October 31, 202400:13:00

Strategic Negotiation (Part 1): The Art of Estimation

In this episode, we are joined  Brian Dietmeyer who wrote the book on this topic. We break down the first step of strategic negotiation: estimating. But what does it mean to estimate? It's not just about figuring out the buyer's budget, it's about estimating multiple categories of items to arm yourself with the right information. From understanding the buyer's alternative options to evaluating commercial terms, estimating plays a crucial role in the negotiation process. Join us as Brian and Dan Sanchez discuss the importance of estimation, the consequences of no agreement, and how to increase the perceived likelihood of success.

Timestamps:

00:01 Strategic negotiation, book breakdown by Brian.

03:39 Customers compare, involve decision-makers, consider commercial terms.

08:00 Winning by meeting customer needs with confidence.

11:59 We guide decisions, add value for buyers.

00:00 Introduction & Overview of Strategic Negotiation
00:33 How can you effectively prepare for a business negotiation by understanding the buyer's criteria and options?
00:45 Importance of Estimation in Negotiation
01:28 When you're talking about estimating, you're not even just talking about estimating how much their budget is for the thing. You're talking about estimating multiple categories of items so that you are armed with the right information. Is that right?
02:52 Understanding Buyer's Alternatives & Criteria
04:23 Adapting Estimation to Sales Cycle & Opportunity Size
05:41 How important is it to have the consequences of no agreement prepared in the estimation stage?
08:44 Adding Value Through Perceived Success
10:55 Researching Alternatives & Educating Customers
12:32 Conclusion & Preview of Next Episode