E55: 3 Negotiation Tactics Sales Leaders Overlook That Could Be Hurting Their Trade Sales Process: Sales, Leadership, Trade

In this week's episode of the Stronger Sales Team podcast, Ben sits down with negotiation virtuoso Nicole Davidson to uncover the intricacies of managing and leading successful negotiations. Providing a sneak-peek into Nicole's rich professional journey and the profound impact of negotiation in sales, this discussion is a goldmine for Sales Leaders aspiring to elevate their teams' performance.Nicole delves into the vital components that underpin effective negotiation strategies. She emphasises the significance of a mindset anchored in curiosity, the art of skilful questioning, and the depth of attentive listening. Furthermore, Nicole sheds light on the importance of thorough preparation, encompassing both the tangible facts and the negotiation process. The conversation takes a psychological turn as Nicole addresses common cognitive biases that can derail negotiations and the need for empathising with the counterpart’s perspective.About the Guest:Nicole Davidson is a renowned expert in the field of negotiation, combining her legal background with practical business acumen. As an accredited commercial mediator and negotiation trainer, she has consulted across Australia and internationally in regions like Europe and the Middle East. Her extensive experience spans the legal, insolvency, and banking sectors, where she has honed her negotiation skills since 2016. Beyond her professional capabilities, Nicole holds notable accolades such as the Resolution Institute's award for achievement as an Emerging Practitioner in 2021, Mediator of the Year at the Australian Law Awards in 2022, and recognition as one of the Top 50 Small Business Leaders by Inside Small Business magazine.Website: https://www.nicoledavidsonnegotiation.com.au/Key Takeaways:A successful negotiator is driven by curiosity, excels in asking the right questions, and demonstrates superior listening skills.Effective negotiation preparation includes understanding the precise content under discussion and the strategic elements of the process.Cognitive biases, such as automatic discounting of opposing propositions, can significantly influence the outcome of negotiations.Employing techniques like encouraging the counterparts to present proposals can lead to greater ownership and acceptance of ideas.Crafting solutions collaboratively through strategic questioning enhances the likelihood of a favourable and equitable negotiation result.Time Stamps: 0:00 Intro1:03 Guest Introduction2:47 Nicole Davidson Mediation and Negotiation5:30 Good Negotiation8:38 How to Ask Good Questions13:11 Preparation17:09 The Psychology of Negotiation21:42 Guest’s Socials22:22 OutroRate, Review, & FollowIf you’re liking what you’re hearing, make sure you ‘follow’ the show wherever you listen to your podcasts…so you never miss an episode!I’d also love to hear what you think, so drop us a review after you close that next deal…tell me what you’re liking, and what you want more of so I can look to cover it in a future episode.