Cornered by a Question
I've never conducted a negotiating seminar where I was the best negotiator in the room. Proof of that came during a recent presentation at Indiana University for the Certified Auctioneers Institute (CAI).
The experience reminded me that one always has to be on guard because there are good negotiators everywhere.
Cornered by a Question
On a class break a young fellow asked me for the price on my book.
I shared it was $25. His flinch indicated he had been paying attention during my program and we shared a laugh. He then posed a question that caught me off guard.
He asked, "What kind of discount can you provide if I bought them in quantity?"
I felt compelled to respond immediately and I shared that if he bought 15 or more I'd sell them for $18 each. I'll never forget his next comment. "So it's obvious that you'll still be making a profit when selling them for $18 each." I felt somewhat disarmed.
After a short pause I recovered slightly to say, "But I'd have to have payment for all 15 books at one time from one person." He said that could work and he promptly went to his fellow classmates asking if anyone wanted in on his quantity discount. I have to add that he found the 15, collected funds from each and made the bulk
That resulted in a win-win. I sold a lot of books. They received a good discount. And yes, I made a profit on each book sale.
I've reflected often on his technique, his question, "What kind of discount can you provide if I bought them in quantity?"
Do you realize how often we can use that question? Do you also realize that, more often than not, you'll learn about a lower price that someone would be willing to accept? Now you're probably not going to meet their quantity requirement, but you will find out about a lower price at which they'll still be making a profit. Now that information can be useful as you KEEP Negotiating.
On a personal note, I'm gratified by the many who have told me that they really enjoy and benefit from my weekly tips. Others have indicated they're ready to take their negotiating skills to the next level and want more resources to do so. I'm putting the finishing touches on just such an item. It's call the Negotiating Blueprint and it's designed to structure, build and enhance your negotiating capabilities. Details will be coming your way next week. In the meantime, KEEP Negotiating.
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Negotiating Tip 112: Misconceptions
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