Business Growth, Lara Morgan

Negotiation is the fun part of sales – fear not

 November 29, 2013

By  Lara Morgan

Not only does Britain need to learn to have sales in the role of being salespeople, but negotiating as a part of the sales process is surely fundamental to the level of success one may or may not have in sales.  Negotiation can be fun when working in sales. Step one in the negotiating game is knowing your profit boundaries and your deal strategy.

Too many times I am frustrated by companies with a pathetic grasp of the genuine cost of goods of the product and service they provide. Time and time again people do deals at a price point that does not REALLY cover the contribution to the overheads, steadily losing way and then going out of business. Sadly most companies drive themselves out of business because they do not know their breakeven – do you?

By product, by range, by service? Are you relentless in your approach to how much space you give yourself to put together a win-win for the customer and for yourselves?

Collaboration in deal-making, partnerships not adversaries, propositions that add genuine value, authentic long-lasting useful services and supply, this is the way how to build a profitable company. Too many busy fools give too much from the first price offer to deal close, rarely properly accounting for time and effort in the deal. I read recently YouGov research shows UK PLC is losing £9 million per hour from poor negotiating – £17 billion per year. Holy cow? Have you professionally trained in negotiating?

Have you bought a book just to start the process and to boost your competency? Please, please act?

Lara Morgan is the straight-talking, no-nonsense entrepreneur who is best known for growing Pacific Direct from start-up through to successful exit 23years later. Her vast experience includes first-hand knowledge of manufacturing, licensing, export and global sales as well as leadership and developing entrepreneurial talent.

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Lara Morgan

Lara Morgan is best known for growing Pacific Direct, from start-up to successful exit, 23 years later. She now invests her time in fast-growth companies and represents UKTI as an Export Ambassador, having previously exported to 110 countries. Her vast experience and business knowledge include specialisms in licensing luxury brands, manufacturing toiletries and selling to the hospitality environment through complex global distribution chains. She's also an expert in leadership and developing talent having learnt through her own experiences of employing 500 employees in an open fast growth sales culture.

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