Never Negotiate the SPIRIT of the Deal

Okay, so I am an organizational development geek, admittedly. But I want to share with you a moment in a meeting that I found so perfect, so clarifying, so break through the bull, because I promise you can use it immediately in just about any situation. Here it is: Before collaborating, and I use that term very loosely, be sure that all parties share the same spirit of the agreement to come.

Some examples:

Before you agree to co-host a bridal shower, be sure you both will share in all expenses and work involved. True Co-Hosting, Big C Big H. Or does the other person mean: she expects you to have it at your clean house, you to pay for the food and drink, you clean up the mess, handle RSVPs and she's just "helping where you need her". She'll "be there for you". Small c Small h.

Entering a business deal as partners on a project to a shared client. What does the term partnership mean? 50-50? 10-90? Both are perfectly acceptable, as long as it is clear from the beginning. 

What is the spirit of the deal?

What is the spirit of the collaboration?

Warning!! Warning!! If you are walking into the deal WITHOUT the same spirit, no matter what you  negotiate, there will be trouble ahead!!

In the meeting I was at, we were discussing a possible collaboration between two organizations with complementary missions coming together for a joint event. A collaborative effort. A partnership. One of the masterminds behind this plan said: "Before we sweat the details of this proposal to organization #2, let's make sure that they are open to the spirit of the deal. Organization #1 is in charge of and owns the overall event. Organization #2 will own a portion of the overall event". She was absolutely right in simplifying the approach. Be sure the spirit is agreeable before you commit to anything.

You've probably learned that a lack of communication up front can sour a deal later on. But this "spirit discussion" will bring clarity to all the little details along the way.

I wish I had learned this a long, long time ago. I could have saved myself from so many business regrets, not to mention cursing under my breath during bridal showers!

When you you get to the dirt of the deal, here's the best book yet on negotiating: You Can Negotiate Anything by Herb Cohen

Would you like fries with that?

No matter what type of business you are in, the old truism stands: Nothing happens until someone sells something. You may be the best at what you do, but if you avoid selling, you are dead in the water. If prospecting isn't your idea of fun, and let's face it, who among us enjoys cold calling, maybe there is another way to boost your selling. 

Before you get a cold call panic attack, let's maximize each sale that comes in the door now. Fast food companies are the ultimate marketers of selling more than the customer plans to buy. "Would you like fries with that?" or, " Would you like to Super Size that for just a dollar more?" Why not apply the same philosophy to how you service your current clients? 

Keep them in the Family

Do you have related products or services to your core business? Begin today to offer them with every sale! Consider packaging or bundling products and services with different names (Silver, Gold, Platinum). Example: Siding installers can offer power washing. Call it what you want but offer an add-on of 3 annual power washings and free inspections. 

Get a Commitment

Do your customers need your services repeatedly? Example: Hair stylists... Offer an annual hair care package of a cut every 8 weeks, color every 16 weeks, nail service and a $50 retail credit for products. Discount it for advance purchase or throw in a labor only expense such as unlimited brow waxing.

There's a place down the road...

Could you expand your line of products or services. Here's an exercise: What type of referrals do your salespeople make most often to another business. Why pass revenue to someone else's cash register. If you are a window cleaning service, think about adding screen repair. If you are a travel agent, consider a house or pet sitting service.

It's that time of year

Check in with customers as they near the anniversary date of their last purchase. Your business may be seasonal, or the customer always calls you in October because that is when their birthday reminds them of your service, in any case, take advantage of the opportunity to call and check in. Even if it is just to "see how things are". It is a chance to tell them about new offerings that may be of interest.

Your current clients are the easiest path to larger revenues. Before you embark on a prospecting campaign, be certain that all staff with customer contact are looking for sales potential of current buyers and that they have a menu of offerings.

Good luck and get selling!,
Mary