Unless You Do Want to Lose the Deal

 

“Never Split the Difference.”

Book by Chris Voss

  

The initial list came from Leslie Ye and her article ‘7 Things You Should Never Say in a Negotiation’:

1.     'This call should be pretty quick.'

2.     'Between'

3.     'What about a lower price?'

4.     'I have the final say.'

5.     'Let's work out the details later.'

6.     'I really need to get this done.'

7.     'Let's split the difference.'

She explains why: “Negotiations can be finicky, tricky engagements — and they have the potential to turn sour if you're not thoughtful and deliberate in how you approach them. The phrases listed here have the potential to undermine your position and put you at an unnecessary disadvantage in these kinds of conversations.”

And looking over this list, I most definitely have used 2. and 7. myself before, as well as a few others I should not have. Here are three more I would add to the list of the “Don’t Ever Say” phrases:

8.     ‘Let’s make this a home run.'

9.     ‘I don’t remember.’

10.  ‘I assume.’

Now, let’s look at why these are undermining your position:

‘This call should be pretty quick’: Assuring your prospect the negotiation will be quick and easy won't put them at ease — it'll do the opposite. In a negotiation, people feel more comfortable knowing there's plenty of time to discuss the terms and come to a decision. If they feel like the clock is ticking, they'll become more guarded and tense.

‘Between’: If you give your prospect a price range from $12,500 to $15,000, guess what’s going to happen? They’re going to ask for $12,500. Not to mention that the lower price anchors your prospect's perception of your product's value. They may have previously thought $15,000 was a good price, but as soon as you mention $12,500, the higher number will seem extravagant.

‘What about a lower price?’: You’re not always going to be able to sell your product at full price, and that’s okay — with one big caveat. If you offer a price cut, make sure you’re getting something in return. Will they sign today? Will they commit to a longer contract? Keep the bottom line in mind: Do Not Discount.

‘I have the final say’: It might seem like a good strategy to position yourself as the ultimate approver to show your strength, but it’s not — even if you are. Keeping your approval power to yourself gives you an out if you need one, and that can be crucial in high-stakes deals. Sometimes, you'll need time to step back from the negotiation to review the deal in front of you.

‘Let’s work out the details later’: They say the devil is in the details for a reason. You wouldn’t hire a contractor to build you a house without signing a statement of work. Similarly, you shouldn't agree to a price without understanding exactly what your prospect expects you to provide.

‘I really need to get this done’: Maybe it's the last day of the month, and you need this one final deal to make your quota. We've all been there. But if you openly admit that you need to close this deal today, your prospect will sense your urgency and may exploit it to their advantage. They might try to negotiate more audacious terms or push for additional concessions.

‘Let's split the difference’: It might seem like a fair compromise, but it significantly decreases your margins and diminishes the perceived value of your product. Instead, try to find alternative solutions that meet both parties' needs. Perhaps you can assist with data migration, provide additional marketing support, or offer personalized training to mitigate the need for extensive customer support. Be creative and explore other avenues before resorting to meeting halfway and compromising your position.

‘Let’s make this a home run’: What does that even mean when you do not know the game of baseball? It is a good example of an analogy that requires both parties to be culturally aligned; otherwise, the analogy loses its magic. And worse, you could be deemed culturally insensitive.

‘I don’t remember’: Fail to prepare and prepare to fail. Too often, people rush into negotiations without proper planning. Before you start, make sure you understand not only your position but also all of these elements for the other party. Know every aspect of any prior interaction with this client. Being caught off guard leads to erratic decisions. Even with a lot of experience, nothing beats preparation.

‘I assume’: Assuming is accepting something as true without question or proof. It is easy to do, it is convenient when the truth fits one’s own thinking, it is quick as no time is needed to check, it is comfortable as all debate is avoided, and it often happens unconsciously. And because of all that, it is a trap, one that we all fall into way too easily.

 

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Leslie Ye – 7 Things You 7 Things You Should Never Say in a Negotiation Never Say in a Negotiation