Mid-December usually means one thing to my clients – Negotiating Season.
I can't tell you how many times I hear from clients who have followed a Customercentric sales process, listened, documented and followed their customer's buying process, and then at the 11th hour screwed up the negotiation at the end of the deal. Sometimes, it's still a "win". Others it's a loss or no-decision. Often, it leaves a bad taste in the seller and buyer's mouths. Yuck.
So, I thought it appropriate to re-post a video log - "vlog" – entry from the CEO of my domain supplier GoDaddy.com.
Maybe you don't like his risque marketing campaigns, brash style or maybe even his earrings. Still, you can't argue with Bob Parson's impressive track record. Parson's is the CEO and Founder of The Go Daddy Group, Inc.
I took the following notes. What would you add?
1) To succeed often you need to compromise.
2) Know what you want and what you are willing to let go.
3) When you are talking you are not listening. Listen. Whoever talks more often loses in a negotiation. Take the time to hear the other side's goals and needs so you have a solid understanding of what you need to do to win.
4) Keep it professional and don't get adversarial.
5) Only make threats you are willing to follow through on.
6) If either party has to give on "must haves" it will likely ruin relationship later.
7) Be prepared to walk rather than risk a bad deal.
I hope you enjoy this video and learn from it.