How you can avoid being taken advantage of in sales negotiations
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Do you feel at a disadvantage when negotiating the sales in your business. This presentation will show you how to remain in the box seat and get the best possible outcome for your business
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How you can avoid being taken advantage of in sales negotiations
- 1. How you can avoid being ‘taken advantage of’ in sales negotiations © Copyright One Sherpa Pty Ltd 2010
- 2. When you are negotiating with customers, which is more important? TERMS or PRICE © Copyright One Sherpa Pty Ltd 2010
- 3. How many times have you forgotten about terms when negotiating a sale? © Copyright One Sherpa Pty Ltd 2010
- 4. Have you been so focused on making a profit that you simply didn’t consider how and when you might get paid? © Copyright One Sherpa Pty Ltd 2010
- 5. Have you been guilty of thinking you’re making money, when all you were focused on was making profit? © Copyright One Sherpa Pty Ltd 2010
- 6. Which do you think is more important? TERMS or PRICE © Copyright One Sherpa Pty Ltd 2010
- 7. What gets affected in a sale when you focus on Terms? The level of Accounts Receivable. © Copyright One Sherpa Pty Ltd 2010
- 8. This is where money gets stuck in your business because your customers are NOT paying you © Copyright One Sherpa Pty Ltd 2010
- 9. Terms can be measured in days but this will translate into money that your customers owe you! © Copyright One Sherpa Pty Ltd 2010
- 10. What gets affected in a sale when you focus on Price? The sales value and therefore the margin that you will make on those sales © Copyright One Sherpa Pty Ltd 2010
- 11. If you fail to earn the right margin… you will not get enough money to survive even when your customers finally pay you! © Copyright One Sherpa Pty Ltd 2010
- 12. So which is more important? or PRICE? TERMS © Copyright One Sherpa Pty Ltd 2010
- 13. The truth is that they’re both important. © Copyright One Sherpa Pty Ltd 2010
- 14. It’s not a case of It’s a case of EITHER / OR BOTH / AND © Copyright One Sherpa Pty Ltd 2010
- 15. So where will you find out how you’re going with this in One Minute Business Checkup? © Copyright One Sherpa Pty Ltd 2010
- 16. There are two of the measures which will be affected by the decisions you make around Terms and Price © Copyright One Sherpa Pty Ltd 2010
- 17. Let me show you how to check these measures in One Minute Business Checkup © Copyright One Sherpa Pty Ltd 2010
- 18. PROBLEM #5 © Copyright One Sherpa Pty Ltd 2010
- 19. Let’s take an example where you were negotiating prices on your largest customer who was purchasing $200,000 of your sales each year You were looking for a 10% price increase and the customer agreed to the increase if you would increase their terms from 30 Days to 60 Days © Copyright One Sherpa Pty Ltd 2010
- 20. Let’s first look at the price increase. CALCULATION OF INCREASE 10% on $200,000 would be an additional $20,000 in sales © Copyright One Sherpa Pty Ltd 2010
- 21. $20,000 more Sales Increase in Margin from 20% to 21.9% © Copyright One Sherpa Pty Ltd 2010
- 22. Let’s look at how the new terms will affect Accounts Receivable CALCULATION OF CURRENT OUTSTANDING 30 Days / 365 Days * $200,000 = $16,438 CALCULATION OF NEW OUTSTANDING 60 Days / 365 Days * $220,000 = $36,164 An Increase in Accounts Receivable of $36,164 - $16,438 = $19,726 © Copyright One Sherpa Pty Ltd 2010
- 23. $19,726 more A/c Receivable © Copyright One Sherpa Pty Ltd 2010
- 24. Checkout your own information now. © Copyright One Sherpa Pty Ltd 2010
- 25. Using the sandbox you can ‘play with the numbers’ to make sure your sales negotiations get the best results © Copyright One Sherpa Pty Ltd 2010
- 26. Go to www.oneminutebusinesscheckup.com and make sure you’ve got the best price negotiation in your business © Copyright One Sherpa Pty Ltd 2010