Creating a Win-Win
Creating a Win-Win situation for your company and your potential client is one of the most powerful relationships you can build. These situations provide consistent business and opportunities for both companies. There are a few things you need to do and consider to prepare for your first face to face meeting:
- Make a list of what you want to accomplish during the meeting.
- Anticipate potential concerns from the client.
- Check to make sure you are completely prepared.
- Listen more than you talk.
- Ask questions to find a need and create a solution.
- Solve a challenge for the client.
- Use and respect the clients’ format and time.
- Always follow through and go beyond expectations.
- Ask for what you need and seal the deal, when appropriate.
- Simplify your prospects life.
- Find ways to boost your credibility.
- Build and nurture relationships.
- Come from an attitude of contribution.
- Send a professional “Thank You” card or note immediately after your meeting.
- Learn from “no”. Find out what didn’t work so you know how to change it for the next time.
These are all important things to do before, during and after your presentation. With confidence behind your company and product you can create that winning relationship. The next step of the process is negotiation. This can seem a little intimidating but with a few tips and tricks can become natural to you.
Here are some tips to help you negotiate successfully:
- Build a pricing strategy and stick with it.
- Prioritize what you plan to offer. This should include what really matters to you and what you are willing to give in on.
- Don’t give in too quickly.
- Negotiate with a person, not a “company”. Don’t let their answer be that they would like to, but can’t.
- Don’t sell yourself short.
- Mitigate your pricing. If you go too low, you won’t be able to raise it back up and you need to make a profit.
- Don’t sacrifice quality for the deal.
- Your services should always count as costs.
- Boost margins with add-ons.
- Handle request for proposals with the utmost care.
These are the ways you make sure that both parties are getting the best possible situation from the partnership. Once you start meeting or working together, it’s important to continue to build your relationship so that representative becomes an ally for you. They are more likely to vouch for you and build on the partnership you have created with their company.
We like to call this person an advocate. They are an advocate for you and your company and can bring a stronger, brighter future to your company. Here are the characteristics of a great champion:
- They are respected by their supervisors.
- They are socially networked and connected.
- They think in the best interest of their company’s long-term position.
- They are able to quickly navigate through the company to get things done.
- They are willing to give credit to another person.
- They share the same business philosophy, values and vision as you.
Knowing how to negotiate a win-win for both parties is a valuable skill to develop. This hinges on your ability to create relationships of trust and contribution with other professionals. Building these types of relationships will create a steady and consistent stream of business for you and your company.
If you want help learning how to create strategic, win-win relationships for your company, download our e-book on Becoming a Person of Influence.