INKED | Jeb Blount

Summary of: INKED: The Ultimate Guide to Powerful Closing and Sales Negotiation Tactics that Unlock YES and Seal the Deal (Jeb Blount)
By: Jeb Blount

Introduction

Get ready to elevate your sales negotiation skills with the key insights from ‘INKED: The Ultimate Guide to Powerful Closing and Sales Negotiation Tactics that Unlock YES and Seal the Deal’ by Jeb Blount. This book summary delves into the common pitfalls faced by salespeople in negotiations and provides a framework to overcome them. Discover the power of emotional discipline, micro-commitments, and sales EQ in winning negotiations. Learn the importance of aligning your sales and negotiation processes while protecting valuable relationships. Master the sales process steps, from identifying prospective clients to closing the deal, and emerge as a seasoned sales negotiator.

Mastering Negotiations for Sales Success

Most salespeople struggle during negotiations due to lack of proper training and emotional discomfort. Negotiating skills should be an integral part of the sales process, and not treated as a separate entity that has nothing to do with sales negotiations. Furthermore, many negotiation instructors lack sales background and fail to relate their teaching to the actual circumstances experienced in the field, rendering their training ineffective. The biggest challenge faced by salespeople during negotiations is the lack of backup prospects, which results in pressure to close deals, often leading to undue concessions. Therefore, the key to successful negotiations lies in mastering the art and understanding its significance within the sales process to secure great deals.

Mastering Sales Negotiation

Successful sales negotiation requires emotional discipline, mastering the sales process, protecting relationships, and leveraging micro-commitments. To negotiate like a pro, follow these seven basic rules: Win first, then negotiate; play to win; protect relationships; master emotional discipline; master the sales process; never give leverage away for free; and eliminate and neutralize alternatives. Understand that sales negotiation has more to do with emotion than with logic, so be sure to ask strategic questions that will help you identify your prospect’s non-negotiables early in the process. Maintaining a positive long-term relationship with your customer should be your primary goal, and it starts with handling the initial sales negotiation correctly. Remember, in sales negotiations, win-win is irrelevant, do your best to gather up all the marbles!

The Power of Information in Sales Negotiation

To master the sales process, it is crucial to focus on discovering relevant information about potential buyers’ primary concerns. Salespeople must allocate 80% of their time to proper discovery activities, as insufficient discovery often leads to a weak negotiating position. The steps to follow include identifying prospects, qualifying them, aligning buying and selling processes, securing micro-commitments, creating proposals, and handling objections. However, the “value bridge” connecting proposals to stakeholders’ business outcomes is critical. Salespeople who prioritize a win-win mindset may struggle in negotiations, and a strong emphasis on discovering information is vital to constructing a compelling sales and negotiation case.

Mastering Sales Negotiation

Sales negotiation is a critical part of any sales process. The target and limit zones are the key to developing negotiating fallback positions. In advance of any negotiation, plan the exact steps you need to take to achieve your goals. If the only thing your customers are concerned about is price, your company doesn’t need you. Develop the target zone on the sales negotiation map, which is the negotiated win. The limit is your bottom line, beyond which you will walk away. Perfect the art of sales negotiation by planning your fallback positions in advance.

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