Negosentro| Trading strategies: the secrets to closing the best deals |Regardless of what your job is, the chances are high that you will need trading strategies to do it. In the daily life of any professional, situations in which it is necessary to negotiate will appear, whether to sell a product or service, delegate tasks between members of a team or to convince directors to release investments for a project.
Everyone, at some point, we will need to negotiate something with someone in our professional life. And if we master the techniques of trading and sales, we will have greater chances of success. Get those techniques at Broker.cex.io
In short, then, we can all learn something useful for our work by learning to negotiate well. The good news is that negotiating is not a skill for the few. Contrary to what many think or have already thought, the art of trading, as we say, can indeed be learned.
The art of trading: how to master sales and trading strategies
Want to know how to be a good negotiator? To start thinking about closing the best deals, let’s gather the top tips by topics. And we will treat trading, yes, as an art.
For this, we will follow the steps of those who understand the subject: Michael Wheeler, a professor at Harvard Business School, and an expert in trading. Michael is the author of The Art of trading, a book that serves as a true guide for those who want to sell more and better.
The Art of trading
In the book, Wheeler tells the best way to close the best deals and these are the tips that we will give you in this post. Are you ready to learn how to negotiate and close sales?
1- “First impression is what remains”
A popular saying is that the first impression is what remains. Daily, it may even prove to be wrong, but in tradings, the reality is true to the wisdom of the people.
First impressions in a deal will define the atmosphere of the deal and your opponent’s perception. So you must use these trading and sales techniques:
Observe your language and express yourself well;
Speak clearly to highlight the common interests of the two parties;
Take care of your posture, physically speaking; and
Take care of your emotional posture, maintaining a confident tone, expressing yourself concisely, and offering real value to the other side of the trading.
2- Be firm but also flexible
The first law for those who will master trading strategies is planning. Know exactly what you are going to propose, to whom you are going to propose, what you can and cannot give up. Know when to say yes and no and be prepared for objections. Having a plan is essential, but being flexible is also important.
You will arrive at the trading with a goal defined by a plan but will be able to adapt if the conversation deviates from that initial goal. If a compromise cannot be reached, there is no trading.
3- Know how to improvise like no one else
Anyone who wants to negotiate and close sales need to know when to change focus and be flexible. This is one of the best trading and sales strategies. This is essential for a good negotiator, as well as having the ability to improvise. Again, planning how to take the trading is paramount, but improvising will save you from trouble.
If a future customer wants a discount on their first purchase and you can’t guarantee that, take them to a new possibility. Agree to a lower starting price or some extra advantage, as long as you are guaranteed a new sale shortly, for example.
When your plan is unlikely to be successful, you have the opportunity to consider options that you have not considered before. Enjoy them well!
4- Experience helps to close better deals
As we have already said, trading strategies are something that you learn, and that improves over time. As your experience grows with each trading in which you participate, it is possible to complement your skills with activities such as reading books on trading, participating in workshops, and watching other people negotiating whenever you can.
5- The ability to predict as a great differential
As in chess, success in tradings requires the ability to predict movements. Your ability to interpret the offers on the other side, or the possible tactical moves, will help you come out as the winner.
In a trading, this means considering the options that have the greatest possible benefits and the greatest chances of an agreement, based on what you already know works.
6- Prepare the mind and the emotional too
Remember: in every trading, you are dealing with people. People who think, act, create expectations, and suffer the same way you do. Therefore, it is not possible to leave humanity aside and it is necessary to work on the mind and the emotional.
Keep calm and do your best to seek a balance between your mind and goals and those of those on the other side.
There is no way to be a good negotiator without preparing for the clash of interests. The good negotiator must be mentally strong at all times. One of the best trading strategies is to ensure that you are in the right emotional space and to identify the circumstances that trigger negative emotions and, consequently, avoid all of them.
7- The art of trading that works: closing the deal
All your hard work and trading and sales techniques are meaningless if you don’t know how to strike a deal. Now, at the end of the process, it’s time to convince the other side of the trading to say yes to you in the future.
To facilitate this last step, you must be always honest and polite. It is possible to enhance your success by pointing out not only the potential benefits, such as gaining new customers but also the negative consequences of not investing, such as the possibility of losing revenue to more innovative competitors.
And don’t forget to keep it simple. Offer only the best and clearest solutions relevant to that other person. Do not offer what you cannot fulfill, of course, and also do not waste time on too many options that can confuse your future customer.
Value the time of everyone involved in the trading and respect them, from start to finish. With these tips, you will certainly be much closer to closing the best deals and mastering the art of trading.