Never Make Negotiation Concessions

Unless you do this

It took me a few years running my own business to figure this universal truth out:

Never make a hypothetical concession unless you get something concrete in return Say you are selling a service that costs $50K. Many of your prospective clients will ask for concessions on payment terms. E.g. Would we be able to spread payments over 6 months?

If you can be flexible with respect to payment terms, your natural inclination will be to say "yes," but if you do, you are actually losing ground and gaining nothing in return.

The proper response is "If we are able to offer this, does that seal the deal?" or "At what rate would you need financing in order to make the deal feasible?"

Most people will simply say yes but get no closer to closing the deal. Don't be most people. Every concession must bring you closer to a deal or it isn't worth it.