loader from loading.io

The Importance of a Collaborative Negotiation with Keld Jensen, Ep #198

Sales Reinvented

Release Date: 06/17/2020

Build Options Into Your Negotiation with Sheila Heen, Ep #212 show art Build Options Into Your Negotiation with Sheila Heen, Ep #212

Sales Reinvented

Why should you build options into your negotiation? How do different options influence the potential customer towards making a deal? Does it cheapen your service offering? Sheila Heen joins this episode of the Sales Reinvented podcast to share her take on the negotiation process—and why she believes presenting the customer options can be a gamechanger.  Sheila Heen has taught negotiation at Harvard Law School for 20+ years. She is the founder and CEO of Triad Consulting. She also co-authored two New York Times bestsellers: and . Take advantage of her years of experience in negotiation...

info_outline
The Power of Leverage in Negotiation with Steve Hall, Ep #211 show art The Power of Leverage in Negotiation with Steve Hall, Ep #211

Sales Reinvented

Do you know how to use leverage in negotiation? Or are you afraid to come across as demanding, therefore harming your relationship with a prospect? Today’s guest on the Sales Reinvented podcast—Steve Hall—shares how you can use leverage in negotiation that creates a mutually beneficial outcome for all sides.  Steve is the Managing Director of Executive Sales Coaching of Australia and is recognized as Australia's leading authority on selling at sea level. He is a member of the Sales Experts Channel and has been a finalist in several categories in the Top Sales World Awards. Don’t...

info_outline
The Role of Intellectual Curiosity in Negotiation with Mike Macchiarelli, Ep #210 show art The Role of Intellectual Curiosity in Negotiation with Mike Macchiarelli, Ep #210

Sales Reinvented

Intellectual curiosity is a curiosity that leads to the acquisition of knowledge. The intellectually curious have a deep and authentic need to understand the world and the people around them. In this episode of the Sales Reinvented podcast, Mike Macchiarelli shares how intellectual curiosity influences the negotiation process. Don’t miss this episode! Mike Macchiarelli has over ten years’ experience in B2C selling as a salesperson, trainer, and manager. During his time with Equinox—a global luxury-lifestyle fitness brand—he won numerous awards and has helped to train over 1,000...

info_outline
Why you NEED to Know Your Walk-Away Point with Diane Helbig, Ep #209 show art Why you NEED to Know Your Walk-Away Point with Diane Helbig, Ep #209

Sales Reinvented

Why is knowing your walk-away point so important in a negotiation? How does it influence the process? In this episode of the Sales Reinvented podcast, Diane Helbig shares her thoughts on knowing your floor—your bottom-line walk-away point—and why it’s such an important part of the negotiation process.  Diane Helbig is an international business advisor, sales trainer, and growth accelerator. She is the author of and the host of the Accelerate Your Business Growth podcast. Don’t miss her unique take on the negotiation process! Outline of This Episode [0:36] Diane’s definition of...

info_outline
Get Comfortable Being Uncomfortable with Negotiation with Perry Green, Ep #208 show art Get Comfortable Being Uncomfortable with Negotiation with Perry Green, Ep #208

Sales Reinvented

It’s time to get comfortable being uncomfortable with negotiation. The vast majority of the population finds negotiation uncomfortable and they allow that discomfort to derail the process. Today’s guest on the Sales Reinvented podcast—Perry Green—shares that it doesn’t have to be that way. It can be a game-changer if you learn how to embrace the discomfort and move beyond it.  Perry Green is a highly accomplished and experienced negotiation executive, with over 25 years in the CPG industry. He is a past recipient of The President’s Award, Nestle’s highest sales honor. He’s...

info_outline
Negotiation Tools, Tactics, and Strategies with Kristie Jones, Ep #207 show art Negotiation Tools, Tactics, and Strategies with Kristie Jones, Ep #207

Sales Reinvented

Do you have the right combination of negotiation tools, tactics, and strategies in your arsenal? Do you understand how important it is to develop negotiation skills? In this episode of the Sales Reinvented podcast, Kristie Jones shares some of her favorite negotiation tools. She also gives some sage advice about the negotiation process. Don’t miss it!  Kristie Jones is the Principal at the Sales Acceleration Group. Kristie is the go-to expert for tech startup founders who want to accelerate their revenue by improving their sales strategy, process, and people. She uses her 15+ years of...

info_outline
Ask Leading Questions in Negotiation with Ian Moyse, Ep #206 show art Ask Leading Questions in Negotiation with Ian Moyse, Ep #206

Sales Reinvented

Asking leading questions may not be permitted in a court of law, but in the negotiation process it is inherently necessary to ask leading questions. Asking the right questions is the #1 negotiation tactic that Ian Moyse emphasizes in this episode of Sales Reinvented. We also chat about his negotiation process, attributes of a successful negotiator, and other tools and tactics he utilizes. Don’t miss it! is the EMEA Sales Director at and based out of the UK. He is also an industry social influencer who is widely published on matters of Sales Leadership, Social Selling, and Personal...

info_outline
Why You Must Maintain Healthy Tension in the Negotiation Process with Melissa Madian, Ep #205 show art Why You Must Maintain Healthy Tension in the Negotiation Process with Melissa Madian, Ep #205

Sales Reinvented

Most salespeople can naturally sense tension but are wholly uncomfortable with it. But healthy tension in negotiation is a normal part of the process that salespeople should embrace. According to today’s guest—Melissa Madian—healthy tension is critical to the success of a negotiation. In this episode of Sales Reinvented she talks about how it influences a negotiation and brings value to both parties. She emphasizes understanding the value you offer and holding firm. To benefit from her years of expertise in the field, listen to this episode! Melissa Madian is the Founder and Chief...

info_outline
Why Emotional Control is Imperative in a Negotiation with Jeb Blount, Ep #204 show art Why Emotional Control is Imperative in a Negotiation with Jeb Blount, Ep #204

Sales Reinvented

Emotional control in the negotiation process is difficult to master. It’s partly because as a species we are ruled by emotion. It’s difficult to take a step back and let go of the different influences on the negotiation and focus on the facts. In this episode of Sales Reinvented, Jeb Blount shares his take on emotional control in negotiation and why it’s so important to the process. Jeb Blount is the CEO of Sales Gravy and a Sales Acceleration Specialist. He’s a best-selling author and most recently penned: . Jeb is a world-renowned keynote speaker and the host of the This episode is...

info_outline
How to Become a Successful Negotiator with Mladen Kresic, Ep #203 show art How to Become a Successful Negotiator with Mladen Kresic, Ep #203

Sales Reinvented

Do you know what it takes to be a successful negotiator? Do you possess some of the necessary skills and attributes? Do you need to brush up on your negotiation skills? In this episode of Sales Reinvented, Mladen Kresic hones in on why salespeople struggle with negotiation. He also shares some of his favorite negotiation tactics and gives some pointers for dealing with the negotiation process. Mladen is full of spectacular insight into the negotiation process. Don’t miss it! Mladen Kresic is the CEO of K&R Negotiations—aka Negotiators.com. For 30+ years Mladen has successfully...

info_outline
 
More Episodes

Keld Jensen—today’s guest on the Sales Reinvented podcast—feels that many businesses struggle with the negotiation process because they aren’t focused on a collaborative negotiation. Unfortunately, they embrace the mindset of ‘needing to win’ at all costs and focus on squashing the competition. Keld shares WHY this is the wrong mindset to embrace and what a collaborative negotiation should look like. Don’t miss it!

Keld Jensen has over 30 years of experience in negotiation. He is the founder of the SMARTnership negotiation strategy—THE most awarded collaborative negotiation strategy in the world. Keld has written and published 24 books in 36 countries. He runs a consulting and training organization that works with governments and businesses around the world to change how they engage in negotiations. Don’t miss his years of expertise—listen to this episode now!

Outline of This Episode

  • [0:52] Keld Jensen weighs in on negotiation
  • [1:37] Revenue can only be created with negotiation
  • [2:30] Salespeople can be unconsciously incompetent
  • [3:30] Keld’s collaborative negotiation process
  • [5:15] The attributes a successful negotiator espouses
  • [7:06] What a SMARTnership looks like 
  • [8:54] Top 3 negotiation doss and don’ts
  • [11:32] Keld’s unique negotiation illustration

What does a collaborative negotiation look like?

Negotiation isn’t just about reaching a mutual agreement, but about improving collaboration. Keld points out that it’s not about winning something at the cost of the counterparty. The great negotiators don’t set out to be great, they set out to make a difference for their counterpart.

Negotiation is important because revenue isn’t created without it. The second you have to interact with another organization it requires negotiation. Embracing a collaborative negotiation strategy is just as important as a market strategy or a research and development strategy.

Yet many negotiators rely on out-dated tactics that are about winning at all costs. Listen to hear how Keld seeks to change the world of negotiation. 

Negotiate how to negotiate

Keld believes that salespeople don’t necessarily hate the negotiation process, but that they’re “unconsciously incompetent”. They don’t know how to properly negotiate. But once they understand the concept and the value negotiation creates it changes their viewpoint. The 1st mistake salespeople make when negotiation is that they don’t prepare.

A step that Keld believes is imperative is to negotiate on how to negotiate with your counterpart. You can’t walk into a negotiation thinking you’re playing a game of chess when your counterpart believes they’re playing tennis. So how do you remedy that? Keld recommends having a pre-meeting with the sole purpose of learning how to negotiate together.

If you take that small piece of time to make sure you are on the same page in the negotiation process, it removes wasted time. You’re setting the rules for the negotiation to follow and it transforms the process. 

The importance of listening

Keld believes many negotiations fail because too much time is wasted arguing. Too much time is spent on claiming why your product is superior. You must eliminate argumentation and product promotion and instead spend your time listening. Listen for what’s in-between what they’re saying. 

If the prospect asks you if you can deliver a product 2 weeks early, instead of immediately giving a yes or no answer ask: What is the value to you if I can move up delivery time? You need to think about their values and interests in every part of the process. 

Keld says to consider the question: “Are you willing to take a cost if the benefit to the counterpart is bigger than the cost and if the counterpart is willing to compensate you for that cost?” It’s all about figuring out who has the higher value compared to the lower cost. 

Your negotiation strategy should lead to a SMARTnership

Many negotiators embrace “zero-sum” tactics—which is winning at the expense of your counterpart. Instead of landing on a zero-sum strategy, Keld believes you should aim for a high-level collaborative partnership instead. His collaborative negotiation strategy is all about showing a genuine interest in your counterpart and building a relationship.

Keld also points out that up to 42% of the value in a negotiation is often left on the table. To avoid that, you must establish the NegoEconomics—the difference between your value and my cost. This needs to be calculated before engaging in the negotiation process. 

A collaborative negotiation process must involve transparency, openness, and honesty. If you’re honest, you will always leave the table with better results while generating a higher level of trust with your counterpart. If you generate a high level of trust, it reduces transactional costs, and profit tends to increase. 

Keld shares his top 3 dos and don’ts as well as his favorite negotiation story in this episode of Sales Reinvented. Listen to the end to soak up all of the value he has to offer. 

Resources & People Mentioned

Connect with Keld Jensen

Connect With Paul Watts 

Subscribe to SALES REINVENTED

Audio Production and Show notes by
PODCAST FAST TRACK
https://www.podcastfasttrack.com