Think Before You Speak

You are talking to a customer and after you present your product, service or solution, she asks, What discount can I get? or What can you do about the price? Think before you speak otherwise this innocent-sounding question will cost you money right off your bottom line. While its tempting to offer a discount or better price resist the desire to do so. Heres why.

First, just because someone asks you for a better price, does not mean they expect to get it. Some people ask for a discount because they have been told to. They are often uncomfortable doing this and will seldom press the issue. However, professional buyers and key decision-makers know that many sellers will drop their price at the first sign of resistance so they ask everyone for a discountand they can be aggressive in their approach. Plus, experienced negotiators lose respect for people who drop their price too quickly. Standing your ground and refusing to cave in right away is also a show of strength and executives respect this type of behaviour.

Second, when you drop your price too quickly, you teach your customer to repeat that behaviour in future transactions. Remember, everything you do now...