How to Master the Art of Negotiation: 10 Proven Strategies to Close Bigger Deals

Leading Your Best Life with Leigh Farnell

Summary: "10 Powerful Tips for Negotiating and Closing Bigger B2B Deals"

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Summary of this podcast for you..

[00:00 - 02:30]

• Negotiation is the most lucrative skill in B2B sales and professional services.
• Importance of having a strategy to avoid leaving money on the table.
• Key audience: business coaches, consultants, accountants, lawyers, engineers, and other B2B service providers.

Chapter 1: Know Your Value

[02:31 - 05:00]

• Understand and articulate your tangible outcomes (e.g., increased revenue, productivity).
• Use monetized testimonials and case studies to build credibility.
• Pre-position yourself by showcasing your value before meetings.

Chapter 2: Research Market Rates

[05:01 - 07:00]

• Know the standard rates in your industry.
• Position yourself competitively—aim to be premium, not the cheapest.

Chapter 3: Tailor Your Offering

[07:01 - 10:00]

• Customize proposals to address client-specific challenges and goals.
• Use the POMVIC process to uncover problems, objectives, metrics, and value.

Chapter 4: Anchor High

[10:01 - 12:30]

• Start negotiations with a higher fee to leave room for concessions.
• Frame high fees by explaining the value and ROI behind them.

Chapter 5: Focus on ROI, Not Cost

[12:31 - 15:00]

• Shift the conversation from cost to return on investment (ROI).
• Use specific metrics to frame your services as a high-value investment.

Chapter 6: Package Your Services

[15:01 - 18:00]

• Offer tiered packages (e.g., basic, premium, VIP) to provide options.
• Highlight added value in higher-tier packages and create upsell opportunities.

Chapter 7: Set Non-Negotiables

[18:01 - 20:30]

• Define and stick to your minimum acceptable rate.
• Avoid undervaluing yourself or working with clients who don't align with your standards.

Chapter 8: Leverage Social Proof

[20:31 - 23:00]

• Use overwhelming, monetized proof to build confidence in your value.
• Share success stories, testimonials, and client outcomes.

Chapter 9: Be Willing to Walk Away

[23:01 - 25:00]

• Know when to step back if a client isn’t willing to meet your value.
• Walking away reinforces your confidence and positions you as a premium provider.

Chapter 10: Negotiate for More Than Money

[25:01 - 28:00]

• If fees are a sticking point, negotiate for testimonials, referrals, or longer-term commitments.
• Create win-win situations that add non-monetary value.

Conclusion & Call to Action

[28:01 - End]

• Recap of the 10 tips.
• Emphasize the potential for tripling sales and increasing profit margins with the CZ6 system.
• Invitation to join a coaching program designed to transform sales performance.