Knowing when to dig your heels in and having the guts to walk is very important as a salesperson if you want to sell at higher prices and not get squeezed by the buyer. It’s a very simple game afterall – the rules can be reduced as follows
Buyer – wants the lowest price and will make you feel like your product is a commodity
Seller – want the highest price and tries as hard as possible to differentiate their product and show more value
The trick is to know your buyer and how far you can push to maximize the deal. It’s kind of like tug of war so who is going to pull the other over the line? You have to know what the line is to play this game and then you have to be willing to walk if you are crossing the line.
Make sense?
Brick
this is where constantly building pipeline is crucial. the buyers can smell desperation, when you’ve got lots of other options for closes the prospect who is hounding you on price isn’t so special. if you know you can walk away the prospect will know it too
nathan, correct – but my point is there has to be a hard stop and when you reach that you walk or you kill the value and the market. They always come back…that’s the neat thing if you really do have value.