Talking Price

By Chris Lytle

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When it's time to talk price, salespeople need to talk price like an accountant talks about money.

Quick story: One day Steve Schmidt, our CPA, told Sarah and me that we owed an additional $11,000 in income taxes. While I wasn't thrilled with the news, I noticed that he didn't stammer, clear his throat, apologize or look at the floor when he delivered the news.

Here's good advice for salespeople from How to Sell at Margins Higher Than Your Competitors by Bill Brooks and Lawrence L. Steinmetz, Ph.D.

Here's their take on talking price.

There is an acid test you can use to determine if you can credibly handle price. You must be able to handle price like you handle the time of day:

Q: What time is it?
A: It is 3:15
Q: What is your price on this?
A: The price is $200.

How would you do? Better yet, how do you actually feel about this? Can you verbalize price as comfortably as you can tell someone what time it is? Try it out loud. Now.

Here's another keeper: "NEVER USE ADVERBS AND ADJECTIVES WHEN YOU PRESENT OR DISCUSS PRICE. Adverbs and adjectives are a flag to the prospect that our price is negotiable."

Their reasoning is that if you put "usual," "list," "basic" or even "lowest" price in front of the number, you are inviting the customer to beat you up on price.

If you need additional training on this, take your accountant to lunch and talk money for an hour.

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