not good enough. What do you do? You come back and make another offer, and then there's silence. So you think, oh, I want to get a deal. Maybe I'll make an even better offer, or even a better offer, or a better offer. So they're sitting there doing nothing, getting a better offer every time. So what you can do is if you're waiting for the other side, you just sit and wait as well, and then you just say, look, the ball's in your court. You've got to come to me with something, and you make sure that the other side comes back with a realistic counter offer before you make your next bid. So these are some negotiating tips. Hope you enjoy them. You've got any difficult commercial negotiations, remember to contact me or anyone else at Millens. We're here to help.
