Negotiation techniques for a Downturn

Source: eGrabber Newsletters

Among the skills most sought after in a seller is the ability to negotiate. Here are 3 things you should know as you prepare to negotiate:

• Know what you want exactly
• Decide on the lowest price you are willing to accept from the prospect
• Know when to walk away
  

It is also prudent to determine the above 3 things for the other side (prospect) too. Given the nature of the economy, many sales people make the mistake of rushing in with offers and discounts without determining what the prospect is willing to pay. They then negotiate on the discounted price. You must resist the urge to do so.

Remember, your negotiation should always focus on solving the problem and closing the gap between what both parties (you and your prospect) want.