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The key to negotiating is letting people talk themselves, not talking people into it. Have you ever been on holidays to the tourist spots in Spain? Any shops you walk into you find yourself negotiating with the sales assistant straight away. Sales training facilitators will point out that we have all negotiated at some point in our time whether it is with the children to go bed or with the bar man to give you an extra shot.

Many of us find it difficult to confront a negotiation as we are people pleasers. Yet this does not mean that we can not carry through the negotiation with confidence as we possess the tools and tactics that are used on sales training courses to get us to achieving our goals. Some of the tactics used can include;

1. The wince. “AAAHHH, what in the world?!” this overreaction is carried out when your counterpart gets to their point and states their position. Sales training courses will tell you that if you are not prepared for this you will give in.
2. Silence is golden. Use silence if you do not like what they say or if you are waiting for a response. You need to ride out the uncomfortable silence to accomplish your objectives. The chances are that the counterpart will feel compelled to give in.
3. Trial balloons. These are questions that sales trainers will advise that you use to test the waters.
4. The Red Herring. When someone weasels their way out of the principle point on to a smaller matter. They then get tough on the smaller less important matter. This leads you to feel bound into negotiating down even further.

Sales training courses will tell you that half of your work is actually in trying to define the problem. For this reason throughout a negotiation it is necessary for all participants to discuss their problems and what they are expecting to achieve.

Is being on guard a good tactic to use while negotiating? A sales training course will explain to you that it is not. People that loosen their guard are more approachable and therefore more likely to achieve their goals as they look for the similarities they have with the component.

Through sales training courses you can gain great knowledge and experience from others mistakes and contributions. There are hush-hush tips however that can guide you into not making the same mistakes. These mistakes may include;

o Telling your self it is the end of the world if the deal does not follow through. Put simply it is not.
o Believing your counterpart has all the negotiating power. Keep in mind that we are all equal. If you want the truth and a fair outcome go in to the negotiation with a clean slate and no prejudgements.
o They fail to see that there is more than just one option.
o An approach that it is me against my opponent.
o Accept all positions as final. This is not fact take markets for example, they say final yet if you continue persuasively the majority will lower their price again

Sales skill trainers will always stress to remember that when negotiating you are trying to help each other out rather than working against each other.

It is never easy raising money but it just got a whole lot tougher. Are there tried and trusted techniques to turn investors on? Yes there are. The secret sauce ingredients include: rigorous preparation, a great compelling story, delivered with passion by a credible management team.

Let’s break it down into three parts, preparation, content, and delivery.

Preparation

First, gather together answers to questions that will be asked by the business angel, venture capitalist or private equity player. What is the status of your industry in terms of trends and statistics? The key is to sound authoritative. Demonstrate that your team understands this market without being verbose. The value proposition – does it connect with customers? Why now? What makes the management team credible? Which analysts validate your strategy? How will you make money? Be clear on the itch you are scratching! What business am I in? Be clear why you are remarkable. Is it a very competitive space and if so why will you succeed? Little competition – does anyone want to spend money on your solution? Get on top of the detail. Memorize key facts. Be ready to explain the volume and yield drivers behind you historical numbers. Show your mastery of the economics of your business. Build a business plan that summarizes the policies you need to run the business. Ensure all key policies are articulated in a detailed way. A great business plan allows you to produce a great one page executive summary. Finally do your due diligence on potential funders, including studying their web site to discover their portfolio, previous exits, investment criteria, and bio of partners.

Content

What do I cover in my business plan and my executive summary? Write an enjoyable compelling story that covers: how much money you need, how you will spend it, how much your business is worth, why customers love you, how you will make money, why is it scalable, what makes your leadership team credible, what is the competitive landscape, and explain barriers to entry and the risks of what could go wrong. Prepare many what-if scenarios. Use the one page executive summary to get interviews and then use a few power points as props to deliver your story. Talk with confidence knowing your speech is backed up by a rigorous business plan.

Delivery

The executive summary has been sent, hit the bull’s-eye and has resulted in a face to face meeting. How do you handle a face to face meeting? Words of caution! First 60 seconds are unreasonably important. Lead with your strongest, most remarkable statement. Remember eye contact is vital so you don’t want an audience getting lost in the deep and meaningful graphs instead of looking at you. Length of presentation? Maximum 20 minutes with big changes of pace every 5 minutes. Talk slowly. Use a maximum of five power points. Involve key members of your team to make key points. Finish with a very strong 60 seconds bringing together the proposition and clear next steps.