MBACC3
SALES
“People don’t like to be sold, but they love to buy.”
— Jeffrey Gitomer,
author of The Sales Bible and
The Little Red Book of Selling
Next Best Alternative
“When others sense your willingness to walk away, your hand is strengthened… Sometimes you are better off not getting to yes.” — Robert Rubin, former U.S. secretary of the treasury
Key Ideas:
- Your Next Best Alternative is what you’ll do if you can’t find Common Ground with the other parties. Remember: the other party always has a Next Best Alternative as well.
- Understanding the other party’s Next Best Alternative is extremely helpful: you can structure the agreement to make it more attractive than the other option.
- In every negotiation, the power lies with the party that is able and willing to walk away from a bad deal. The more attractive your alternatives, the more you’re willing to walk away, and the better your deals.
Questions for Consideration:
- What’s your next best alternative to the deal you’re considering?
- What’s your next best alternative to the deal your prospects are considering?
- Is your offer better than your prospect’s next best alternative?