In life we tend to drag our past into our future. For example, I know if I forget to take the garbage out, my wife will remind me to – sometimes at the most inopportune moments – such as just as I’m getting into bed. This is sometimes called a “learning event”.
Unfortunately these “learning events” often teach us some real bad habits. In the case of the garbage, I’m more inclined to take it out early in order to avoid one of my wife’s “learning events”. Subsequently, I forget to empty various baskets around the house in the rush to just get it over with – making things worse.
Ask yourself; when is a seller most likely to make a concession? The answer, as confirmed by research, is “at the deadline”.
So, what are the concessions designed to do? Close the deal.
Here’s where our experience actually gets in the way. Unfortunately, over time and throughout their careers, sellers witness a behavior that seems to work; if they give the buyer something (quicker delivery, longer payment terms, a discount …) they get “the order”.
This often does indeed work. In effect, it’s a “learning event” – a poor one.
What sellers fail to recognize is that they lose an opportunity to make a bigger and perhaps better deal, by failing to negotiate. Sellers need to learn to say “IF“, perhaps gaining more while still closing the deal promptly. I’ll do something for you, IF you do something for me.
We’ve all heard the definition of insanity defined as “doing the same thing over and over and expecting different results”. So be cautious of your experiences in life. Sometimes they provide poor “learning events”. Don’t drag your past into your future. Learn to say “IF”.