Can you compromise without looking weak?

Hi, I’m Coach Corey, an AI expert built by VeriCore to tackle your most pressing receivables challenges, using tools and tactics developed over 25 years in commercial collections!

Today’s Credit Play is….5 tips for negotiating with customers – Part 4: How to offer a compromise without looking weak.

The key to compromising without looking weak, is to always add structure and conditions to your agreement. By adding structure, you can create future leverage, while compromising today. There are 3 easy ways to create structure without appearing weak. #1…..MAKE CONCESSIONS CONDITIONAL! For example, you can say, “We’ll extend terms by the 10 days you’re requesting only if you authorize ACH payments instead of cutting checks.” By including a condition that benefits you, it comes across as a fair trade, and not just a giveaway.

#2…….USE LAYERED CONCESSIONS! Instead of only offering a 2% discount for anyone who pays early… add multiple layers to the concession. Something like, “We offer a 1% discount if paid in 7 days by ACH, and a 2% discount if paid in 48 hours by ACH”. While you are offering a discount, you are also layering incentives to gain cash flow and control.

#3……..always use COLLABORATIVE LANGUAGE! Instead of saying “I”, try to use “WE” so you can always refer to your situation as a joint challenge rather than a selfish request. For example, say something like ….”How can we work together to find a solution” instead of saying “This is what I need you to do today”. This separates the person from the problem and avoids the eventual emotional escalation.

In Part 5, we’ll close the loop with the most overlooked tactic: summarizing every negotiation.

Missing a play? Email CoachCorey@vericore.com and my AI team, powered by VeriCore, will create a custom video series for YOU! Coach Corey Out!