Negotiation
Client avoids price crumbling
June 26, 2006
Don’t be a price crumbler. A client of mine from a recent masterclass told me how he had stopped one of his managers caving in on price when a customer said that they wouldn’t pay his fee. The deal had both a fee and an interest margin. Instead of giving in on the fee my client and his manager went to see the other side. Having brainstormed the likely arguments first, planned their positions (best position, target position and walk away position) provided an agenda in advance and agreed a an appropriate time out; they felt much more confident. At the meeting they established it wasn’t the amount of the fee it was the timing of the payment. So they agreed it could be paid over 7months at £10k a month. This was worth potentially £67.5k. Make sure your negotiators aren’t giving away your profits by CRUMBLING.
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