Episode 130: Jay Heinrichs

[01.03] Jay defines Negotiation – as the art of making neutral decisions where ideally everyone feels like they won and where a long term relationship results from that.

[01.26] Jay explains how negotiation is important for business – business depends on deals, but also negotiations within teams getting people to get along. Every aspect of business depends on negotiations not just sales.

[01.54] Why don’t some salespeople don’t like to negotiate and what can we do to change this – Jay feels that salespeople want to be liked by their clients and customers and hate confrontation, but negotiation doesn’t have to be confrontation by using the tools of rhetoric, the art of persuasion makes all the difference.

[02.47] How do you plan and execute a high stakes negotiation – Jay shares that he shows clients how to persuade. The main point is don’t focus on you, the preparation and the persuasion have to focus on what the other side wants and needs, that’s the narrative, beyond that you start to talk about money, which is another type of negotiation.

[03.52] What are the attributes of a good sales negotiator – Jay feels that one attribute we all need more of is sympathy, being able to get into the head of the other side. Some of the best negotiators have been introverts, they talk less, observe more, they look into the others heads and they put more energy into understanding the other side.

[04.40] Are there any negotiation tools, tactics or strategies to help negotiate – Jay shares The Lure and Ramp from Aristotle – making the outcome seem irresistible, then come up with the ramp by taking a small step asking them to watch a video, or look at a link, then add another step to ramp up to the eventual decision.

[11.56] Jay shares his top three negotiation Do’s and Don’ts – do understand your audience and try to love them, do present yourself as a problem solver and third do is to simplify, simplify and simplify – the simpler the message the more they will understand it. Don’t make it all about you – it’s about the other side, their needs, beliefs and expectations. Don’t treat a far out negotiating point as a threat – see it as information. And lastly don’t look too eager – what you should be eager for is the benefit of the other side.

[13.34] Jay shares his favourite negotiation story – where he once walked out on a multi million dollar negotiation with a fortune five hundred company over a content deal which would harm the company’s employees rather than helping them, after feeling like he had lost the deal Jay walked away with a more expanded deal.