Black Sales Journal

On the 9/20/2012 edition of Black Sales Journal we discussed “knowing the landscape” as you prepare to negotiate your salary for a new job (that post is at the bottom of this page).  The objective was to have all of the homework done so that a target can be achieved, and there is likelihood of success.

In this edition of Black Sales Journal, we will spend a little time dealing with the actual negotiations themselves.  This includes receiving and responding to an offer(s).  This is far from a science, and is probably best classified as an art.  The art of how to get what you need in a dignified manner, while maintaining the deportment necessary to keep respect.

Remember, if you are sales professional, it is not unlikely that your prospective employer expects you to do some negotiation.  They won’t be offended by it, yet it should be done correctly.

The Golden Rule – The One With the Most Options has the Most Power!

Power is important in negotiations.  It does not need to be displayed; yet it defines the activities that either side employs.  Knowledge is important as well.  That is why we spent time last week on being firmly aware of “the landscape”.  You would feel totally different about your current or past salary numbers if you knew what all of your colleagues were being paid.  You might be satisfied, happy, or dismayed, but probably would feel totally different.

Options are important.  When I mention options, I speak of viable alternatives to an action.  If you have five job offers, and all are in the field you want and have robust salary offers, you have an amazing number of options. No matter what you ask for from any one of these potential employers, you can be steadfast in getting a good deal.  You have five viable options, and you have “the juice” (power).

However, if your prospective employer has 5 candidates, and although they are not identical (of course they could not be), they each are strong and would make solid sales professionals.  The prospective employer, in this case, has the power.  They have options and will use their “superior” position to their advantage.

There is nothing nefarious about any of this; it is the use of options resulting in the position of power in a negotiating relationship.

Power for the Black Sales Professional

This is a sensitive subject, yet relevant.  As a Black sales professional can you transform what has historically been to a disadvantage to an advantage?  Can you take advantage of the relatively low number of proven Black sales professionals in your quest for this next job?  The answer is solid “maybe.”

Most larger operations are looking for accomplished Black sales professionals.  The numbers are just not that large, and accomplished Black Sales professionals are still a small subset of all accomplished sales professionals.  You won’t know enough about the organization, or the candidates you compete against to be able to use any gambits to enhance your positioning.  I suggest that if you are the best candidate in the competition, and negotiate well, then you have done all you can do to get the job.

Remember, as I have mentioned in Black Sales Journal on several instances, you are being made an offer by an individual, not a corporation.  Realize the importance of that statement.  Someone (the hiring manager) will make the decision, with the guidance of Human Resources and company guidelines as to what the range is.  You are trying to get the most out of that salary range and from the negotiating manager.

Useful Techniques

These are simple, and can be remembered.  Always try to negotiate salary by itself, apart from all other work benefits.  It may not be possible, yet it is advisable.   The natural progression of the process is as follows:

Step 1. Evaluate the offer

Step 2. Give a suitable response (note below)

Step 3. Deliver a counter offer or receive a counter offer

Step 4. Make a decision

Here are some things that remember.

• Always remember what you stated as your salary expectation in your application process.  It can come back to haunt you.
• Know the landscape before the application process.  Use the tools and your intuition before giving a salary expectation.
• Give your salary expectation, as well as your discussions in the form of a range and use the term “…depending on the accompanying conditions and benefits.”  This allows you some flexibility.  Example: “I would expect between $60,000 and $75,000 depending on the nature of the bonus plan.”  The bonus plan represents a variable, and you don’t know enough about it, for the most part to be concrete.  This gives you the flexibility.
• Know the number you want!  Use your tools and experience to have that number.  Have a solid idea, but stay flexible.
• When the offer is made, always advise you will get back to them and mull it over.  This is an important decision.

As you evaluate the offer, and it comes up well short of your number, your response should be respectfully done.  I suggest: “I was hoping for a stronger salary number.”  Or you could say, “This is a wonderful opportunity, yet the salary number is disappointing.”  Now, here is where having options is important.  But, if you have no options, you should still say it.  If they don’t give up any of their negotiating room, you can still say, “I will take the job!”  Their answer would likely be either:

• We will take a look at it.
• This is the best we can do!
• What are you thinking about? Be realistic in your expectation.

One way or another, their objective will be to keep salary parity with other sales professionals.  If they started low, estimating that you will “come back”, you will get their final offer.  If they won’t negotiate, and it is a good offer, then you should accept.

Negotiating the “Other” Things

These items are easier, and more palpable.  Know what you want and ask early.  Get them to thinking about your needs.  If you will lose a car from you other job, they should know coming in that you are expecting a company vehicle, or an allowance.  Human Resources can help you with some of these items early on.  Ask them about the transportation and the benefit issues, and ask the hiring manager about other important work issues.

Remember, if you don’t have agreement before you say “yes”, you will have little chance of getting it in the end.

Also remember, your salary is not as important as your total compensation package.  Believe in yourself!

We welcome your comments.

Many of us have been there before, and thus the need for this post.  A tough interim or mid-term review is sobering, and if you are in sales it is easy to have a couple of tough quarters.  The importance of this is apparent when it gets to writing.  Use this post, to prepare for this important upcoming event, or to respond to a difficult mid term that has already happened.

Are you currently on a performance program? Remember, you must be on top of your game, and working all of the time.  You might refer to BSJ 4/30/2011, Are You on A Sales Performance Program? Can You Beat it?

Remember, this is the mid-term, and there is some time left to get goals, but you must do something different, or the results will be the same. This post was from last July but applies now as much as any interm period.

Never give up.

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If you are with a fairly large organization, you have probably recently experienced an interim or mid-term review.  As trite as it sounds, you knew it was coming; yet it is one of the least enjoyable activities for a sales professional.  Having someone tell you where you stand in comparison to a goal that you had no choice but  agree to.

Historically, that is the nature of sales.  Review Black Sales Journal – 1/10 Preparing for the Performance Appraisal that discusses the performance appraisal process and the sales professional.  These points are applicable here, yet I am highlighting “what is after the interim appraisal” as a result of the urgency getting on track, meeting goals, and having a successful last 5 months.

Do Something Different!

This is not an issue if you had a great interim review as you are on track, although you need to remain there.  The problem comes when the interim or mid-term was problematic, exposing what even you have to agree are sub-par sales results and as a result low attainment.

When you are in that mode you have reasons to despair and frankly, I can tell you I have been there. It is a place that you don’t want to be as you are up against a clock (actually the calendar) and you know something has got to change, or you won’t be there down the road.

The real deal is that you might not be doing anything wrong, yet you might not be doing enough right.  Something new has to be tried, and now is the time to do it.  I will propose a few things that may help; yet you cannot stop the normal sales process while you execute them.

Those items are as follows:

• You must increase your prospecting effectiveness.  It is a proper activity for even those who are having success.  Please to refer to Black Sales Journal 2/10, Prospecting Tips For Black Sales Professionals.  Making your prospecting activities most effective will include changing, yet it is still an activity that is basically short-term that will yield dividends.
• Reckon with the numbers game that prospecting represents.  There is no doubt that there is a formula that successful prospecting continually requires.  See this in Black Sales Journal 2/28, How Many Prospects Do You Really Need? You must know your success formula, and make it happen.  The formula is different based on your own effectiveness.  I might be able to make my numbers with fewer prospects, based on my own approach and characteristics.
• Continue to work hard.  There is no magic in this statement.  You can increase your effectiveness and recognize your prospecting formula and the numbers that make it work; yet you still can do more.  Here is where you put it into high gear.

Here are some activities that you can do that you might not be doing right now:

• Utilize networking as a prospect source
• Use seminars as a prospecting tool

Networking can be a very effective prospecting source.  It does take work and some planning, yet proper networking will change the prospect base you are exposed to as well as create face-to-face opportunities for prospecting intimacy.  I went deep in this topic in Black Sales Journal 2/21, Networking for the Black Sales Professional.  Using networking effectively is possible in the short term and can be done while the normal prospecting activities continue.

Seminars can be extremely effective.  Done correctly, this activity can be more effective that networking, yet require more preparation, and potentially some resources.  Black Sales Journal 3/24, Finding Prospects Though A Seminar gets deep into this activity that I am partial to.  Now to make this activity work, you do need to have a group that has some has some commonality in buying habits, product needs, industry type, or other characteristics just as the 3/24 post describes.  Once you pull a group together like this, and deliver a message a message with value, you will potentially have followers, prospects, and some customers that you may never have been exposed to.  It would help to be an expert, or regarded as one, yet not necessary.  If you are not an expert, you should engage one to speak to your group, and as is described in the post, keep meticulous records and do not let anyone in, or out, without their contact information, especially their email.

In Summary

These are tactical activities.  They do not replace normal prospecting but can supplement that activity.  You cannot make it in sales without prospecting and need to face that important issue if you have problems there.

Prospecting is the price of admission to being successful sales professional.  Prospecting Tips For Black Sales Professionals were designed specifically for up and coming Black sales professionals in recognition that if you are going to be in this profession, you will need them to smooth out the difficulties of sourcing prospects.

Be effective and prosper.

We welcome your comments.