Educate While You Negotiate with Jeanette Nyden #85

In this episode we meet Jeanette Nyden, expert sales contract negotiator and the author of the book Getting To We. Jeanette is a former attorney who has spent many years working with procurement organizations and she is keen at ensuring all the right stakeholders are engaged when negotiating a contract.

Procurement Challenges

Large companies have procurement organizations. These organizations are solely focused on getting the best price. They may not fully understand the value you bring. It is the responsibility of the seller to ensure all decision makers and stakeholders are involved during negotiations.

Total Cost of Ownership

The total cost of ownership is based on taking into account the cost of the asset to be purchased plus the cost of installing and removing the existing asset.

Things such as:

setup costs
training costs
removing old installation
old installation’s ongoing costs

The best way to quantify this value is to build a spreadsheet. This spreadsheet will be used to prove your value. In a spreadsheet you can quantify the costs and the risks with both the existing installation and your future solution. This process will turn into a value conversation, so compelling it will bring decision makers into the conversation.

Three things you need to understand as a seller:

actual costs
gross profits
net margins (net profit)

With this data you can clearly explain the value of decreased risk, decreased costs, increased opportunities, and increased benefits. By taking a life-cycle point of view you can be successful.

Do the math!

Links To Jeanette Nyden

LinkedIn Page

Jeanette’s website JNyden.com

Twitter @JeanetteNyden

Her book Getting To We Negotiating Agreements for Highly Collaborative Relationships

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