Business Negotiation Explained: A Step-by-Step Guide

Do you feel like your interlocutors are happy with your offer? If they seem genuinely content with your proposal, you can ask the sales closing questions. Ask questions such as “What shall we do next?” or “Do you have any other concern?” to prompt the other party to make a choice or settle on the current offer.

Do not treat this step as a mere formality: listen carefully for any remaining questions and make sure all doubts have been lifted. Ensuring the negotiations have truly come to an end and that everyone sees the deal as beneficial will ensure the negotiated agreement will last and serve as a robust base for its execution.

If you feel that the closing phase is dragging on for too long, you can instil a sense of urgency by stressing the fact that this is a temporary offer or that your solution should be adopted quickly. Only resort to this technique if you are certain your solution will satisfy your partners or client. Otherwise, this will result in a rushed contract.

This step should allow you to build a trusting relationship: taking sufficient time will plant the seeds of customer loyalty or give rise to a long-term collaboration well after you’ve closed the deal.