What are the two most common bluffs used when negotiating deals? I can get the “same thing” “cheaper” from your competitor. Unless you’re selling T-bills or pork bellies, this just isn’t true.
There are several tests to this:
Is there a professional seller and buyer involved in the deal?
Does someone in the market have a price premium?
Does anyone in the market have a share premium?
If any of these answers are yes, then the "same thing" "cheaper" statement is a bluff and is not true. If it is a commodity then it would simply be reversed auctioned on the web and there would be no need for a professional buyer or professional seller. If it is a commodity there would be no price premiums and the lowest price alternative would have all the share.
The antidote? Rigor. Analytical rigor on what the client’s needs are and how you help them achieve their goals better than their alternative.
Behavioral psychologist Robert Chialdini says,
"Very often when making a decision we don’t use all the relevant available information; we use instead a single piece of the total. An isolated piece of information can lead us to clearly stupid mistakes that when exploited by clever others leaves us looking silly or worse.”
Take the time. Do the work. There are no shortcuts.
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