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Getting the Check

They've committed to signing your agreement, but the deal isn't done until the price is finalized and you have the check in hand. Don't leave the room without the check or, at the very least, a letter of intent.

Video Transcript

" So guys, you know, there's always those people that have to have a better price, you can sell it for $1, they're going to want to talk you down to 75 cents. Now, it's very important that you hold true to your price. Okay? You never have to just give it up. But at the same time, if it's going to close a deal to lower the price, there's nothing wrong with doing it as long as we don't fall out of margin. Okay. But we need to make sure we follow these rules. First off, it's very important that you ask them if they've chosen you, and they're ready to move forward, if you can work on the price. Okay, the last thing you want is to go through negotiations. And then they still say, well, we're still shopping around, let me think about it. Okay. The next thing, if you just lower the price, you have now set precedents that every time you try to sell them something that your price is negotiable. So it's very important that you set this up the correct way. And it can be as simple as this. So Mr. prospect, the pricing I delivered to you is exactly where it needs to be. Unlike these other IT companies that are notorious for patting their price, just so that they can be taught down to the price where they need to be that you can feel like you've gained something, we're a bit different. We've priced it to be competitive, and to deliver the amount of service that I promised you. But with that being said, I can appreciate the fact that you want to lower price. So if you guys are ready to commit with us, and let us be your IT company, I can give you some options on how we can lower that price. Option one. If you wish to pay quarterly, we can take 5% off the monthly costs. Option two, if you prefer to pay yearly, we can take 7% off or use whatever you guys want to make the math work, okay, or you can ask for the first five payments in advance, you can ask for a setup fee and the first six payments in advance and then it goes to monthly. My point here is make sure you ask for something in return if you're going to meet that price. Okay, don't just give it up. You give it up. You're setting yourself up for a crummy relationship moving forward. "