From the Course: LinkedIn Learning Highlights: Sales
(upbeat music) - Establishing connection and trust is primarily a matter of small talk. People often make the mistake of cutting to the chase in an effort to appear businesslike, so break bread with your bargaining partner, and do not underestimate the power of small talk. - Sales people want to know where an interaction is going, but trying to get a quick win often derails a successful negotiation. You have to get your brain to a place where you're confident that you can win, and you're also okay with some degree of uncertainty about how you'll get there.
- When you put the first price out, you typically set what's known as an anchor. Strategically think about your offer, what is a reasonable price you would like to get? Don't censor yourself, make that your starting point. - Most people enter a negotiation thinking about what they can get, but one thing you want to do that will actually make you very differentiated is think about what you can give. It keeps you from negotiating on the purchase price alone, and it adds value in a way that makes the client feel great.
- You have to realize that this deal sets up future deals, in terms of the numbers, the terms you come to, as well as the tone of that negotiation. Thinking through multiple deals and the sequence of those events can help you drive a lot more value out of your negotiations. (upbeat music)