Negotiations between suppliers and customers require a methodical approach in order to extract the best value from your negotiation. The three key stages are simple: What happens before a negotiation What happens during a negotiation What happens after a negotiation To “wing it” or negotiate “on the fly” is likely to lead to missed opportunities and unexpected demands from the other party to which concessions can rapidly follow.

Getting caught out at the critical decision stage… Last month I was reflecting on my first National Account Manager role in conversation with a client. It was my first national customer, and they represented 30% of employers’ revenue. I wanted to prove myself quickly, and a major launch of 12 new products into my customer was my way to do it. My objective was simple, get my customer to accept the entire range! I prepared, I rehearsed my sales presentation, and I was ready. My proposition was realistic, and it received a resounding “Yes”! My boss was going to be very happy.

In many courtrooms, objections are either sustained or overruled by a judge. But in a negotiation, the customer plays the judge (and the opposing lawyer, too). Their decision is final, so it’s your job to ensure they make the right call.

As objections are part of most commercial discussions, both in a selling and negotiation meeting so the key is to be prepared. How? By anticipating and planning for them beforehand.