‘Customer is always right’ myth debunked

Businesses that operate on the premise that the customer is always right typically end up losing a lot of money. Giving away products and/or making unsustainable commitments is not a healthy business practice. In addition, both you and your customer end up losing, especially if you go out of business. So, when working with your customer, work for a win-win. If this isn’t possible, then no matter how desperate you are for business, walk away, as fast as possible

Tips for negotiating a win-win

Be willing and able to walk away

This is one of the best mindsets to have when entering a negotiation, and will act as a stop guard to keep you from making a commitment that you can’t keep or an arrangement that won’t be profitable in the long run.

Understand what your customer is trying to do

During your sales cycle, your customer might lose sight of what they are trying to achieve. It’s incumbent on you to understand (and help your customer stay focused on) what they are trying to achieve with a particular purchase

Negotiate with someone that can make a decision

Always ensure that your negotiations are done with someone who has the authority to make decisions. One way to find out is to politely ask them if there are other people, other than themselves, who help in making decisions. Getting this information early on will save you a lot of time and resources. In summary, the customer is not always right. With this in mind, you should always work for a win-win situation when negotiating with customers, and be willing to walk away if you can’t. Be well, and grow!