Tuesday, January 20, 2009

Closing Time

I recently read Ron Hubsher's book, Closing Time the Seven Immutable Laws of Sales Negotiation.

Closing Time is a short book (84 pages) with seven simple immutable laws. It is the simplicity of the book and of the laws that I find appealing.

The first immutable law is you must be the buyer’s number one choice. Otherwise all you are doing is giving the buyer fodder to negotiate with their number one choice. He also gives a number of suggestions on how to become number one.

Immutable law number 5 is to expand the pie with a set of non-monetary trade-ups. I call this creative negotiating and I have been practicing this forever. The gist of it is to look for things that the buyer places high value on and that have low cost to you. For example, it might be training or marketing, or mention in your advertising that you can offer to the buyer. It also works in reverse, ask your buyer to give you something that they don’t value much but you do; for example, being a reference account or allowing you to demo the product at their site for other customers.

Immutable law number 7 is to know your walk-away conditions. I have often seen people not walk away from bad business. One of the ways to be successful in business is to do only good business. I know this is easier said than done.

You will need to read the book to get the rest of the immutable laws.

Time Management Quote for the day:

Well arranged time is the surest mark of a well arranged mind.

Sir Isaac Pitman (he's the guy who invented short hand)


At 4:56 AM, Anonymous Brenda | Trade Marks said...

Once again great post. I have to agree with you on the one point on when to walkaway a lot of us just don't know when to do this, be it in a personal issue or a business one and I think once we learn this it will make us all as individuals better people personally and in business.


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