15% we can finalize the order otherwise we have to look for somebody else but what if I tell you you won’t have to give a discount in this situation or any other situation as well how let’s see I am baker for past 10 years I have helped dozens of engineering and manufacturing companies to handle price negotiation without compromising their markets so you can use them for your business First date shift the conversation from price to value price discussion price value. When a client asks for 15% discount he knows how to

play his game but you can play a different game. Discuss how your solution can save them money, effort or time. Jess you can save up to 50 lakhs in operations annually. You can also highlight being a trusted partner with a good track record of on-time delivery and seamless after sales service. Believe me, good prospects value that more than anything. Secondly, never try to justify your price. Always enhance your value proposition. This works because they want a little something extra than what you offer. You

give them that, but not at the cost of your original price. One of my clients added AMC visits instead of reducing prices, making their offer more attractive. Lastly, and most importantly, learn to walk away confidently. If the prospects truly values your offering, then they will definitely come back to you. And if they don’t know that, they would have been a headache client. do come back. Must do. But you can also try to go a little extra mile like some of our successful clients. Here is what they

do. They document ROI from previous projects to share with prospects while negotiating. They create value added packages instead of discounts. See what the customer want and value. They also work on delivering on time which maintains a good track record and credibility in the market. If you want to learn more about this, I have a video on achieving on-time delivery. You will find it somewhere in the comments. I hope this helps you.

 

Milind Bibikar

Video By:

Milind Bibikar

Milind Bibikar is into Manufacturing Business Coaching and exclusively works with business owners in the Engineering, Projects, and Manufacturing field to Build a 100 Crore Projects Business. He is an engineer and a hands-on, 1st generation entrepreneur with over 28 years of experience in starting, scaling, and successfully exiting businesses in the industrial water and wastewater treatment sector.

Through his own experiences in managing turn-key projects, engineering, procurement, manufacturing, site installation, and commissioning, Milind has developed a deep understanding of similar businesses. He creates customized manufacturing business courses tailored to your growth needs and has coached numerous manufacturing businesses to scale up faster while ensuring sustained growth.

loader