Does the following situation sound familiar?
You, or someone who works for you, is closing a sale, and the topic of price is raised. The customer asks for a reduction. The thought process is, “If I don’t immediately make a significant reduction I will lose the sale.”
Panic sets in, a reduction is made, and, lo, you are simply giving it all away. The warped logic of the title makes more sense than this.
My tender negotiation advice is very simple. Recognise this request for a reduction as the start of negotiation, or possibly just the customer trying it on. Remind yourself that there are tactics that apply in these circumstances, and that both parties can win.
Then relax and enjoy it!
Musical References:
- I Started Out with Nothin’, and I Still Got Most of It Left – Seasick Steve
- Giving It All Away – Roger Daltrey
If you are looking for tender negotiation advice, or know someone else who would benefit from out tender services, please do not hesitate to contact us.