This is the fourth article in a series.
This continues my series of blog postings about the top negotiating traps in which you could unknowingly find yourself when dealing with a corporate buyer. Here is the fourth trap to avoid.
Negotiating Trap #4: Sticking to a formula.
Every negotiation for a large-quantity book sale is different. Each has different objectives, people and budgets, so there is no one path on which you travel toward a successful deal. There is no “one-way” to negotiate a large sale of your books, but there are things that you should and should not do. Knowing when to do which is the key.
Learn to go with your gut feelings. Listen to your intuition and you may find a different path to reach your objective. When issues seem purely economic, a little creativity can break open deadlocked deals. For example, if you find yourself at odds over the price issue. Look for a different way to find common ground. You might suggest they pay one fixed amount now and an amount later contingent on future performance.
Or, let’s say your prospect asks you to pay a penalty for late delivery. You have several options:
a) Reject it and lose the deal. Your initial reaction may be to feel that the requirement is unfair, since you have no control over potential delays. You could refuse to pay a penalty and lose the deal. In some cases, this may be the best option.
b) Accept it and seal the deal. Your preparation for the negotiation should have defined different delivery dates for different quantities ordered. If you know you could easily make the expedited date, you could accept the condition.
c) Negotiate a lower penalty, timing of delivery or amount of books. If you are not sure of the timing, you could call your printer during the meeting and confirm a delivery date. If that is not possible, seek some common ground with a smaller penalty or ask if they would accept a partial delivery if the full amount could not be sent on time.
d) Come back with a new proposal. If you know you can deliver before the agreed-upon date, catch them off guard by agreeing to a higher penalty for a late delivery, if they will give you a bonus for early delivery. Or, you could ask for a percentage of incremental revenue or some other concession on their part for the risk (they think) you are taking.
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Brian Jud is a book-marketing consultant, Executive Director of the Association of Publishers for Special Sales (APSS – www.bookapss.org) and author of How to Make Real Money Selling Books and Beyond the Bookstore. Contact Brian at brianjud@bookmarketing.com or www.premiumbookcompany.com and twitter @bookmarketing