Why is price the elephant in the room?

Through the years I have worked with many sales people who had the drive and desire to succeed. They weren’t afraid of the phone and handled objections well. What they feared was the dreaded “What is your price” question. Don’t let this take the wind out of your sails. This should be treated as a buy signal rather than a huge obstacle. This is where you can negotiate a fair price for both parties.

I like to look at it as an opportunity to talk about what makes your product or service different than your competitor. Don’t be afraid to start at your higher end to give yourself room to come down as necessary. This being said, set a floor for your pricing as well. There are times you are going to have to walk away. As my father always said, “Bad business in not a substitute for no business.”

You are a sales professional so make sure you present yourself as an equal and not a subordinate. It is imperative that you know what your differentiators are. Know why your product or service provides value to the prospect. Think of it this way, if they were happy with their current vendor than why are they meeting with you?

So always be prepared for this question in advance for this question and be confident when you start this discussion. Once they ask, “What is your Price?” it is game on!