Are your relatives holding you back?
By relatives, I don't mean your sisters, cousins and aunts. Rather, the reference is to all the terms you use and hear that others define differently and need to be clarified. When sellers leave these terms alone, they likely leave monies on the table. Here are a few examples of statements containing relatives (in italics) and some of the questions that need to be asked. 'I've been asked to hold off on spending for a while.'
Who has asked them? Why? (What's going on elsewhere in the business?)
What do you mean by 'hold off'? (Can they spend some money?)
What does 'a while' mean? (How long: end of the week/month/quarter?)
'I think I can live with that.'
Why don't they 'know'? What are they still unsure of?
When you say 'live with' it feels like you're compromising; what more
do you need?
'You're pricing is competitive; you're in the top two bids.'
By competitive you mean...? (Are prices the same? How much weight does
price actually hold?)
How do we compare on your other criteria? (Capacity, quality, delivery?)
What do we need to do to become your preferred provider? (If the other guy
currently gets their business it will be tough to win. You need to find
out if they're using you to validate and/or negotiate current pricing.)
'Let's plan to talk in two weeks and nail down the details.'
Why don't we sync calendars and schedule our next meeting now?
(What's the significance of waiting two weeks? Other stakeholders?)
I'll create an agenda, including questions and information we need to gather.
(Take initiative. Take on the task. Prove your business acumen.
Become their 'go to' provider.)
Feel like you could use some help with this topic? Join us for The Activate Series. This is so important that we thread this learning throughout each session, helping students identify and clarify relative terms so they uncover more opportunities.
Relative terms are used in every conversation, what might you be missing out on?