UNDERCOVER COACH
MONDAYS ARE A GOOD DAY I understand that Mondays are a good day for a computer bargain. It’s quieter in the shop but the sales team still have quotas to fill on selling cables and other peripherals. These are items that they can discount rather than the big ticket items where many computer manufacturers have already had to crunch down their prices against fierce competition.
THE UNDERCOVERCOACH’S FOURTH LAW OF NEGOTIATION: ‘ALWAYS ASK FOR WHAT YOU WANT BUT DON’T DISCLOSE YOUR BUDGET’ Please remember to take time to prepare, research prices and deals and then go shopping with a clear statement of what you want. Don’t be cagey, say what you want but do not disclose your budget. As a supplier I have got my best deals by knowing what the buyer’s budget was - so keep your budget figure to yourself.
THE UNDERCOVERCOACH’S FIFTH LAW OF NEGOTIATION: ‘THE MORE YOU WANT, THE MORE YOU GET FOR YOUR MONEY’. I spoke to a mechanical equipment supplier recently who told me he could give customers up to 10% discount on between one and five machines purchased, 15% off five to ten machines and 20% off more than ten. This being the case you might even want to try going shopping without knowing exactly what your budget is! Why? Because the more you have on your shopping list the more likely you are to get a deal. If you only want - or can only afford - one item you leave the vendor little or no flexibility unless it is a higher specification product with a bigger margin for the seller to play with.
Let’s imagine you are at a trade show. If you can get a better deal by buying more then ask the vendor to help you to buy more! Give him your shopping list and ask how long s/he needs to put a deal together. You can call back later or have a proposal sent to you. If the dealer has any sense s/he will send a proposal that is a package with payment plan options. This brings the time dimension into the deal and you can also offer to be a ‘delighted’ customer in their marketing materials – for another discount of course!
Their proposal will be the basis for further negotiation now or later on. You may not be in a position to buy everything at once but you can go for price guarantees over a period in return for your loyalty. As a supplier I know that my clients have fixed budgets every year but if I can make a deal now to get some of next year’s budget and the year after I am a happy supplier!
So remember, prepare well, do your research, make a big shopping list and ask for the vendor’s help. Good luck in your dealings with suppliers.
In ‘Deal or No Deal 3’ the Coach gives his tips on ‘Negotiating Pay and Contracts’.
If you have a negotiating situation coming up and you think it might help to talk to someone about it you can contact The UnderCoverCoach via the Editor Duncan McGilvray at
duncan@greenenergypublishing.co.uk
www.windenergynetwork.co.uk
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