In today's episode, we delve into the world of negotiation with Tarun Malik, director of mid-market sales at Touch Bistro, and our host, Brian Dietmeyer, CEO of Close Strong. Together, they uncover the critical role of building relationships and understanding buying personas in successful negotiations. They offer invaluable insights into common negotiation mistakes, the changing sales landscape, and the need for adaptability in modern negotiations. Join us as we dissect the impact of fear, the value of personal connections, and the shift in the negotiation process in today's ever-evolving world of sales. Stay tuned as we navigate the complexities of negotiation, uncovering strategies for driving value and building successful business partnerships.

Timestamps

00:00 Buyer-seller discussion to reach sale agreement.

04:34 Negotiation process is crucial for value delivery.

09:09 Selling climate changed with informed buyers. Large competition.

10:57 Better data on customer needs changes negotiation.

15:52 Analyzing, linking, and creating perceived value in business.

17:13 Buyers often make suboptimal decisions based on emotions.

21:43 Navigating strategic and tactical discussions in business.

23:14 Negotiating value, shifting conversations, and commercial terms.

29:01 Firm beliefs in necessary sales process steps.

30:12 Early discussion important for successful commercial negotiations.

34:36 Improving internal deal approval and negotiation process

36:24 Negotiating within organization requires understanding individual stakeholders.

40:30 Understanding value for buyer and business.

42:53 Mistake in pricing without considering broader context.

00:00 Introduction to Negotiation with Brian and Tarun
01:18 What mistakes do you see people make when negotiating in your own organization?
02:40 What mistakes do people commonly make when negotiating, particularly in sales?
05:29 Why do people start negotiating too early and how is it driven by fear?
07:53 How should negotiation change in a world where buyers have more data and the competitive landscape is rapidly evolving?
11:40 Adaptability in Negotiation
16:27 What is the role of emotion in the negotiation process, and how can it affect buyers' decisions?
21:44 Is the conversation we're having the one we should be having?
33:04 Buyer Fatigue in Long Sales Cycles
34:42 What's your thoughts on the internal negotiation and how it relates to the external?
40:04 What do you think is the number one mistake that sellers make in a negotiation?
42:42 What are the common mistakes made in negotiations according to the discussion?

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