Armstrong Capital Newsletter
July 2005
Jeffrey R. Armstrong, President, Armstrong Capital
Happy 4th of July! Is your summer heating up? If there is one way to heat up
your business it would be to refine your negotiating skills. For this first of
the summer newsletter I thought I would begin with some negotiating basics.
According to a recent ABCnews.com poll: What’s the toughest part of negotiating
a sale?
Overcoming objections, 15.8%
Getting them to sign on the bottom line, 41.1%
Getting your foot in the door, 42.9%
Most people believe that the goal of negotiation is to get all you can – to
vanquish the “opponent” as if you were at war. But negotiation isn’t war. It’s
trying to reach an agreement. And the goal should always be to make both sides
come out winners – because that way you can continue to work together smoothly.
It is interesting that the poll's toughest part of negotiating is "Getting your
foot in the door". I would say that is right on target. It is my opinion that
negotiating starts from the very first time you speak to a person. You get that
first phone call. You build a rapport. You gather the information on your
worksheet. Then before you hang up, you try to find out the motivation of the
seller. If there is no motivation or need you will never get your foot in the
door.
Try this one liner:
"Gee that's a great note! Why would you want to sell that?"
It is a non-threatening way to find out if they are really motivated or just
shopping around for the best price. That one phrase will help you determine for
yourself whether the note holder is serious and actually needs some cash now or
if they are just curious. You may or may not get an amount that the seller
needs. But, you will at least be able to determine if there is a real need.
We'll continue with negotiating and some more questions and phrases to use next
month. For this month practice getting your foot in the door with every phone
call you receive from a note holder.
Stay cool this summer! Talk to you next month!
Jeff
For more great strategies, don't
forget to check out Jeff's informative cash flow books for Scripts, Tips,
Marketing ideas and more! Click
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http://www.armstrongcapital.com/AC Products.htm
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Jeff Armstrong is president of Armstrong Capital. He is a member of the Million-Dollar Club, a Master Broker, visiting instructor for the American Cash Flow Institute, and the author of two best selling books. He can be reached by calling 818-884-2322, faxing 818-884-1723, e-mail jeff@armstrongcapital.com, or visit http://www.armstrongcapital.com and click on "Note Brokers" for questions and information about his Master Broker services, Mentorship program how Armstrong Capital can help you succeed.
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