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Get beyond ?yes?: Time is your enemy. Once you?ve gotten
your target to agree in principle that you?re going to make
this deal, move them as quickly as possible toward getting
it into writing. That?s because into the narrow opening
between ?yes? and signing on the dotted line can creep
things common sales problems like second thoughts,
competition or unforeseen events. So if you get a verbal
expression of interest, then move resolutely toward a verbal
commitment, then as quickly as possible to a written
agreement that hopefully closes out the sales cycle.
Create a sense of urgency: Sometimes the person on the other
end of the deal will be happy to close it ? when they can
get around to it. Timing may be much more important to you.
So if necessary, you want to create a sense of urgency to
get their commitment, and that may require some final
concessions to refocus their attention. This may involve
offering a 2% greater discount, net-30 terms instead of
net-10 requirements, or offering a two-year service
agreement instead of one-year coverage. You?ll know what it
takes.
Use the threat of competition: Unfortunately, in order to
get the other side to close, sometimes an entrepreneur will
have to get them to understand that if they don?t do the
deal with you, you?ll do the deal with someone else.
Sometimes this involves bluffing, sometimes enhancing the
appeal of what you?re offering. But if you can convince the
target of your deal making that you?re doing something
that?s going to become powerful, everybody wants a piece of
that.
Generate ?late-breaking news?: Throughout the
relationship-building and negotiating process and beyond, be
funneling helpful new information to the other party. This
might be a press release about a new product, a copy of a
story about your business that you?ve managed to land in the
local newspaper, the result of a new independent test of
your service, or that one last testimonial from an existing
customer that you?re keeping in your back pocket.
Be prepared to not close: The reality is that most deals
don?t close, if you measure by the number of potential
relationships and transactions that your company pursues.
Something happens. There isn?t a fit. The timing isn?t
right. You must disdain losing any deal and fight hard to
land every last one. But you also need to be sober about the
percentages ? so you can raise them.
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