A friend recently asked to drive my car so I wasn’t surprised when he told me that he had bought one the same. He proudly proclaimed that he managed to screw the salesman into the ground and got 15% of the ticket price. He told me that negotiation was easy.
In this case the negotiation certainly should have been easy. My friend held all the cards; it is simple to find the market value of a second hand car and just as easy to do a web search to find all the available cars for sale in the local area. So why did he end up paying £1,400 above the recommended guide price?
The answer is simple; he did a deal with a trained negotiator, someone who knew the value of what he was selling and how to extract maximum value from it.
The success of your business depends on two things; sales and negotiation.
Selling is hard. Unless yours is the ‘must have’ product this Christmas. The more ordinary your product or service, the harder you have to work to sell it.
Negotiation is hard. Even if you hold all the cards, it takes skill, experience and knowledge to get the best deal.
The Times recently analysed National Audit Office figures and found over £30 billion of unnecessary spending over the last two years. The Times says that if better negotiation training had been in place, savings of around £20 billion could have been made.
The chairman of the Public Accounts Committee said “I think we get ripped off too often because we don't have appropriate skills..”
Is the same true of your business?
Business owners, just like my friend, usually walk away from a deal thinking they have done well, of course, agreement wouldn’t have been reached otherwise. But how do you know you really do have a good deal?
We have been looking at this phenomenon and over 90% of negotiations are based upon subjective feelings which result in a poor agreement.
Company’s who have undertaken Ryboc’s Negotiation Skills training typically see 16% increase in sales, 8% increase in sales price, 6% reduction in direct purchase costs and 4% reduction in overhead costs. Imagine what that would do for your business.
It all comes back to you, you only get what you negotiate so make sure you are prepared for 2013 and get your staff trained in negotiation skills.
Please visit http://ryboc.co.uk/2012/12/kick-start-2013/ for more information about our courses or one to one coaching, alternatively call me on 0118 9071341.
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