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Firms should learn the 'right lessons' from failed sales negotiations

Negotiators need to modify their approach to talks to improve their chance of success

28 October 2010

Businesses need to learn the right lessons from failed sales negotiations, according to an expert.

Every negotiator will be involved in collapsed talks during their career and it is important to identify the reasons for the failure in order to avoid a repeat scenario.

However, Dr Gary Goodman, a US sales negotiation consultant, has advised companies to carefully consider how they will modify their future approach as all negotiations are unique.

He wrote on "If you've been bruised in battle, it's only normal to try to take lessons from our losses. But when negotiating, remember that you aren't there to rectify what you didn't do, or what you did wrong in the past.

"You need to be fully present, and fight the battle in front of you."

Dr Goodman used the example of contacting potential buyers a day earlier than they requested after he lost out on a deal to a competitor who was quick to secure the paperwork.

Although this eager approach may ensure they do not carry out business with a rival, it could also be off-putting to a client and should not be repeated, he added. 

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